KARK's Owner Issues Misleading Release About 2Q Financials

by Mark Hengel  on Monday, Aug. 17, 2009 12:00 am  

Nexstar Broadcasting of Irving, Texas - owner of KARK-TV, Channel 4, and several other Arkansas properties - last week reports its second-quarter financial results.

The headline on the press release read "Nexstar Broadcasting Reports Second Quarter Revenue of $62.2 Million Reflecting 56% Rise in Total Retransmission, e-Media and Management Fee Revenue."

It was a reminder that publicly traded companies have to disclose the gory details, but they don't have to put them in the headline.

The rest of the release showed that $62.2 million in revenue was a 12 percent year-over-year decline, while its net income was $9 million, down 44 percent from the same period a year ago.

 

 

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