Friday, March 03, 2006
Lower expectations yield benefits for Nexstar
Leave it to the stock market to provide a story like this.
Nexstar Broadcasting, owner of KSNF in Joplin and de facto owner of KODE, announced Thursday that net revenues were down 12.8 percent in the fourth quarter and eight percent for 2005, but since the final figures were higher than company officials had predicted, Nexstar's stock price increased another 12 cents, closing at $4.26 Thursday.
In a news release, CEO Perry Sook blamed a decrease in political advertising and put a positive spin on the decreased revenues, saying non-political revenues were up 0.8 percent.
And, of course, everything will come up roses in 2006 now that the retransmission deals are in place, Sook indicated.