Nexstar Revenue Grows 2%

Nexstar Broadcasting Group reported first-quarter revenue of $69.9 million, up 1.9% from the first quarter of 2010. Local revenue grew 3.7%, while national revenue grew 2.1% for an overall 3.3% boost in core business.
That offset a dramatic decline in political revenue in the quarter.
Nexstar posted a 23.8% increase in online revenue and a 15.6% gain in retransmission fee revenue.

Perry Sook, chairman, president and CEO, said it was Nexstar's sixth consecutive quarter of core television advertising revenue growth.
"Nexstar's 2011 first-quarter revenue increase of 1.9% was driven by growth in both core local and national revenue," Sook said, "including a near double-digit gain in automotive advertising--as well as ongoing robust e-Media and retransmission fee revenue growth. Strength in core television advertising trends--which began for Nexstar in the 2009 fourth quarter--is continuing in 2011, and we are well positioned to grow all of our non-political revenue sources throughout 2011."
Last month, Nexstar agreed to acquire CBS affiliates WFRV Green Bay and WJMN Marquette for $20 million.

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.