Nexstar, the largest TV station group, got a boost from midterm political ad spending as well as a rise in distribution and digital revenue in the second quarter.The company reported net income of $226.5 million, a rise of 13.4%, in the period ended June 30.
Revenue rose to $1.25 billion, up 10%, from the same period a year earlier. The results beat analysts consensus estimates, as did earnings per share.“Our results benefitted from strong year-over-year growth in political advertising, distribution, and digital revenues,” said Perry Sook, the company’s chairman and chief executive officer.Nexstar has been in the midst of expansion of its NewsNation, formerly WGN.
It’s up to 60 hours a week of original content, with the recent announcement that former CNN host Chris Cuomo will join its primetime line up in the fall.Nexstar is said to be in the process of buying a controlling stake in the CW from its parents Paramount Global and Warner Bros.
Discovery. The Nexstar board just extended Sook’s employment agreement through March 31, 2026.Political advertising revenue jumped to $86.7 million, from $8.5 million in the same period last year.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.