Nexstar Broadcasting Group announced today that its board of directors declared a quarterly cash dividend of $0.12 per share of its Class A common stock. The dividend is payable on Monday, Dec. 2, to shareholders of record on Friday, Nov. 15. The company said that while it intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the board of directors at its discretion.
Local newspapers and broadcasters today are seeking content management systems that are faster and more complex than ever before. And while vendors are constantly developing new products to keep up with evolving demands, the industry is facing contraction. “There are just too many players, and nobody is really big enough to have any control,” says Internet Broadcasting’s Elmer Baldwin. “There are some that just aren’t going to survive.” Part two of a three-part special report. Read part one here
Boosted by new station acquisitions, the group’s core first quarter revenue growth of 38.4% was supplemented by a 65.5% rise in retrans as well as a 65.5% jump in e-media revenue.
Serial acquirer Nexstar Broadcasting Group is in talks with several companies to buy TV stations and could spend up to $650 million on acquisitions over the next two years, according to CEO Perry Sook. He said some stations run by Local TV LLC could fit the bill, but declined to say whether his company was in talks with owner Oak Hill Capital Partners.
The group’s core first quarter revenue growth of 32.6% was supplemented by a 64.2% rise in retrans as well as a 57.3% jump in e-media revenue.
Mark Arminio to lead sales efforts for Nexstar’s WPTY (ABC), WLMT (CW) and WJKT (Fox) and the stations’ associated digital services.
It completes the $35.4 million buy of KGPE Fresno, Calif., and KGET and KKEY-LP Bakersfield, Calif.
Nexstar Broadcasting fails to convince a Texas judge that its carriage agreement with Time Warner Cable prevents the cable operator from importing its signals into other markets as replacement signals during retrans disputes.
CEO Perry Sook says that while it will continue to look for acquisitions that make sense, it is also “engaged in discussions to sell some of our smaller, non-strategic assets and believe that can be done at accretive multiples to the company as well.”
Nexstar has received a waiver from the FCC that allows its NBC affiliate WHAG Hagerstown, Md., to avoid making political ad-spending information available online starting Thursday. The FCC agreed with Nexstar’s arguement that while the station is considered part of the Washington market, it should be considered a small-market station for purposes of the new FCC rule. The waiver exempts WHAG until 2014.
Children’s health and developmental content will be featured on the group’s 31 community portals.
Steve Shanks will Lead Sales Efforts at CBS Affiliates WFRV Green Bay, Wis., WJMN Marquette, Mich., and the stations’ websites.
The Nexstar CEO tells analysts the third quarter looks good for auto advertising, continuing growth in mobile and Internet-based revenues. He also says retrans negotiations are underway with Fox and NBC and “no network … has asked for more than 50%.”
Nexstar plans to launch local news at WJMN Marquette, Mich., after the group closes on its acquisition of it and WFRV Green Bay, Wis., from Liberty Media, says President-CEO Perry Sook.
The strong fourth-quarter results marked the fourth consecutive quarter of double-digit growth for the seven pure-play broadcasting companies and eight integrated media companies tracked by the investment bank M.C. Alcamo & Co.
The rise to $97 million was driven by a 515% rise in political ad money plus strong retrans. E-media and local revenue contributions.
KARK, Nexstar Broadcasting Group’s NBC affiliate in Little Rock, Ark. (DMA 56), has purchased three GY-HM790U ProHD cameras from JVC Professional Products Co. for production of its local newscasts. The cameras, which KARK is using in its main studio, replaced BTS LDK-91 units that are now being used for SD production. The station is expected […]
The broadcaster joins Nexstar in asking the commission to forbid Time Warner Cable from using United’s Fox affiliate WNYF-CA Watertown, N.Y. as substitute network programming in the cable operator’s retransmission consent battle with Smith Media in Burlington, Vt.-Plattaburgh, N.Y.
The broadcaster wants the commission to forbid Time Warner Cable from using its stations as substitute network programming in the cable operator’s retransmission consent battle with Smith Media.
Rentrak Corp. today announced deals to provide audience viewership, segmentation and purchaser metrics via its StationView Essentials service to Nexstar Broadcasting’s Rochester, N.Y. (DMA 80), stations WROC (CBS) and WUHF (Fox) and NBC affiliate WHAG Hagerstown, Md.-Washington (DMA 9). “Nexstar has and will always be focused on new and enhanced marketing solutions for our clients,” said […]
As the pioneer in seeking retransmission consent cash from cable systems, Nexstar CEO Perry Sook talked about the future of retrans at Wells Fargo Securities’ Technology, Media & Telecom Conference.
Nexstar CEO Perry Sook says that the new Congress will likely leave broadcasting alone as it tackles issues other than retransmission consent and spectrum reallocation. Broadcasters, he says, should concentrate on developing mobile, a business that he says “may dwarf everything.”
Double-digit increases in core local and national revenue push the broadcaster’s revenue to $73.1 million, led by auto, political and retransmission consent dollars.