Nexstar Reports Narrowed Q3 Loss

Nov 4, 2004  •  Post A Comment

Nexstar Broadcasting Group on Thursday reported a narrowed third-quarter loss as the 46-station company posted strong revenue gains from political advertising.

The Irving, Texas-based company reported a loss of $5.7 million, compared with a year-earlier loss of $21.2 million. Revenue rose more than 13 percent to $59.9 million.

Driving the improved results was a nearly five-fold increase in political advertising spending in the quarter to $6 million, largely the result of dollars spent at Nexstar’s stations in Missouri and Pennsylvania. The company also got a lift at its NBC stations, which generated $5 million in Olympics-related advertising during the quarter.