Yearly Archives: 2009
Nexstar Selects Cable Audit Associates
Nexstar Select Cable Audit Associates to Help Support Management of its Retransmission Consent Revenue Stream
Nexstar Broadcasting Group, Inc. has selected Cable Audit Associates, Inc. (CAA) to provide financial management outsourcing services in support of the station group’s retransmission consent agreements with cable, telco and DTH satellite operators. CAA will provide a suite of accounting and administrative services to Nexstar which will include contract management, subscriber database setup and maintenance, remittance processing, revenue reconciliation, accounts receivables management and collections.
“By enlisting the support of CAA in our efforts to maximize the value of our retransmission consent agreements we are able to provide ourselves with even more bandwidth to leverage further our management team’s successful operational performance and strategy” said Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar Broadcasting Group, Inc. “CAA’s experiences in transactions-based financial management will be very helpful to our stations as they seek to achieve the highest returns on investment in their programming distributed by cable, telco and satellite video platforms.”
“Nexstar has demonstrated its commitment to developing new revenue streams, including its leadership role in securing fee-based retransmission consent agreements, and CAA is looking forward to assisting Nexstar stations in managing their licensed-based business activities.” stated Bruce Lazarus, CEO of Cable Audit Associates.
About Nexstar Broadcasting Group, Inc.
Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to 63 television stations in 34 markets in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama, New York, Rhode Island, Utah and Florida. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and reaches approximately 13 million viewers or approximately 11.5% of all U.S. television households.
About Cable Audit Associates, Inc.
Established in 1985, Cable Audit Associates (CAA) provides business-to-business auditing, assurance and revenue systems management services to companies in the media & entertainment industry. In the Broadcast Television sector, CAA provides auditing and financial services support to over 130 TV stations in 67 DMAs reaching over 32% of the total TV households in the United States. In the cable sector, the company currently monitors more than $10 billion in cable network license fees for over 275 cable programmer clients and its audits encompass virtually all major cable system operators, telcos and DTH platforms serving the U.S. and Canada. CAA also offers a suite of auditing, consulting and affiliate account management services.
“Getting to a Retrans Yes,” Retransmission Consent; The Financial Manager
Retransmission Consent was established by Congress in the 1992 Cable Television Protection and Competition Act. It allows market forces to determine the compensation that cable operators pay broadcasters for the right to carry their signal.
Have a look at the full article HERE