Tuesday, March 18, 2008
Sook: Competitive races in Missouri will boost political spending at Nexstar stations
Competitive statewide races in Missouri and other states are expected to boost sales of political advertising at Nexstar Broadcasting stations, CEO Perry Sook said March 6 during the company's fourth quarter earnings call.
Sook said, "We stand to gain from the presidential spending surge as well as from the fact that we have several competitive statewide races this year in Arkansas, Missouri, Pennsylvania, Louisiana, Indiana and Texas as well as about a dozen competitive congressional races across our footprint. Our base projection for 2008 political revenue was in the low to mid $30 million range which is above the approximate $27 million that we booked in both 2004 and 2006.
"The upside from political alone will result in Nexstar generating significant free cash flow and we intentionally time the completion of our digital conversions and our HDTV rollout to coincide with the 2008 political cycle."
A transcript of the entire call can be found at this link.