Nexstar Media Group, Inc. · NASDAQ:NXST
Nexstar Media — Deutsche Bank 25th Annual Media & Telecom Conference (March 2017)
18 slides from Nexstar Media's conference presentation, March 2017
Slide 1: Nexstar Media Group, Inc. Deutsche Bank 25th Annual Media & Telecom Conference
NXST: NASDAQ Nexstar Media Group, Inc. Deutsche Bank 25th Annual Media & Telecom Conference Perry Sook, Chairman, President & CEO Tom Carter, EVP and CFO MARCH 2017
Slide 2: Disclaimer
Disclaimer 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: Nexstar Media Group, Inc. (Nasdaq: NXST)
Nexstar Media Group, Inc. (Nasdaq: NXST) Largest North American Local Media Company Positioned for Success and The Ongoing Enhancement of Long-Term Shareholder Value • Pure-play broadcast television and digital media leader with broad geographic scale and reach – #2 in broadcast group in terms of U.
Slide 4: Record Financial Results For Fifth Consecutive Year
Record Financial Results For Fifth Consecutive Year Record Financial Results For Fifth Consecutive Year • Surpassed $1.0 bn in annual net revenues for the first time in the Company’s history • Generated ~$7.98 of FCF per share, or +18.4% growth over 2015 levels, excluding MEG-transaction fees NXST g
Slide 5: Largest North American Local Media Company
Largest North American Local Media Company 170 Local TV Stations 40 U.S. States 100 U.S. Markets 39% Household Reach Growing Digital Business 5
Slide 6: Leading Pure-Play Broadcast Operator
Leading Pure-Play Broadcast Operator % of U.S. Television Households Reached Household Reach Excluding UHF Discount 44% Household Reach Including UHF Discount 39% 38% 38% 37% 39% FCC Cap on National TV Ownership 32% 27% 27% 27% 23% 26% 25% 24% 24% 19% 19% 21% 13% 11% 11% 14% 14% 9% 12% 10% 6% 7% 7%
Slide 7: Expanded Geographic Reach and Increased Scale
Expanded Geographic Reach and Increased Scale 170 Local Television Stations across 100 markets in 40 U.S. States 7
Slide 8: Nexstar Broadcasting, Inc.
Nexstar Broadcasting, Inc. Superior Locally Produced Content and Network Programming for Viewers; Unrivaled Consumer Reach / Influence for Local Businesses and Advertisers • Leading local broadcast television operator – #2 in broadcast group in terms of U.S. television household reach – Owns or prov
Slide 9: Nexstar Digital LLC
Nexstar Digital LLC Comprehensive Suite of Cross-platform Digital Marketing Products and Services for Local and National Media Companies, Advertisers, Agencies and Brands • Leading local digital advertising and content monetization solutions and services – Profitable / growing business segment with
Slide 10: Growth in NXST Retransmission and Digital Media Revenue
Growth in NXST Retransmission and Digital Media Revenue Retransmission and Digital Media revenue is materially diversifying NXST’s total net revenue NXST Retransmission & Digital Media Revenue NXST Retransmission Revenue ($ millions) (% of Total Net Revenue) $394.0 $298.0 Retransmission Revenue as a
Slide 11: Growth in NXST Political and Issue Advertising
Growth in NXST Political and Issue Advertising NXST Political Ad Revenue Growth NXST 2018 Political ($ millions) Senate and Gubernatorial Elections 2018 Senate Races 2018 Gubernatorial Races Even Year Odd Year NXST Market Incumbent Party NXST Market Incumbent Party Arizona Jeff Flake R Alabama Rober
Slide 12: Significant FCF Growth Since IPO
Significant FCF Growth Since IPO NXST Free Cash Flow Growth (FY) Based on Two-Year Cycles ($ in millions) $453.1 $244.7 $114.7 $80.0 $41.7 $54.3 $15.1 2003/2004 2005/2006 2007/2008 2009/2010 2011/2012 2013/2014 2015/2016 Organic growth, fueled by political, digital and retrans revenues, and recently
Slide 13: Historical Financial Summary (in millions)
Historical Financial Summary (in millions) FY Net Revenue FY Core Revenues $1,103 $523 $532 $896 $389 $349 $631 $502 $250 $238 $266 $236 $247 $213 $379 $313 $306 $267 $285 $252 $176 $172 $157 $174 $182 $190 $265 $279 $369 $388 $74 $66 $55 $62 $66 $76 $113 $110 $154 $144 2007A 2008A 2009A 2010A 2011A
Slide 14: 4Q / Full Year 2016 Financial Summary
4Q / Full Year 2016 Financial Summary 1) Definitions and disclosures regarding non-GAAP financial information can be located in the Company’s Fourth Quarter 2016 Financial Results press release dated Feb. 28, 2017 2) Broadcast cash flow margin is broadcast cash flow as a percentage of net revenue. A
Slide 15: Debt/Leverage Analysis
Debt/Leverage Analysis MEG Post-MEG TTM ENDED Closing Closing (in millions) 12/31/2011 12/31/2012 12/31/2013 12/31/2014 12/31/2015 12/31/2016 01/17/2017 02/17/2017 Revolver $ 24.3 $ - $ - $ 5.5 $ 2.0 $ 2.0 $ 3.0 $ 3.0 First Lien Term Loans 148.1 288.3 545.4 705.1 682.2 662.2 3,120.0 3,045.0 8.875% S
Slide 16: Combined Company Guidance
Combined Company Guidance On January 17, 2017 Nexstar Completed the Acquisition of Media General and Expects to Generate its Sixth Consecutive Year of Record Financial Results • The transaction is projected to more than double NXST’s revenue and adjusted EBITDA • Readily achievable year one synergie
Slide 17: Transformational M&A and Operating Strategies Driving Record FCF
Transformational M&A and Operating Strategies Driving Record FCF • Continued double-digit growth of non-core revenue channels – Political: Even-year CAGR of 35% (2008-2016), odd-year CAGR of 31% (2007-2015) • NXST Political revenue exceeded ~$100 mm guidance in 2016 by 8.5% – Retransmission: Contrac
Slide 18: Nexstar Media Group, Inc. Deutsche Bank 25th Annual Media & Telecom Conference
NXST: NASDAQ Nexstar Media Group, Inc. Deutsche Bank 25th Annual Media & Telecom Conference Perry Sook, Chairman, President & CEO Tom Carter, EVP and CFO MARCH 2017
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