Revenue at Nexstar is UP UP and Away......

Nexstar, the parent company of KARK/Little Rock and KTAL Shreveport posted revenue gains in the first quarter.  Local/National spot revenue and retransmission fees accounted for most of the revenue according to a news release:

“Nexstar’s continued leadership in new business development resulted in a 7.8% rise in first quarter core local and national revenue inclusive of a 5.0% first quarter increase in local spot revenue and a 15.6% rise in national spot revenue. The 2012 first quarter marks the sixth sequential increase in our quarterly core revenue growth rate and our tenth consecutive quarter of core television advertising revenue growth. While we look forward to the benefit of growing political advertising activity throughout 2012, Nexstar’s gross revenue growth in the first quarter excluding political was a robust 16.3% inclusive of a 9% rise in automotive category ad spending.

“Strong gains in our core television operations were complemented by the expected significant double digit growth in first quarter retransmission fee revenue which rose 70.2% to $14.5 million, a record level of quarterly revenue from this source. With the renewal of more than 130 retransmission consent agreements in 2011 we project significant revenue growth from this source throughout the year. Double digit revenue growth also continues in our e-Media operations which posted a 12.5% increase in revenues to $4.1 million, representing our twenty first consecutive period of revenue growth for the Company’s community web portal strategy. Similarly, we expect to extend our e-Media revenue growth throughout 2012 as we benefit from a full year’s contribution from Internet technology provider GoLocal.Biz which was acquired mid-2011 in an accretive transaction, as well as our expanded mobile offerings which bring local advertisers new marketing solutions that yield high interactivity and ROI.