IRVING, TEXAS: Nexstar Broadcasting Group has hired a vendor to track its retransmission agreements, the company said to today. Nexstar tapped Cable Audit Associates of Denver to manage its retrans contracts with telco, cable and satellite operators. CAA will set up a subscriber data base for Nexstar, manage its retrans contracts, process remittance and perform other accounting tasks for Nexstar. Perry Sook, president, chairman and CEO of Nexstar said contracting its retrans management lets the company’s management team to back to running the company. It also provides Nexstar’s 63stations with a sort of collective-bargaining background when they go into retrans negotiations.
CAA does auditing and financial services work for more than 130 TV stations in 67 designated market areas, and it monitors around $10 billion in subscriber fees for 275 cable networks.
More coverage of Nexstar:
November 11, 2009:“Nexstar 3Q Revenues Fall Mostly on Political”
Nexstar’s 63 TV stations generated $60.4 million in the third quarter, down 14 percent from the year-ago period revenues of $70.3 million.
August 25, 2009: “Nexstar Shares Move Most on NASDAQ”
Nexstar Broadcasting Group shares jumped more than 60 percent in trading today before settling down to a 40 percent gain at around $2.60.
August 12, 2009: “Nexstar Revenues Drop Less Than Most Broadcasters”
Nexstar revenues came in at $62.2 million, down 12 percent from $70.6 million.
May 12, 2009: “Nexstar CFO Resigns”
Matthew E. Devine, stepped down as executive vice president and chief financial officer of Nexstar Broadcasting.
April 1, 2009: “Nexstar 4Q Revenues Rise”
The 50 or so Nexstar Broadcasting TV stations generated revenues of $80.3 million during the three months ending Dec. 31 2008, up 12 percent from a year earlier.
March 23, 2009: “Nexstar to Manage Four Points TV Stations”
Under deal terms, Nexstar receives a management fee of $2 million a year plus annual incentive compensation based on cash flow of the stations.
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