This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nexstar Broadcasting Group's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Before we get deeper into our discussion this morning, just like last quarter, I want to quickly address a piece of housekeeping with respect to our announcement on July 21 that the company's Board of Directors decided to explore and evaluate strategic alternatives intended to maximize shareholder value, including the potential of a possible sale of the company.

As indicated in that release, Nexstar does not intend to disclose developments with respect to the strategic review process until such time as the Board has approved the transaction or otherwise, being disclosure to the appropriate. As such, we will not be making comments on this topic today.

Looking deeper now into our revenue growth, the 5.3% rise in core ad revenue and another period of double-digit increases in e-Media, retransmission fee and management fee revenue more than offset the impact of a 74.3% year-over-year reduction in political revenue.

Excluding political revenue from both periods, Nexstar's 2011 third quarter gross revenue rose 8.4% year-over-year. Our total third quarter retransmission fee, e-Media, mobile, management fee revenue cumulatively rose 26% to $15.2 million from the year-ago period. These high-margin revenue streams accounted for about 20.3% of our 2011 third quarter total net revenue compared to 16.5% in the third quarter of 2010, which as I noted a moment ago, benefited from $6.7 million in political revenue.

Furthermore, Nexstar's total net revenue for the third quarter of 2011 is 23.9% ahead of the $60.4 million total net revenue reported in the third quarter of 2009, our last odd year comparison, and our revenue from non-television advertising sources has grown by 56% since that time. Despite the still fragile economic environment, Nexstar's 2011 revenue comparisons, excluding political, had improved on a quarterly sequential basis each quarter throughout the year.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,988.82 +69.23 0.41%
S&P 500 1,986.47 +4.87 0.25%
NASDAQ 4,528.3140 +0.80 0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs