Nexstar Broadcasting CEO Perry Sook told investors that his company lost several million dollars during its year-long battle with cable companies over retransmission rights, but says it was worth it.
During a conference call with the investor firm of Bear Stearns & Co., Sook said his retransmission deals would net Nexstar, owner of KSNF and de facto owner of KODE in Joplin, would bring in $40 million over a five-year period, according to an article in Multichannel News. The two Joplin stations were kept of Cable One for nearly a year during the dispute.
The article indicated it is unclear just how much is coming to Nexstar in the form of cash. Sook referred to it as "contracted cash," according to the article, and it appears that nearly a third of it, or around $13 million is in advertising.
"Some of the recent retransmission-consent deals also involve Nexstar stations licensing some of their local news to be used by cable operators for local video-on-demand, Sook added." the article said.
Nexstar also owns KSFX in Springfield and is de facto owner of KOLR.
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