For the second consecutive quarter, Nexstar Media Group benefited from strong growth in its retransmission fee revenue to overcome flat local revenue and a dip in national revenue.
However, the broadcast TV company’s total Q2 net revenue came in slightly below Street estimates as its EPS easily beat the Street.
Still, investors appear to be somewhat wary of Nexstar’s growth plan. Even with the earnings release, the company’s shares are slumping — and a lack of a retrans consent pact with one of the two DBS providers is the likely reason.
