IRVING, TEXAS—Nexstar reported record first quarter net revenue of $1.28 billion, up 2.1%, thanks to higher distribution revenue. But advertising revenue at the nation’s largest station group declined slightly despite $39 million in political advertising during Q1.
Approximately 59% of Nexstar’s first quarter revenue was derived from distribution revenue, which hit a record high of $761 million for the company, increasing $33 million, or 4.5%, over the comparable prior year quarter.
