Nexstar Broadcasting Q4 Revenue Up 35%

  • SHARES

By Merrill Knox Comment

Nexstar Broadcasting reported a record $116.2 million in revenue in the fourth quarter of 2012, an increase of 34.8% on the year-ago quarter.

Compared to the fourth quarter of 2011, local revenue increased 6.8% and national revenue increased 14.3%. Retransmission fee revenue increased 55.9%, and political revenue was up 1,262% from the year-ago quarter.

“Our strong financial results were primarily driven by record-breaking political advertising sales, higher core television ad revenue, growing retransmission consent revenues, and our 24th consecutive quarter of e-Media revenue increases. We also benefited from a month of operations related to the accretive acquisition of ten television stations from Newport Television,” Nexstar chairman and CEO Perry A. Sook said in a statement.