Nexstar revenue decreases during third quarter

Business, like sports, is a game of expectations. If you predict, you are going to lose $20 million and you only lose $18 million, you are applauded as a winner.
That seems to be the approach being taken by Nexstar Broadcasting, owner of KSNF in Joplin and KSFX in Springfield, as well as de facto owner of Mission stations KODE in Joplin and KOLR in Springfield.
Nexstar's third quarter results, announced today, show net revenue of $54 million, a decrease of 9.9 percent from the $59.9 million net revenue in the third quarter of 2004. That's not bad, though, since company officials had projected net revenue of $52 to $53 million.
Buried in the news release is the information that the company still owes approximately $644.5 million.
In the release, CEO Perry Sook, pictured, said, "We continue to reposition the company for a return to growth in 2006 by pre-selling advertising in advance of the Winter Olympics, expanding project revenue programs, and launching additional local news broadcasts in several of our markets."
Sook also trumpets the retransmission agreement recently reached with Cox Communications. "Although the confidentiality provisions limit Nexstar and Cox from discussing publicly the financial aspects of this agreement, we are pleased to have reached an economic agreement that is acceptable to both parties. We look forward to announcing additional agreements in the periods ahead." Though Nexstar and Cox have settled their differences, which I am pretty certain do not involve Cox paying Nexstar per customer, the impasse between Nexstar and Cable One in Joplin remains. KSNF and KODE have not been on Cable One since the end of 2004.