Broadcasting & Cable
Nexstar Broadcasting Group reported net revenue in the second quarter of $74.5 million, up 19.9% from the same quarter last year. Gross local revenues climbed 7.8% and gross national revenues grew a whopping 32.6%.
Retransmission fee revenue was $7.3 million, a 14% increase from the same quarter last year. Automotive advertising grew 37% in the quarter.
Taking the telco’s branding a step further, Nexstar Chairman/President/CEO Perry Sook said Nexstar’s “quadruple play” of revenue streams–traditional media, subscription based revenue, mobile and e-media–paced the group to record numbers. More…