Nexstar Postpones Q1 Results
Delay pushes release out to Friday, no reason given
By Mike Farrell--Multichannel News -- Broadcasting & Cable, 5/13/2009 12:26:25 PM EDT
Nexstar Broadcasting Group said Wednesday that it will postpone the release of its first quarter results to Friday, May 15. The broadcaster had been scheduled to release results today, May 13.While Nexstar gave no reason for the delay, the announcement comes two days after the company said executive vice president and chief financial officer Matthew Devine resigned to pursue other opportunities.
Nexstar's vice president, controller and secretary Shirley Green will serve as interim CFO, the company said.
"We appreciate Matt's contributions over the last three years, and we wish him continued success in his future endeavors," Nexstar CEO Perry Sook said in a statement. "Our finance department is well-staffed, experienced and capable, and we are confident that Shirley will facilitate a smooth transition while we identify and appoint a new CFO."
Nexstar has been an aggressive proponent of cash for retransmission consent from cable operators. Retransmission consent revenue for the broadcaster rose 27% to $21.8 million in 2008.
Nexstar Q2 Revenue Down 12%
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