Nexstar Broadcasting Second Quarter Net Revenue Rises 1.3% to Record $75.5 Million MarketWatch (press release)
(1) Definitions and disclosures regarding non-GAAP financial information are included on page 4, while reconciliations are included on page 7.
CEO Comment
Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar Broadcasting Group, Inc., commented, "The ongoing advertising rebound in our markets and Nexstar's effectiveness in driving new-to-television local direct billings drove our seventh consecutive quarter of core television advertising revenue growth. The 4.3% rise in core ad revenue growth, 22.5% increases in e-Media revenue and 18.4% gain in retransmission fee revenue offset the reduction in political revenue and led to record second quarter net revenue and EBITDA.
"Excluding the impact of political revenue from both periods, Nexstar's 2011 second quarter gross revenue rose 6.9% year-over-year and by 6.1% in the first half of 2011 versus the first half of 2010. In aggregate, 2011 second quarter retransmission fee, mobile and e-Media and management fee revenue rose 18.8% to $13.2 million from the year-ago period, and these higher margin revenue streams accounted for 17.5% of 2011 second quarter net revenue compared to 14.9% in the 2010 second quarter.
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