Nexstar Broadcasting announced today that it brought in a record amount of dough during the first quarter, reporting $69.9 million in net revenue. That’s a 1.9% increase from the same period last year.
“Nexstar’s 2011 first quarter revenue increase of 1.9% was driven by growth in both core local and national revenue — including a near double digit gain in automotive advertising — as well as ongoing robust e-Media and retransmission fee revenue growth,” said Nexstar president and CEO Perry Sook in a press release.
The company, which owns, operates, programs or provides services for 63 stations in 34 markets across the country, said that it was able to overcome an 82% year-over-year decline in political advertising, as well as the absence of the Winter Olympics on its NBC stations, because of increases in retrans revenue (up 15.6%) and local advertising (up 3.7%).