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09-11-2014, 14:35
Nexstar sees 25% spike in Q3 revenue Details Michelle Clancy | 09 November 2014 Nexstar Broadcasting Group has reported third quarter revenue of $157.7 million, up 25% from the same quarter in the previous year.Notably, the local TV affiliate conglomerate reported a 59% rise in retransmission fee revenue, which reached $40.7 million for the third quarter.Local broadcast revenue from advertising grew 3.5% to $65.8 million in the quarter, while national revenue was down 11% to $25.6 million. Core revenue decreased close to 1% to $91.4 million in the quarter, while political spending, at $18.2 million, spiked significantly over the previous third quarter thanks to the US 2014 midterm election"Nexstar's record third-quarter financial results reflect ongoing benefits from our results-focused operating disciplines, growing retransmission consent revenues, expanded digital media platform and our strategies to maximise the political revenue opportunity,