While America voted on Tuesday, Nexstar Broadcasting (owner of WEHT Local and WTWO, and operator of Local 7 WTVW and WAWV) reported its third quarter financial results, and the numbers were impressive.
Total revenue for the quarter was up 20% over the same period in 2011, setting a record at $90 million, led by a huge 488% increase in political advertising and 51% in retransmission fees.
The company also improved its cash flow position and continued its program of debt reduction; since December 31, Nexstar has shucked more than $25 million in debt despite having purchased several new stations this year, including five new acquisitions announced on Monday.
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