Nexstar Earnings Down $50 Million

Nexstar reported their 1st quarter earnings and it was down $50 million year-over-year.

First quarter advertising revenue decreased $52 million, a drop of 10.2% year over year.

But, Uncle Perry is still licking his chops over the opportunity to buy more stations when the Trump FCC drops ownership rules.

“During the quarter we deployed our Adjusted Free Cash Flow to repay debt, pay dividends, repurchase stock and — what we hope to be an increasing use of our strong balance sheet — make an acquisition",” Sook said.

He also said, presumably with a straight face,”…..facilitate organic growth initiatives as we further elevate The CW and NewsNation to top-tier networks.”

That News Nation comment is a doozy.