Nexstar Adjusts 2Q Revenues Down
Nexstar Broadcasting Group Inc. announced today that it has adjusted its 2008 second quarter and six month financial results for the periods ended June 30, which were announced on Aug. 5.
Among them are a decrease of net revenue by $129,000, an increase in selling, general and administrative expenses of $100,000 and a decrease in depreciation expense of $226,000, which had the net effect of reducing income from operations, net income and free cash flow by $3,000 and broadcast cash flow and EBITDA by $229,000.
Nexstar Broadcasting Group will file its Form 10-Q for the period ended June 30, 2008 on August 12, 2008. The company's total leverage ratio at June 30, 2008, giving effect to the remaining indebtedness on its 11.375% senior discount notes due 2013 on which interest payments become cash pay on October 1, 2008, was 6.69x.
All other data as disclosed in the Aug. 5 release remains unchanged, the company said, including information on the its debt and summary 2008 third quarter outlook.
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