Nexstar executives say the company is on pace to return about $72M to shareholders this year, or $2 a share.
At the RBC Capital Markets’ Technology, Internet, Media and Telecommunications Conference, Nexstar said the broadcaster has generated nearly $140M in free cash flow year to-date.
The company boasts 112 television stations and 36 multicast channels and is number one or two in revenue share in 70% of its markets.
Q3’15 digital media and retransmission fee revenue of $100.2 million increased 86.6% over prior year level and accounted for 44.5% of net revenue.
Television continues to be dominant in consumer’s media lives. In Q2 2015, traditional TV viewing (live + time shifted) accounted for approximately 95% of total weekly time spent on video, with more than four hours and forty minutes of average daily viewing per person, according to the company. Core advertising trends remain stable, according to the company.
