Nexstar Broadcasting Group, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net revenue of $112,205,000 compared to $83,642,000 a year ago. Income from operations was $17,818,000 compared to $17,505,000 a year ago. Income before income taxes was $1,185,000 compared to $4,596,000 a year ago. Net income was $705,000 or $0.02 diluted per share compared to $3,016,000 or $0.10 basic and diluted per share a year ago. Adjusted EBITDA was $33,064,000 compared to $28,636,000 a year ago. Capital expenditures were $6,780,000 against $4,043,000 a year ago. For the quarter, net revenue rose 34.2% as the benefit of recently completed accretive acquisitions combined with the ongoing execution of strategies to leverage local content and diversify revenue sources more than offset a total of approximately $4 million of revenue in the year-ago period related to nonrecurring political advertising as well as the final payment under the 4 points management agreement last first quarter. First quarter 2013 broadcast cash flow and adjusted EBITDA grew 16.9% and 15.5%, respectively, inclusive of onetime expenses of $1.3 million related to recent capital markets and station group acquisition activities. First quarter 2013 free cash flow grew 180% over the first quarter of 2011, the previous nonpolitical period. Core revenue was $83.3 million, up 32.6% over the $62.8 million for the first quarter of 2012. Capital expenditure in 2013 will be approximately $18.20 million.

Nexstar Broadcasting Group, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.12 per share of its Class A and Class B common stock. The dividend is payable on May 31, 2013, to shareholders of record on May 17, 2013.

To discuss about the definitive agreements to acquire the stock of privately-held Communications Corporation of America and White Knight Broadcasting by Nexstar Broadcasting Group, Inc. and Mission Broadcasting, Inc