Nexstar: $20 Million in Retrans In 2008

Complete Coverage: UBS Global Media and Communications Conference

Nexstar President/CEO Perry Sook said the broadcaster stands to bag $20-$21 million in retransmission consent revenue this year, a gain from the $17.2 million it made last year.

With some 80% of its retrans “contract dollars” due to expire before the end of 2009, Sook—speaking at the UBS Global Media Conference in New York Tuesday--said Nexstar will see greater retrans gains in the near future.

“That will grow at a substantial double digit rate in the new few years,” said Sook, who added that retrans and emedia revenue will represent some 35% of the company’s EBIDTA in two years.

Nexstar also booked $32.5 million in political advertising for 2008, said the chief executive.

Sook was also excited about KBTV Beaumont (Texas) switching from an NBC to a Fox affiliate. Asked about reverse compensation, he pointed to KBTV and suggested the networks watch what they ask for or Nexstar would consider other affiliation switches.

“If you want me to pay, you have to give me value in return,” he said. “There could potentially be room for other [affiliation] options in mid-sized markets.”

Michael Malone

Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.