Nexstar Broadcasting - TVSpy

Nexstar Broadcasting Revenue Up 34% in Q1

Merrill Knox — Wed, 08 May 2013 10:54:34 +0000

Nexstar Broadcasting reported $112.2 million in net revenue during the first quarter of 2013, a 34% increase on the year-ago quarter’s $83.6 million.

Local revenues were up 31.9% for the quarter and national revenues were up 34.3%. Political revenues were down significantly in the non-election year, but retransmission fees were up 64.2% and e-media revenue was up 57.3%. Broadcast cash flow was $39.8 million, an increase of 16.9% on the year-ago quarter.

“Industry revenue improved each month during the first quarter and this trend continues for Nexstar in the second quarter to date,” Nexstar chairman, president and CEO Perry A. Sook said in a statement. “As such, we are well positioned to grow all of our non-political revenue sources throughout 2013.”

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Nexstar to Acquire CCA Stations For $270M

Merrill Knox — Wed, 24 Apr 2013 17:08:37 +0000

As expected, Nexstar Broadcasting and Mission Broadcasting have announced an agreement to acquire Communications Corporation of America’s station group. Nexstar and Mission will pay will pay $270 million for CCA’s 19 stations and seven associated digital subchannels in 10 markets.

Under the terms of the agreement, Nexstar will acquire 11 of the CCA stations and Mission will acquire eight. Nexstar and Mission will enter into shared service agreements, according to a statement. The transaction is pending FCC approval and expected to close in the fourth quarter of 2013.

“Nexstar is a premier TV broadcasting company that has grown in a disciplined fashion. We are pleased that the CCA stations will become part of Nexstar’s expanded footprint giving them the benefits of increased scale to build on the momentum we have created over the past several years,” CCA chairman Peter Markham said.

A full list of CCA’s stations are after the jump. continued…

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Report: Nexstar to Acquire CCA Stations

Merrill Knox — Mon, 25 Mar 2013 11:39:09 +0000

Nexstar Broadcasting is poised to buy Communications Corp. of America, TVNewsCheck reports. The company has signed a letter of intent and is in the process of conducting due diligence on “12 stations in smaller markets”:

CCA stations are in markets ranging Shreveport, La. (DMA 82), to Alexandria, La. (DMA 179). Nexstar’s portfolio ranges from Washington (DMA 8) to St. Joseph, Mo. (DMA 201). Most are in mid-size to smaller markets.

The acquisition would boost Nexstar’s station count to roughly 84, bump up its duopoly count by at least one and enhance its already strong presence in Louisiana and Texas.

TVNewsCheck reports the two companies hope to make a formal announcement by April 6.

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Dione Rigsby Joins Nexstar Broadcasting as VP of Technology

Merrill Knox — Mon, 11 Mar 2013 14:51:43 +0000

Dione Rigsby has joined Nexstar Broadcasting as vice president of technology, effective immediately. In his new role, Rigsby will oversee the ongoing integration of Inergize Digital, which Nexstar acquired from Newport Television last year.

Rigsby joins Nexstar from Newport Television, where he was responsible for corporate technology and technical resources related to television operations and the Ingerize Digital platform, among other things. He worked from 2008-12 as chief technology officer, vice president and director of engineering and general manager of Newport Technical Operations Center.

“Dione has an impressive industry background with extensive experience in managing technology operations, information systems and complex application development and deployment,” Nexstar SVP of station operations Blake Russell said in a statement. “Dione’s appointment will support our goals for both expanding our revenue channels and driving efficiencies throughout the organization.”

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Nexstar Broadcasting Q4 Revenue Up 35%

Merrill Knox — Thu, 07 Mar 2013 09:51:59 +0000

Nexstar Broadcasting reported a record $116.2 million in revenue in the fourth quarter of 2012, an increase of 34.8% on the year-ago quarter.

Compared to the fourth quarter of 2011, local revenue increased 6.8% and national revenue increased 14.3%. Retransmission fee revenue increased 55.9%, and political revenue was up 1,262% from the year-ago quarter.

“Our strong financial results were primarily driven by record-breaking political advertising sales, higher core television ad revenue, growing retransmission consent revenues, and our 24th consecutive quarter of e-Media revenue increases. We also benefited from a month of operations related to the accretive acquisition of ten television stations from Newport Television,” Nexstar chairman and CEO Perry A. Sook said in a statement.

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Nexstar Completes Purchase of WFFF-WVNY

Merrill Knox — Tue, 05 Mar 2013 10:22:11 +0000

Nexstar Broadcasting and Mission Broadcasting has completed the purchase of WFFF and WVNY, the Fox and ABC affiliates in Burlington, Vt.-Plattsburgh, N.Y.

Nexstar bought the two stations from Smith Media, LLC for $16.9 million. Nexstar and Mission have entered into a local services agreement for Nexstar to provide sales and other services to WVNY.

“This transaction is consistent with our acquisition criteria as it further diversifies our operations, expands our scale, creates another new duopoly market and is financially accretive,” Nexstar chairman and CEO Perry A. Sook said in a statement.

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Nexstar Taps Eric Thomas as General Manager of KLBK

Kevin Eck — Mon, 25 Feb 2013 10:43:57 +0000

Nexstar Broadcasting has named Eric Thomas vice president and general manager of Lubbock, TX, CBS affiliate KLBK.

“I began my broadcasting career in Lubbock and am deeply committed to the great state of Texas where I grew up and where my wife, two children and extended family and many close business contacts and personal friends currently reside,” said Thomas. “I look forward to working with the exceptional team of broadcasters, the station’s advertisers and the local community to drive continued viewership growth while delivering superior marketing solutions to local and national advertisers.”

Thomas, who will also oversee the company’s joint operating agreement with Mission Broadcasting’s KAMC and serve as head of e-media operations for both station’s digital properties, previously worked as vice president and general manager of KTAB in Abilene/Sweetwater, TX. continued…

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Nexstar Broadcasting to Create Duopolies in Fresno, Bakersfield

Merrill Knox — Tue, 19 Feb 2013 16:36:14 +0000

Nexstar Broadcasting has completed its acquisition of three California stations from Newport Television: NBC affiliate KGET and Telemundo affiliate KKEY in Bakersfield and CBS affiliate KGPE in Fresno.

The $34.5 million transaction will create duopolies for Nexstar in both Fresno and Bakersfield, Calif. Nexstar announced plans to acquire NBC affiliate KSEE in Fresno last month.

“This transaction is consistent with our acquisition criteria as it further diversifies our operations, creates new duopoly markets and is financially accretive,” Nexstar president and CEO Perry A. Sook said in a statement.

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Two at Local Station Groups Named ‘People to Watch’ in 2013

Kevin Eck — Fri, 18 Jan 2013 11:36:13 +0000

TVNewsCheck is reporting the Media Financial Management Association has named its five “People to Watch” for 2013 with two of the five, NBC Owned Stations chief financial officer, Christine Dorfler and Tim Busch, executive vice president and chief operating officer for Nexstar Broadcasting Group, directly responsible for making sure their local TV station groups turn a profit.

“The biggest challenge is anticipating how people are going to consume my product three, five, 10, 20 years from now,” Dorfler told Janet Stilson editor of MFM’s The Financial Manager magazine. Dorfler’s former boss, Michael Jack, president and general manager of WNBC told Stilson, ““She’s not only an expert in her own area of the business but she’s one of those people who are intellectually curious, who will take the time to find out about other parts of this business.” continued…

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Nexstar Cuts Staff at Salt Lake City’s KTVX and KUCW

Kevin Eck — Wed, 19 Dec 2012 11:51:08 +0000

Nexstar Broadcasting has laid off staffers at its newly acquired Salt Lake City stations KTVX (ABC) and KUCW (CW).

The Salt Lake City Tribune put the number laid off at 15.

“That’s probably a good guess,” said Dan Metcalf, KTVX’s now-former film critic and executive producer of online media to the Tribune. “I was No. 5 this morning, and there were others behind me.”

The Tribune also reports the station’s accounting, research and traffic departments had been eliminated and will be handled by other Nexstar sites. A Nexstar spokesman also said they will be hiring a new station manager to replace Matt Jaquint.

“This is a reduction in force we’re making here,” Brian Jones, co-COO and executive vice president of Nexstar told the Tribune. “We’re going to operate the station at the highest level, and we will move forward.” continued…

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Q3 Earnings: Nexstar Revenue Increases 20%

Merrill Knox — Tue, 06 Nov 2012 10:43:58 +0000

Nexstar Broadcasting reported net revenue of $90 million in the third quarter of 2012, a +20.2% increase from the year-ago quarter’s net revenue of $74.8 million.

Nexstar’s core local and national revenue increased +7.4%. Political ad revenue increased +488% to $10.2 million in Q3, and retransmission revenue increased +51% to $15.1 million. The company also reported $41 million in broadcast cash flow, a +57% increase from the year-ago quarter.

In a statement, Nexstar president and CEO Perry Sook called the third quarter an “active and productive period for Nexstar.”

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Bob Walters Joins KNOE as News Director

Merrill Knox — Wed, 19 Sep 2012 14:04:10 +0000

There’s a new news director at KNOE, according to Jake’s DTV Blog: Bob Walters began at the CBS affiliate in Monroe, La. this week.

Walters joined the station, which is Hoak Media operates as part of a duopoly with KAQY, Parker Broadcasting’s ABC affiliate, on Monday. He spent more than 10 years as news director of WTVW in Evansville, becoming news director of WEHT when the stations merged last year. He was cut from the stations in June.

As Jake’s DTV Blog notes, he will be competing with his former employer, Nexstar Broadcasting, in his new role. Nexstar owns Fox-affiliated KARD and operates NBC-affiliated KTVE.

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Nexstar Renews CBS Affiliation Agreements

Merrill Knox — Mon, 10 Sep 2012 10:19:25 +0000

Nexstar has renewed affiliation agreements with CBS for eight of its stations, the company announced today.

The long-term extensions are at KLBK in Lubbock, TX, KLST in San Angelo, TX, KTAB in Abilene, TX, WCIA in Decatur, IL, WFRV in Green Bay, WJMN in Marquette, WMBD in Peoria and WROC in Rochester. Mission Broadcasting has also renewed an affiliation agreement with CBS for KOLR in Springfield, MO, which Nexstar operates under a local marketing agreement.

“Our affiliation with CBS combined with our stations’ market-leading local news and unique community-focused programming allows us to deliver great entertainment and information to viewers as well as superior marketing solutions for advertisers,” Nexstar president and CEO Perry Sook said in a statement.

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Nexstar Broadcasting Boasts Record Second Quarter

Andrew Gauthier — Tue, 07 Aug 2012 10:52:17 +0000

Nexstar Broadcasting is celebrating record financial results for the second quarter. The company, which owns, operates, and/or services 55 stations in 32 markets, today announced net revenue of $88.9 million for the period, a 17.7% increase over last year’s second quarter.

“Nexstar achieved record second quarter net revenue based on the strength of our core television operations and rising contributions from our retransmission and e-Media revenue streams,” Perry Sook, the company’s president and CEO, said in a statement. continued…

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Nexstar to Acquire Newport Stations for $285M

Merrill Knox — Thu, 19 Jul 2012 11:42:44 +0000

Nexstar Broadcasting and Mission Broadcasting have announced plans to acquire 12 stations from Newport Television for $285.5 million.

In a statement, Nexstar said the acquisition “substantially broadens Nexstar’s local television broadcasting platform with stations that are geographically complementary to and diversify Nextar’s operating base.”

Nexstar will acquire 10 stations: KTVX and KUCW in Salt Lake City, WPTY and WLMT in Memphis, WYSR in Syracuse, WBGH and WIVT in Binghamton, NY, WETM in Elmira, NY, WJKT in Jackson, TN and WWTI in Watertown, NY. Mission Broadcasting will acquire KLRT and KASN in Little Rock.

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