Nexstar Media Group, Inc. · NASDAQ:NXST

Nexstar Media — Wells Fargo Technology, Media & Telecom Conference 2016

16 slides from Nexstar Media's conference presentation, November 2016

  1. Slide 1: Keeping it Local

    Technology, Media & Telecom Conference Keeping it Local NXST: NASDAQ Perry Sook, Chairman, President & CEO Tom Carter, EVP & CFO November 2016

  2. 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

  3. 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

  4. Slide 4: Recent Key Operating Events

    Recent Key Operating Events  Record Financial Results 3M Ended Sept. 30 9M Ended Sept. 30 (in millions) (in millions) 3M Change (%) 9M Change (%) 2016 2015 2014 2016 2015 2014 ‘16 vs. ‘15 ‘16 vs. ‘14 ‘16 vs. ‘15 ‘16 vs. ‘14 Last Even-Year Net Revenue $275.7 $223.0 $157.7 $793.3 $644.1 $438.5 +23.6%

  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

  6. Slide 6: Growth in NXST Political and Issue Advertising

    Growth in NXST Political and Issue Advertising NXST Political Ad Revenue Growth NXST 2016 Political ($ millions) Key Senate and Gubernatorial Elections Even Year Odd Year 2016 Senate Races 2016 Gubernatorial Races CAGR: 25% 2008-2014 CAGR: 29% 2009-2015 Nexstar Market Incumbent Party Nexstar Market

  7. 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

  8. 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

  9. 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

  10. 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

  11. Slide 11: Transaction Update

    Transaction Update  February / March 2016 – Financing commitment for bank syndication closed, consisting of ten lenders – 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 – NXST

  12. Slide 12: Growing Two-Year Free Cash Flow Cycle (FY)

    Growing Two-Year Free Cash Flow Cycle (FY) Significant FCF Growth Since IPO NXST FCF based on two year cycles $368.0 ($ in millions) $165.4 $94.3 $45.4 $55.5 $46.2 2004/2005 2006/2007 2008/2009 2010/2011 2012/2013 2014/2015 Organic growth, fueled by political, digital and retransmission revenues, an

  13. Slide 13: Historical Financial Summary (in millions)

    Historical Financial Summary (in millions) FY Net Revenue FY Core Revenues $896.4 $522.9 $631.3 $389.1 $348.8 $502.3 $249.8 $237.7 $266.3 $378.6 $235.9 $247.3 $212.5 $313.4 $306.5 $266.8 $284.9 $252.0 $175.5 $171.6 $157.4 $173.9 $181.6 $190.2 $265.4 $279.2 $369.3 $74.3 $66.1 $55.1 $62.0 $65.7 $76.1

  14. Slide 14: Debt/Leverage Analysis

    Debt/Leverage Analysis TTM ENDED 9M ENDED (in millions) 12/31/2011 12/31/2012 12/31/2013 12/31/2014 12/31/2015 09/30/16 Revolver $ 24.3 $ - $ - $ 5.5 $ 2.0 $ 2.0 TLB 148.1 288.3 545.4 705.1 682.2 668.7 8.875% Sr. Sec 2nd Lien Notes 318.4 319.4 - - - - 6.875% Sr. Sub Notes - 250.0 525.7 525.6 519.8 5

  15. Slide 15: 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 exceeded 2016 guidance of $100 mm • Retransmission: Contrac

  16. Slide 16: Technology, Media & Telecom Conference

    Technology, Media & Telecom Conference Keeping it Local NXST: NASDAQ Perry Sook, Chairman, President & CEO Tom Carter, EVP & CFO November 2016

Nexstar Media Group — Wells Fargo Technology, Media & Telecom Conference 2016 on 6ix