Nexstar reported a 2.3% increase in third quarter revenue today, boasting a record $74.8 million for the period.
“Nexstar’s record third quarter revenue reflects our eighth consecutive quarter of core television advertising revenue growth,” Nexstar president and CEO Perry Sook said. “The 5.3% rise in core ad revenue growth, 17.5% increases in e-Media revenue, 30.5% in retransmission fee revenue and 21.0% improvement in management agreement revenue more than offset the impact of a 74.3% year-over-year reduction in political revenue.”
In announcing its third quarter financial results, Nexstar emphasized its expanding media footprint, which now includes WFRV and WJMN in Wisconsin and Michigan as well as WEHT in Evansville, IN.
While the company’s aggressive expansion has yielded positive financial results, it doesn’t come without a price: as Nexstar prepares to make WEHT its 22nd duopoly, several people at the station have been let go.