Nexstar Media Group, Inc. · NASDAQ:NXST
Nexstar Media — Merger or Acquisition (December 2018)
14 slides from Nexstar Media's merger presentation, Dec 3, 2018
Slide 1: Acquisition of Tribune Media Company
Acquisition of Tribune Media Company December 3, 2018 Enhancing Nexstar’s Position as North America’s Leading Local Media Company Exhibit 99.2
Slide 2: Forward-Looking Statements
Forward-Looking Statements This Presentation 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 words "guida
Slide 3: Nexstar and Tribune: A Powerful Combination
____________________ Source: Company filings and Wall Street research. Excludes divestitures necessary for regulatory approval. July 16, 2018 represents the day the FCC Chairman issued a public statement regarding his intention to circulate a Hearing Designation Order for Tribune’s previously announ
Slide 4: Transaction Summary
Transaction Summary Definitive Agreement Terms $46.50 per share, all cash offer ~$6.4 billion transaction value, including assumption of Tribune debt $0.30 per share ticking fee added for every month beyond 8/31/2019 until closing Ordinary dividends paid by Tribune are netted against ticking fee Syn
Slide 5: Strategic Rationale
Strategic Rationale Enhances Nexstar’s position as America’s leading local television broadcast and local media company Increases geographic diversification and scale Meaningful realizable synergies Strong financial profile with prospects for near and long-term growth Committed financing and clear p
Slide 6: Creates America's Leading Local Broadcast and Media Company
#1 local broadcast group in terms of US TV household reach Creates America’s Leading Local Broadcast and Media Company 39% FCC Cap on National TV Ownership1 ____________________ Source: Company filings and SNL Kagan. Pro forma for all transactions announced to date. US television household reach is
Slide 7: Significantly Increases Geographic Diversification and Scale
Significantly Increases Geographic Diversification and Scale 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1.wor Ny008U43 1130101_1
Slide 8: Adds Complementary Valuable Assets to Nexstar's Platform
Adds Complementary Valuable Assets to Nexstar’s Platform Tribune Has Valuable Media Properties, Equity Investments and Real Estate Assets Television Operations 42 Broadcast TV Stations: 14 Affiliates 6 Affiliates 3 Affiliates 2 Affiliates 12 Affiliates 5 Affiliates Cable Networks Monetization In Pro
Slide 9: Enhanced Competitive Position in Converging Media Industry Landscape
Increased scale positions Nexstar to more effectively compete with other media and innovate Enhanced Competitive Position in Converging Media Industry Landscape Local / National Cable & Regional Sports Networks Digital Video Programming Social Media Outdoor Internet Local / Nat. Print and Digital Me
Slide 10: Meaningful Realizable Synergies Net of Divestitures
Meaningful Realizable Synergies Net of Divestitures Rationalization of station expenses and savings Rationalization of support services Planned migration of revenue from third party vendor Net Retransmission Revenue Applying Nexstar rates to Tribune subscriber counts Corporate Overhead Assumes reduc
Slide 11: Strong Combined Company Financial Profile
Strong Combined Company Financial Profile 2017/2018 Net Revenues ($ millions) 2017/2018 Adj. EBITDA ($ millions) ____________________ Source: Company filings and Wall Street research. Note: 2017 figures are as reported unless otherwise noted. 2018 figures are based on Wall Street research and not pr
Slide 12: Pro Forma Financial Profile and Leverage
____________________ Source: Company filings and Wall Street research. Excludes necessary divestitures for regulatory approval. Adjusted EBITDA includes distributions from TV Food Network. Pro-forma annual revenue of approximately $4.6 billion (2017/2018 average) and pro-forma adjusted EBITDA of app
Slide 13: Long-term Record of Successful M&A Execution, Integration, Value Creation
Long-term Record of Successful M&A Execution, Integration, Value Creation 2011 - 2012 2013 - 2014 2015 - 2016 2017 2003 - 2008 2009 - 2010 1996 - 2002 1996 Company formation 2003 Initial Public Offering 2012 Enters phase of consolidation 2017 Completes acquisition of Media General 2011 Acquires 1 st
Slide 14: Significant growth opportunity
Significant growth opportunity Creates leading pure-play broadcast operator and one of the nation’s leading providers of local news, entertainment, sports, lifestyle and network programming and content through its broadcast and digital media platform Expanded scale and reach appeals to local and nat
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