big year of TV station acquisitions, mid-size TV station group Nexstar Broadcasting posted a nearly 20% rise in revenue in the fourth quarter.
Revenue was $138.1 million for the Irving,
Texas-based company. Nexstar results reflected the benefits from TV station acquisitions that were completed in 2013.
Since July 2012, Nexstar has doubled the portfolio of owned or serviced
television stations. Nexstar says it will own or provide services to multiple stations in 37 of the 56 markets.
Local advertising revenue grew 42.7% in the period to $75.1 million, with
national spot advertising revenue 60% higher at $32.8 million. Total advertising revenue climbed 47% to $107.9 million.
Retransmission revenue was up 67% to $26.8 million, with digital
revenue up 24% to $6.6 million.
“In addition to the strong core ad revenue growth, total combined fourth-quarter retransmission fee and digital media revenue rose 56.4% to $33.4
million, representing 24.2% of 2013 fourth-quarter net revenue,” states Perry Sook, chairman, president/chief executive officer of Nexstar Broadcasting Group.
Nexstar says income from
operations sank 9.3% to $32.1 million during the period.