• by Wayne Friedman , February 26, 2015

Nexstar Broadcasting lackluster fourth-quarter results in traditional advertising revenues were supplemented by huge gains in retransmission and digital media dollars.

The Irving, Texas-based TV station group had its local ad revenue climb 2.8% to $77.2 million, while national spot revenue sank 5.3% to $31.1 million. Overall, advertising revenue was virtually flat at $108.3 million, up a scant 0.4%.

But retransmission fees gained a big 65% to $44.1 million, with political revenue at $35.4 million versus $1.5 million in the fourth quarter of 2013. Digital media revenue almost doubled to $14.2 million.

Adding all other revenue sources (less agency commissions) Nexstar’s net revenue grew nearly 40% to $192.8 million. Taking out the big mid-year election advertising gains of fourth-quarter 2014 still gave Nexstar a 17.2% gain in revenue to $176.7 million during the period.

Nexstar posted $30.8 million in net income -- a reversal of a $12.5 million net loss in fourth-quarter 2013. For 2014, Nexstar pulled in $631.3 million versus revenue of $502.3 million in 2013, with net income at $64.6 million versus a $1.79 million net loss.

In 2014, Nexstar made a number of station acquisitions, bringing its TV station portfolio to 107 outlets in 58 markets, and reaching about 17% of all U.S. television households.