Nexstar Media Group Wednesday reported financial results for the fourth quarter of 2019 that included net revenue of $1.1 billion, up 37.9% from $798 million in the same quarter of 2018.
The results reflect the impact of Nexstar’s acquisition of Tribune Media, including WGN 720 AM, that closed on Sept. 19.
The revenue numbers break down to:
- Core advertising revenue of $525,458,000, a 76% increase.
- Political advertising revenue of $36,526,000, down 73.9%.
- Digital revenue of $74,310,000, up 14.2%.
- Distribution fee revenue of $445,831,000, up 56.7%.
- Other revenue of $17,965,000, up 37.9%.
- Fourth quarter net income totaled $113,851,000, a drop of 26.3% from $154,490,000 a year ago.