Nexstar Broadcasting Group has selected Cable Audit Associates Inc. (CAA) to provide financial management outsourcing services in support of the station group’s retransmission consent agreements with cable, telco and DTH satellite operators. CAA said it will provide a suite of accounting and administrative services to Nexstar which will include contract management, subscriber database setup and maintenance, remittance processing, revenue reconciliation, accounts receivables management and collections.
“By enlisting the support of CAA in our efforts to maximize the value of our retransmission consent agreements we are able to provide ourselves with even more bandwidth to leverage further our management team’s successful operational performance and strategy. CAA’s experiences in transactions-based financial management will be very helpful to our stations as they seek to achieve the highest returns on investment in their programming distributed by cable, telco and satellite video platforms.” said Nexstar CEO Perry Sook.
“Nexstar has demonstrated its commitment to developing new revenue streams, including its leadership role in securing fee-based retransmission consent agreements, and CAA is looking forward to assisting Nexstar stations in managing their licensed-based business activities,” said Bruce Lazarus, CEO of Cable Audit Associates.