Today's Scranton PA Times features an article describing the hard times that have hit Nexstar Broadcasting owner of KSNF in Joplin and KSFX in Springfield, as well as de facto owner of KODE in Joplin and KOLR in Springfield.
According to the article, "Nexstar Broadcasting Group Inc. fell a dizzying 45 percent in 2005 as the owner of dozens of mid-sized market television stations struggled for a profit. Since its initial public offering in 2003, the stock has been in freefall."
It remains to be seen whether its recent victories in negotiations with cable companies will improve Nexstar's fortunes.
The victory is the fact that they're back on the cable. For Nexstar's sake they better hope it's not to late. They lost viewers and advertisers with their stupid move, not to mention credibility.
ReplyDeleteWhere was Nexstar's Board of Directors during the conflict with Cable One? As an FCC licensee, Nexstar has the obligation to work in the public's interest FIRST. Unfortunately, the ego, greed, and arrogance of Nexstar's management seemed to cloud their judgement and sense of duty. Where was the Board? It dropped the ball as their managment kept up its 'lone ranger' attitude and tried to change the landscape of cable and broadcast television. Watch now how the unforgiving marketplace extracts revenge. Pay backs are hell, and we will see this company and hopefully management pay with further losses and their jobs as the individual stock holders and institutions dump the stock.
ReplyDelete