Nexstar Media Group, Inc. · NASDAQ:NXST
Nexstar Media — 24th Annual Leveraged Finance Conference (September 2016)
13 slides from Nexstar Media's conference presentation, Sep 27, 2016
Slide 1: 24th Annual Leveraged Finance Conference
24th Annual Leveraged Finance Conference Keeping it Local NXST: NASDAQ Tom Carter, EVP & CFO September 27, 2016
Slide 2: Safe Harbor
Safe Harbor Forward-Looking Statements This communication includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Forward-looking statements include information preceded by, followed by, or that includes the
Slide 3: Keeping it Local/Driving Diversification
Keeping it Local/Driving Diversification Local Diversified Media Company with Leading Broadcast Television and Digital Media Properties 104 Full Power 37 Duopoly +1,640 Weekly 60+ Community TV Stations Markets Local News Hours Web Portals 62 Markets ~18.1% U.S. ~80% “Big 4” Profitable Digital 25 Sta
Slide 4: Recent Key Operating Events
Recent Key Operating Events Record Financial Results 3M Ended June 30 6M Ended June 30 (in millions) (in millions) 3M Change (%) 6M Change (%) 2016 2015 2014 2016 2015 2014 ‘16 vs. ‘15 ‘16 vs. ‘14 ‘16 vs. ‘15 ‘16 vs. ‘14 Last Even-Year Net Revenue $262.0 $219.3 $146.9 $517.7 $421.1 $280.8 +19.5% +
Slide 5: Growth in NXST Retransmission and Digital Media Revenue
Growth in NXST Retransmission and Digital Media Revenue Retransmission and Digital Media revenue is materially diversifying NXST’s total net revenue NXST Retransmission & Digital Media Revenue NXST Retransmission Revenue ($ millions) $298.0 (% of Total Net Revenue) Retransmission Revenue as a % of T
Slide 6: Nexstar: Leading Pure-Play Broadcast Operator
Nexstar: Leading Pure-Play Broadcast Operator NXST Political Ad Revenue Growth 2016 Key Senate and Gubernatorial Elections Even Year Odd Year 2016 Senate Races 2016 Gubernatorial Races PF Nexstar Market Incumbent Party PF Nexstar Market Incumbent Party 2008 – 2014 CAGR: 25% 2009 – 2015 CAGR: 29% Ala
Slide 7: Consolidation Is Reshaping the Industry Landscape
Consolidation Is Reshaping the Industry Landscape Sorted by percent of US TV households reached 2011 – 33 Major Affiliate Groups 26% 20% 18% 18% 13% 14% 9% 10% 10% 10% 10% 6% 6% 6% 6% 6% 7% 7% 8% 4% 4% 4% 4% 5% 2% 2% 3% 3% 3% 3% 3% 3% 3% 2016 (Pro-Forma) for all announced transactions – 15 Major Aff
Slide 8: NXST/MEG: A Complementary Combination
NXST/MEG: A Complementary Combination Pure-Play Broadcasting and Digital Media Leader Positioned for Long-term Success Creates leading pure-play broadcast operator – Top 2 television broadcaster maximizes benefits of increased scale - $2.3 bn of annual revenue – Strong and complementary nationwide
Slide 9: Leading Pure-Play Broadcast Operator
Leading Pure-Play Broadcast Operator U.S. TV Households Reached Highlights Tribune 44% Media General transaction increases Nextar’s broadcast portfolio by NXST/MEG 39% approximately two-thirds Sinclair 38% – More than doubles Nexstar’s current audience reach TEGNA 31% – Provides entrée to 15 new t
Slide 10: Leading Pure-Play Broadcast Operator
Leading Pure-Play Broadcast Operator Pro forma: 171 Television Stations in 100 markets reaching ~38.9% of all U.S. TV HH Transaction provides entry into 15 top 50 DMAs ____________________ Source: Company filings. Pro Forma Nexstar Media Group Markets 10
Slide 11: Transaction Update
Transaction Update February 2016 – Financing commitment for bank syndication closed, consisting of ten lenders March 2016 – Preliminary Form S-4 filed with SEC1 May / June 2016 – Form S-4 declared effective – Shareholders of NXST and MEG voted to approve merger and acquisition of MEG by NXST –
Slide 12: Transformational Acquisitions and Operating Strategies Driving Record FCF
Transformational Acquisitions and Operating Strategies Driving Record FCF Continued double-digit growth of non-core revenue channels – Political: Even-year CAGR of 25% (2008-2014), odd-year CAGR of 29% (2009-2015) • NXST Political revenue expected to reach ~$100 mm in 2016 – Retransmission: Contra
Slide 13: 24th Annual Leveraged Finance Conference
24th Annual Leveraged Finance Conference Keeping it Local NXST: NASDAQ Tom Carter, EVP & CFO September 27, 2016
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