The Lost Remote newsletter brings you the the best in streaming news, from staffing changes to premiere dates to trailers—to the latest platform moves. Sign up today.
Nexstar Broadcasting, which owns or manages 62 stations in 34 markets, announced today that its fourth quarter revenue increased 31.2% to a company record $97.1 million.
“Our success in driving profitable revenue growth reflects the strength of our core local content, ability to develop distribution and digital extensions for our core content including the creation of new online, text and mobile content and applications,” announced Perry Sook, Nexstar’s president and CEO, “and the benefit derived from leveraging our management operating disciplines to provide services to other broadcasters.”
For the last three months of 2010, Nexstar brought in $85.9 million in TV ad revenue, including $22.6 million of political advertising. Like other broadcasting groups, Nexstar capitalized on strong ad spending surrounding the November elections.
The fourth quarter revenue surpassed a record set in the previous quarter of 2010. In the third quarter, Nexstar had $73.1 million in net revenue.