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Nexstar Revenue Grows 2% - Broadcasting & Cable

Nexstar Revenue Grows 2%

Core biz up 3.3%, while online and retrans are booming
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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.

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