If you thought the political dollars achieved in the second quarter by Sinclair Broadcast Group were huge, just wait ’til you see how Nexstar Media Group — the biggest licensee of broadcast TV stations — performed in the three-month period ending June 30.
The owner of such stations as WJMN in Marquette, WOOD & WOTV in Grand Rapids and WLAJ & WLNS in Lansing — properties in the key primary election state of Michigan — enjoyed an eye-popping 920% increase in its political ad dollars from the second quarter of 2021.
This growth resulted in a 2.5% dip in core advertising revenue. And …? Net income surged by 13.4% as Adjusted EBITDA zoomed ahead by 16.1%.
