Reporting financial results for the fourth quarter, as well as the full year, of 2011, Nexstar Broadcasting emphasized growth in core advertising.
Nexstar, which owns, operates, programs or provides services to 55 stations in 32 markets, today reported a 11.2% decrease in net revenue for the fourth quarter of 2011 and a 2.2% drop for the entire year, as compared to results from the previous year.
The company attributes the declining numbers to a decrease in political advertising. Excluding political, Nexstar’s gross revenue was up 8.4% for the fourth quarter and 7.3% for the full year.
“We believe our fourth quarter and full year 2011 results demonstrate that we continue to be an industry leader in generating increases in core advertising activity,” Nexstar president and CEO Perry Sook said in a statement. “This trend is extending into 2012 and will be reflected in the first quarter results and throughout the year.”
Nexstar’s local and national core revenue was up 6.4% for the fourth quarter and 4.8% for the full year.