Nexstar: $20 Million in Retrans In 2008Company up from the $17.2 million it made last year 12/09/2008 10:09:00 AM Eastern
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.”