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Posts Tagged ‘Perry Sook’

Nexstar Reports Record Revenue

Nexstar Broadcasting today reported a 19.6% rise in first quarter revenue, including a record amount of retrans revenue.

Nexstar, which owns, operates, programs, or provides services to 55 stations that reach roughly 9.3% of U.S. households, took in $83.6 million during the first three months of the year, with $14.5 million coming from carriage fees–a record for the company.

Core local and national revenue was up 7.8%.  Nexstar’s stations made $45.4 million in local revenue for the first quarter and $17.4 million in national for the period. Read more

With Q4 Revenue Down 11%, Nexstar Emphasizes Growth in Core Advertising

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. Read more

Nexstar Makes Millions Off Sinclair’s Acquisition of Four Points Stations

Nexstar Broadcasting is getting millions from Sinclair Broadcast Group’s recent acquisition of the stations of Four Points Media.

This week Sinclair finalized its $200 million deal for Four Points Media’s handful of stations, and today Nexstar announced that it was being paid $6.7 million as a result of the acquisition.

Nexstar has been providing management services to Four Points and its deal was terminated when Sinclair gained control of the company’s stations.  The $6.7 million amounts to a termination fee plus money still owed for services provided in 2011. Read more

Nexstar Announces Record Third Quarter

Nexstar reported a 2.3% increase in third quarter revenue today, boasting a record $74.8 million for the period.

“Nexstar’s record third quarter revenue reflects our eighth consecutive quarter of core television advertising revenue growth,” Nexstar president and CEO Perry Sook said.  “The 5.3% rise in core ad revenue growth, 17.5% increases in e-Media revenue, 30.5% in retransmission fee revenue and 21.0% improvement in management agreement revenue more than offset the impact of a 74.3% year-over-year reduction in political revenue.”

In announcing its third quarter financial results, Nexstar emphasized its expanding media footprint, which now includes WFRV and WJMN in Wisconsin and Michigan as well as WEHT in Evansville, IN. Read more

WEHT and WTVW Reportedly Merging Operations

Nexstar Broadcasting is reportedly set to merge the news operations of two stations in the Evansville market.

According to the Evansville Courier & Press, the company plans to combine the news departments of WEHT–the ABC-affiliate that it just purchased–and WTVW–the former Fox-affiliate that Nexstar is unloading on Mission Broadcasting, a station group that serves as a sort of holding company for Nexstar-operated stations.

Sources tell the Courier & Press that WTVW’s operations, currently located in downtown Evansville, will move to the studios of WEHT, located in Henderson, KY. Perry Sook, Nexstar’s president and CEO, and Timothy Busch, the company’s co-COO, were reportedly in Henderson on Wednesday speaking with WEHT staff. Read more

Emphasizing Local Potential, Nexstar Boasts Record Q2 Revenue

Nexstar Broadcasting, which just inked a deal to acquire WEHT in Evansville, reported record second quarter net revenue this week with its stations bringing in $75.5 million for the period, a 1.3% increase over Q2 2010.

“We think this is a pretty good time to be in this business,” Nexstar boss Perry Sook (left) said in his earnings call on Tuesday, emphasizing that local revenues continue to grow even amid uncertainty on Wall Street.

For the second quarter, Nexstar made up for a significant dip in political advertising with revenue increases in local (up 5.4%), e-media (up 22.5%), and retrans fees (up 18.4%).

“Nexstar is consistently demonstrating that growing diversification in our business model and leveraging localism, by building digital extensions for core content that heighten consumer engagement and provide marketing solutions to advertisers, is the right path for us to continue to succeed in our markets and across our platform,” Sook concluded, pointing out that the company has recently diversified its revenue sources with station acquisitions and the purchase of internet technology provider GoLocal.Biz.

Nexstar Acquires Internet Marketing Company

Nexstar Broadcasting, which owns, operates, or provides services for 65 stations in 36 markets across the country, has inked a deal to acquire the internet technology provider and online marketing services company GoLocal.biz.

Based in St. George, UT, GoLocal.biz provides local business directories, coupons, and entertainment listings to community websites, including all 35 of Nexstar’s local sites.

Nexstar president and CEO Perry Sook said that the acquisition “creates an entirely new revenue stream for Nexstar as we intend to expand the distribution and syndication of the GoLocal.biz platform to other online publishers in television and radio markets not served by Nexstar.”

Terms of the deal were not disclosed.

Joseph Denk Named VP-GM of WFRV-WJMN As Nexstar Deal Closes

Nexstar Broadcasting’s $20 million deal to purchase two CBS affiliates, WFRV in Green Bay and WJMN in Marquette, MI, was completed today. Joseph Denk will take over as vice president and general manager of both stations.

Nexstar announced the purchase of WFRV and WJMN in April. The deal brings the number of CBS affiliates that Nexstar owns up to 13. ““The acquisition of WFRV and WJMN brings immediate strategic and financial benefits to Nexstar as it expands and diversifies our station portfolio,” Nexstar president and CEO Perry Sook said.

Denk, who replaces veteran VP-GM Perry Kidder at WFRV-WJMN, is a Wisconsin native who is currently the VP-GM at WQRF, the Nexstar-owned Fox affiliate in Rockford, IL.

“Under Joe’s leadership, our Rockford operations have performed very well,” Nexstar executive vice president Tim Busch said. “His years of experience, respect within Nexstar and his Wisconsin roots are all a perfect fit to lead our newly acquired operations in Green Bay and Marquette.”

Fox Continues to Cut Nexstar Affiliations

A little over a month after losing the Fox affiliation of its station in Evansville, Nexstar is cutting ties with Fox at KSFX in Springfield, MO and WFFT in Fort Wayne, IN.

This week Fox announced new affiliation agreements with stations in Springfield and Fort Wayne, signing deals with Koplar Communications’ KRBK and Granite Broadcasting’s WISE. The new deals mean that Nexstar will have to forge new identities for its stations after decades with Fox.

“We’ve been negotiating with Nexstar for over a year and weren’t able to come to terms on a contract renewal,” said Scott Grogin, a spokesperson for Fox Broadcasting. “It was not a bidding situation.”

Fox has been pushing its affiliates to give up a significant portion of the retrans fees received from cable and satellite providers, which has drawn the ire of Nexstar. Read more

Nexstar Broadcasting Boasts Record First Quarter

Nexstar Broadcasting announced today that it brought in a record amount of dough during the first quarter, reporting $69.9 million in net revenue. That’s a 1.9% increase from the same period last year.

“Nexstar’s 2011 first quarter revenue increase of 1.9% was driven by growth in both core local and national revenue — including a near double digit gain in automotive advertising — as well as ongoing robust e-Media and retransmission fee revenue growth,” said Nexstar president and CEO Perry Sook in a press release.

The company, which owns, operates, programs or provides services for 63 stations in 34 markets across the country, said that it was able to overcome an 82% year-over-year decline in political advertising, as well as the absence of the Winter Olympics on its NBC stations, because of increases in retrans revenue (up 15.6%) and local advertising (up 3.7%).

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