Digging a little deeper on our first quarter. Our gross local and national television ad revenue growth of 3.3% to $58.3 million is on top of the 17.6% growth recorded in last year's first quarter. First quarter 2011 local revenue rose by 3.7%, national revenue was up 2.1%. The strength in automotive advertising continued for us in Q1. Category revenue rising 10% year-over-year, marking the seventh consecutive quarter of double-digit revenue gains in automotive ad spend for Nexstar.Nexstar's television ad revenue strength, combined with continued double-digit growth in retransmission fee, mobile, and e-MEDIA elements of our quadruple play of revenues and our quarterly management fee revenue collectively resulted in a 1.9% increase in total first quarter net revenues to $69.9 million. Additionally, we generated first quarter BCF of $24.8 million, adjusted EBITDA of $20 million, free cash flow of $3.6 million, all of which are record levels for an odd year first quarter.
Nexstar Broadcasting Group's CEO Discusses Q1 2011 Results - Earnings Call Transcript
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