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.
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“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…