Nexstar Media Group, Inc. · NASDAQ:NXST
Nexstar Media — Investor Presentation (September 2021)
20 slides from Nexstar Media's investor presentation, September 2021
Slide 1: Nexstar Media Group, Inc. Investor Presentation September 2021
Nexstar Media Group, Inc. Investor Presentation September 2021 Perry A. Sook, Founder, Chairman & CEO Tom Carter, President & COO Lee Ann Gliha, EVP and CFO
Slide 2: Disclaimer
Disclaimer 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 w
Slide 3: Nexstar Media Group, Inc. (Nasdaq: NXST) Overview
Nexstar Media Group, Inc. (Nasdaq: NXST) Overview North America’s largest local media company – Positioned for the ongoing enhancement of shareholder value • Local media and content leader with unrivaled geographic scale, reach, consumption – #1 US television broadcaster with 199 stations in 116 mar
Slide 4: Largest Local Affiliate Broadcast Group by U.S. TV Household Reach
Largest Local Affiliate Broadcast Group by U.S. TV Household Reach #1 local broadcast TV affiliate station group and one of the largest producers and distributors of local news, lifestyle, sports and network programming % of U.S. Television Households Reached, Inclusive of UHF Discount 39% FCC Cap o
Slide 5: Strong Local Television Brands with Leading Local News and Content
Strong Local Television Brands with Leading Local News and Content Award-winning journalism, top-rated network programming and premium local and regional multi-platform marketing opportunities NEXSTAR BROADCASTING OPERATING BASE 275,000+ HOURS OF LOCAL CONTENT ANNUALLY LOCAL AND NETWORK 199 AFFILIAT
Slide 6: NewsNation: Growing National Cable News Network
NewsNation: Growing National Cable News Network NewsNation draws on the local, regional, and national expertise of Nexstar’s 5,500 journalists in local newsrooms across the country • NXST launched its primetime national newscast, NewsNation, on Sept. 1, 2020 • In 2021, WGN America was rebranded as N
Slide 7: Leading Digital News Network with Strong Audience Engagement
Leading Digital News Network with Strong Audience Engagement Nexstar’s digital network delivered record audience engagement, ranking #1 in local news for every month of 2020 TOP 5 NEXSTAR DIGITAL COMSCORE DIGITAL NEWS “CONTENT FIRST” STRATEGY TOP 50 • LOCAL BROADCAST NEWS WEBSITES AND MOBILE APPS CO
Slide 8: 2021: Second Quarter and Year-to-Date Financial Results
2021: Second Quarter and Year-to-Date Financial Results NXST Generated Strong Second Quarter and Record First Half Financial Results in 2021 NXST 2021 Financial Results Y/Y and Non-Political Odd-Year Comparison1,2 3M Ended Jun. 30 6M Ended Jun. 30 3M Change (%) 6M Change (%) (in millions) (in millio
Slide 9: 2021 YTD Highlights
2021 YTD Highlights FINANCIAL RESULTS SHAREHOLDER RETURNS • Record 1H21 financial results across all key metrics including revenue, • Early 2021, Board approved a 25% increase in the quarterly cash adjusted EBITDA and free cash flow dividend to $0.56 per share and an additional $1.0 bn share • 2Q 20
Slide 10: 2021 YTD Highlights: M&A and Operations
2021 YTD Highlights M&A The Hill and NewsNation are the most Attractive growth opportunity with a sizable • Completed the accretive acquisition of leading independent political centrist of leading news outlets combined linear digital audience digital media platform, The Hill, for $130 mm in 3Q 2021
Slide 11: Growth in NXST Retransmission Revenue
Growth in NXST Retransmission Revenue TV ratings and programming cost analysis supports continued growth in retransmission fee revenues given broadcast’s strong viewership trends compared to basic cable SNL Kagan Programming Cost Estimates Comscore TV Essentials Ratings Data1 2015 2016 2017 2018 201
Slide 12: Growth in NXST Political and Issue Advertising
Growth in NXST Political and Issue Advertising 2022 Senate Races 2022 Gubernatorial Races ▪ NXST significantly exceeded its 2020 full year political revenue (34 Total Races; 29 in NXST Markets) (38 Total Races; 29 in NXST Markets) guidance, generating $507 million in political advertising revenue Ma
Slide 13: Growth in Local Broadcast TV News Viewership and NXST Digital User Engagement
Growth in Local Broadcast TV News Viewership and NXST Digital User Engagement Age 18+ Local Broadcast TV Evening News Viewership (Live +1) Average Cumulative Weekly Impressions ▪ Local broadcast television remains an essential source Impressions (000) and Percent Increase vs. 2019 2019 2020 for crit
Slide 14: Significant Pro Forma FCF Growth
Significant Pro Forma FCF Growth ($ in millions) NXST Average Annual Free Cash Flow Growth (FY) Based on Two-Year Cycles 3 $1,330 2 $872 1 $577 $227 $123 $58 2011/2012 2013/2014 2015/2016 2017/2018 2019/2020 2021/2022 1 Reported average annual free cash flow before transaction expenses in the twenty
Slide 15: Prudent Allocation of Capital in 2020
Prudent Allocation of Capital in 2020 • NXST brought ~28% of every net revenue dollar to the free cash flow line in NXST 2020 Capital Allocation Mix (%) 2020, allowing the Company to strategically deploy cash in a manner that is consistent with its commitment to leverage reduction and shareholder re
Slide 16: Local Leadership Combined with Disciplined Operating Strategies Driving Record FCF
Local Leadership Combined with Disciplined Operating Strategies Driving Record FCF • Continued growth of non-core revenue channels – Political: NXST exceeded its 2020 full year political revenue guidance, generating $507 million in political advertising revenue – Retransmission: Contract renewals fo
Slide 17: Historical Financial Summary (in millions)
Historical Financial Summary (in millions) FY Net Revenue FY Income From Operations $4,501 $1,375 $3,039 $2,767 $2,432 $758 $655 $506 $1,103 $896 $287 $502 $631 $173 $206 $313 $306 $379 $100 $103 $31 $48 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2010 2011 2012 2013 2014 2015 2016 2017 2
Slide 18: Summary 2Q21 and YTD Results
Summary 2Q21 and YTD Results Summary 2021 Second Quarter and YTD Financial Highlights Three Months Ended June 30 Six Months Ended June 30 ($ in thousands) 2021 2020 Change 2021 2020 Change Core advertising revenue $423,458 $298,240 +42.0% 835,172 715,619 +16.7% Political revenue $8,511 $21,566 (60.5
Slide 19: Debt / Leverage Analysis
Debt / Leverage Analysis TTM ENDED 3M ENDED (in millions) 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 6/30/21 Revolver $ 2.0 $ 3.0 $ 5.6 $ - $ 327.0 $ 59.0 First Lien Term Loans 662.2 2,791.9 2,407.5 5,860.4 4,559.1 4,778.8 6.875% Sr. Sub Notes 520.7 - - - - - 6.125% Sr. Sub Notes 272.6 273.0 273.4
Slide 20: Nexstar Media Group, Inc. Investor Presentation September 2021
Nexstar Media Group, Inc. Investor Presentation September 2021 Perry A. Sook, Founder, Chairman & CEO Tom Carter, President & COO Lee Ann Gliha, EVP and CFO
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