New revenues streams fuel Nexstar

CEO Perry Sook is looking forward to a banner year in 2008 with "explosive growth" from political revenues, but Q3 of 2007 still brought overall revenue growth with the addition of a new station and, importantly, a 29% increase in retransmission consent revenues. Q3 revenues rose 1.4% to 64.5 million, but broadcast cash flow declined 5% to 22.8 million. On a same station basis, revenues were down 3.1%.

Looking at Q4 pacings, Sook says the auto sector may finally have bottomed out, which would be good news for Nexstar and everyone else in the TV business. Against tough comps, Nexstar is looking for Q4 revenues to be down 8-10.6%.

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