Nexstar Records Solid Revenue Gain
Stripping out political dollars, Nexstar Broadcasting posted a 7% gain in ad revenue in the second quarter to $66.2 million. Retransmission consent revenue leaped at a robust 78% rate to $15.3
million.
In July, Nexstar and the Mission group reached a deal to acquire stations in eight markets for $285.5 million, including the ABC affiliates in Salt Lake City and Memphis. After the deal closes, Nexstar will have some role in the operations of 67 stations.
Nexstar CEO Perry Sook stated Tuesday that the acquisition should bring “substantial free cash flow growth.”
In the quarter, Nexstar said auto dollars rose 16%, while all ad dollars -- including political -- brought a 13% increase.
Nexstar also touted growth of its online initiatives, with an 8% increase to $4.4 million.
Income nearly doubled to $23.5 million.
Nexstar is positioned to capitalize on political dollars in the back half of the year with stations in the swing states of Florida, Missouri and Pennsylvania.
The company touted efforts to diversify beyond traditional ad sales with retrans dollars and e-media revenues.
Nexstar shares rose 8.5% Tuesday to close at $8.23, up from a 52-week low in the $5.50 range.
Recent MediaDailyNews Articles
-
NY1 Show Goes National May 22, 7:32 p.m.
Time Warner Cable (TWC) will begin distributing a show about Broadway and theater at large to ... -
TV Model: Nets, Stations Split Retrans 50/50 May 22, 6:02 p.m.
Gray Television CFO Jim Ryan suggested that networks may capture more than half of an affiliate’s ... -
Newspaper, Magazine Ad Fortunes Continue To Decline May 22, 5:59 p.m.
The release of fourth-quarter figures for newspaper advertising and first-quarter figures for magazine ad pages earlier ... -
Equifax Taps Dentsu's 360i As Lead Agency May 22, 5:24 p.m.
Data collection company Equifax has selected Dentsu shop 360i to be its lead agency -- for ... -
NBC Gives 'Voice' To Tuesday, ABC 'Dancing' Into Second Place May 22, 5:08 p.m.
Two nights left of the TV season and NBC scored a Tuesday night win.Its big show, ... -
Multichannel Video Cos. Register Subscriber Loss, Satellite TV Gains May 22, 10:55 a.m.
For the first time in a year-long period, the biggest multichannel video companies have witnessed a ... -
DPAA Taps Enhanced TV Ad Vet Frey As New Chief May 22, 8:08 a.m.
Barry Frey, a long-time cable and interactive television executive who helped pioneer the field of “enhanced ... -
How Social Is Transforming TV May 21, 5:46 p.m.
Live from OMMA Video, Viacom Media Networks is unveiling its findings from “When Networks Network: TV ... -
Chicago Awards O'Hare Digital Signage Biz To Clear Channel Airports May 21, 4:30 p.m.
The Chicago City Council has awarded Clear Channel Airports a five-year contract, with the option for ... -
(Updated) NDTV Challenges WPP, Tries To Revive Lawsuit In NY May 21, 4:26 p.m.
(Editor's Note: The original version of this story, including the headline failed to note that NDTV's ...
Be the first to comment on "Nexstar Records Solid Revenue Gain "
Leave a Comment