Nexstar's Ad Revs Climb 5.3%

Even without similar big political revenue gains for its third-quarter 2010 reporting period, mid-size TV station group Nexstar Broadcasting found ad revenue growth in this year's third-quarter financial results.

Its core national and local advertising sales climbed 5.3% to $59.6 million -- with local advertising improving 3.9% to $43.3 million and national spot advertising up 9% to $16.3 million.

The company says there was record revenue during the period for core TV advertising, Internet and retrans businesses. Nexstar's Internet platforms grew 17.5% to $4.2 million, with retransmission revenues up 30.5% to $9.98 million. All this offset substantially -- and somewhat  anticipated -- lower political revenues, a 74.3% decline to $1.7 million.

Overall, Nexstar's revenue was up 2.3% to $74.8 million. But net income from operations sank 35.7% to $8.3 million.

Perry A. Sook, chairman, president and chief executive officer of Nexstar Broadcasting Group, stated: “Nexstar’s third-quarter results highlight the benefits of our revenue diversification initiatives. ... (It) reflects our eighth consecutive quarter of core television advertising revenue growth complemented by significant double-digit revenue gains in every one of our non-television advertising revenue sources."

Sook says this third quarter was a vast improvement over the same period in the throes of the deep recession in 2009, noting: "Nexstar’s total net revenue for the third quarter of 2011 is 23.9% ahead of the $60.4 million total net revenue reported in the third quarter of 2009, and our revenue from non-television advertising sources grew by 56% over this period. Despite the still fragile economic environment, Nexstar’s 2011 revenue comparisons, excluding political, have improved on a quarterly sequential basis throughout the year."



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