Nexstar Broadcasting received $3 million in retransmission money during the second quarter, according to the quarterly report filed today with the Securities and Exchange Commission.
That was up from $800,000 during the same quarter in 2005.
That was only part of the good news for the company, which owns KSNF in Joplin and KSFX in Springfield and is de facto owner of KODE in Joplin and KOLR in Springfield.
Net revenue was up from $58.7 million during the second quarter of 2005 to $64.6 million. Nexstar CEO Perry Sook said:
"Nexstar’s focus on mid-sized markets and virtual duopolies with focused concentration on local news resulted in second quarter net revenue growth of 10.1%. Nexstar’s year-over-year gain in gross local and national advertising revenue produced a 9.3% increase. Retransmission consent agreements contributed cash revenues of $2 million as well as approximately $1 million of ad spends in the 2006 second quarter."
The company is still highly leveraged according to the report, owing $642.7 million as of June 30.