In addition to a political advertising windfall, Nexstar said it entered into cable and satellite terms that were favorable to the company, which allowed it to earn more money from its channels.
Nexstar Media Group has hired a long-time policy advisor to serve as its newest representative in Washington, D.C.
The company earned $1.27 billion in revenue during the quarter, slightly lower than Wall Street estimates.
Nexstar’s CEO Perry Sook disparaged the streaming television business, several weeks after the company’s broadcast network launched its first free streaming TV channel.
The largest independent owner of television stations in the country saw its net revenue fall to $4.933 billion during 2023.
Nexstar saw a significant decline in its political and overall advertising revenue during the second financial quarter of the year.
Nexstar CEO Perry Sook has been elected to serve as the chairman of NAB’s Joint Board of Directors, the organization said this week.
The company’s chairman and CEO, Perry Sook, had a big $39 million payday last year, filings reveal.