Top U.S. local TV station owner Nexstar Media Group reported solid third-quarter results, with distribution and core advertising gains offsetting record 2020 political ad spending. The company̵…
reported solid third-quarter results, with distribution and core advertising gains offsetting record 2020 political ad spending.
Distribution revenue climbed 13%, the company said. When the $120 million political surge from the year-ago quarter is excluded, station revenue rose 10%. CEO Perry Sook was asked about the advent of streaming services operated by the same media companies who also own networks. “We do take note of the fact that the networks are often competing with themselves in terms of their streaming offerings, and therefore competing with us,” Sook said. “That means less exclusivity in what we’re buying from the networks. That should come at an impact to the cost, we believe.
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