Leading local TV station owner Nexstar Media Group, led by chairman and CEO Perry Sook, has unveiled its third quarter financial results, with advertising sales sliding on sharply lower political ad revenue.

Advertising revenues during the third quarter fell 23.5 percent to $476 million, compared to a year-earlier $622 million when the U.S. election cycle contributed $145 million in ad revenue. And distribution revenues for the third quarter were down 1.4 percent to $709 million.

Overall revenues at Nexstar were down 12.3 percent to $1.19 billion during the latest quarter. And the net income line came in at $65 million, down from a year-earlier net income of $180 million, due in part to lower political advertising revenue and higher one-time corporate expenses from Nexstar’s pending

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