Nexstar Reports 24% Revenue Increase

By Andrew Gauthier 

Broadcasting & Cable

Nexstar Broadcasting Group reported first quarter net revenue of $68.6 million, 23.7% better than the $55.5 million it reported in the first quarter of 2009. Local advertising revenue was up 16.2% and national revenue climbed 21.8%.

Nexstar reported a 39.9% increase in retransmission consent revenue in the quarter, to $7.4 million, and a 25.9% increase in e-MEDIA revenues-representing $3 million in online business.

“Nexstar’s record first quarter net revenue reflects solid growth from all of our revenue sources and again demonstrates the value and success of our diversification strategies,” said Nexstar Chairman/President/CEO Perry A. Sook. More…