Nexstar Broadcasting, which just inked a deal to acquire WEHT in Evansville, reported record second quarter net revenue this week with its stations bringing in $75.5 million for the period, a 1.3% increase over Q2 2010.
“We think this is a pretty good time to be in this business,” Nexstar boss Perry Sook (left) said in his earnings call on Tuesday, emphasizing that local revenues continue to grow even amid uncertainty on Wall Street.
For the second quarter, Nexstar made up for a significant dip in political advertising with revenue increases in local (up 5.4%), e-media (up 22.5%), and retrans fees (up 18.4%).
“Nexstar is consistently demonstrating that growing diversification in our business model and leveraging localism, by building digital extensions for core content that heighten consumer engagement and provide marketing solutions to advertisers, is the right path for us to continue to succeed in our markets and across our platform,” Sook concluded, pointing out that the company has recently diversified its revenue sources with station acquisitions and the purchase of internet technology provider GoLocal.Biz.