Nexstar reported its 4th quarter earnings and the company made over $120 million dollars than it did last year.
So, in other words, when your contract is up and they offer you a 2% bump, you tell them bullshit! They company made a net revenue of $798 million for just a single quarter, surely than can afford to give you a decent raise.
What should concern the company is almost all that profit came from political and retransmission fees. In fact, if you look at the breakdown, the company was down in local ad sales and down in national ad sales. Digital was up just 3%, retransmission was up over 12%.
But it was political that brought in the big bucks. For Nexstar, political dollars were up over 1000%.
Nexstar CEO says the numbers will get even better when they takeover Tribune. “Financially, the Tribune Media transaction is expected to nearly double our pro-forma average annual revenue…” Sook said.
So, you might want to print this out and hand it to your boss the next time they tell you that 2% is the “best” they can do.