Q4 Earnings: Nexstar Net Revenue Up 19%

By Merrill Knox 

nexstar logoNexstar Broadcasting reported $138.1 million in revenue for the fourth quarter of 2013, an increase of +18.9% compared to the year-ago quarter.

Both local and national revenues increased compared to the fourth quarter of 2012: local revenue was up +42.7% and national revenue was up +59.5%. While political revenue was down in the non-election year, digital media and retransmission revenue both grew compared to the year-ago quarter.

“Our near- and long-term path to growth and the enhancement of shareholder value remains on plan and 2014 will see another period of record financial results as Nexstar will benefit from its expanded scale, new operating efficiencies and synergies related to recent and soon-to-be-completed acquisitions, the renewal in the 2013 fourth quarter of a significant number of retransmission consent agreements, an expansion of our digital media initiatives and the return of the political cycle and highly rated special event programming such as the winter Olympics,” Nexstar chairman and CEO Perry A. Sook said in a statement.