(Corrects spelling of executives name to Sook in paragraphs 1
By Sinead Carew
Sept 21 Nexstar Broadcasting Group Inc
has already has booked orders for more than two thirds of its
2016 political ad spending target, Chief Executive Officer Perry
Sook said on Wednesday, but he stopped short of raising the
The company planned to tell investors at an investment
conference later in the day that it was standing by the target
for $100 million in political revenue for the year.
In a U.S. Presidential election year about half of political
ads tend to be booked between Oct. 1 and election day in
November, Sook told Reuters in a phone interview. But even
though the company is tracking ahead of this so far, Sook told
Reuters he was not prepared to raise the company's guidance.
"We're very comfortable with the number we've given to the
street," he said. "If you did the math you would probably bet to
the upside but we're not guiding to that because you can't use
history as your only guide."
He added that the company's political ad revenue will
primarily be driven by senate and gubernatorial races rather
than the Presidential election.
The comments came the day after shares in broadcasters
including Nexstar fell sharply after rival Sinclair Broadcast
Group warned its third quarter media revenue would miss
its previous forecast because of a political spending shortfall.
(Reporting By Sinead Carew; Editing by David Gregorio)