“The long-term value being created from our platform building, revenue diversification and capital structure strategies is evident in the economic benefits of this transaction as we expect to generate $100 million in additional net revenue and over $50 million in annual incremental broadcast cash flow beginning in 2014. On a pro forma basis, the transaction is anticipated to add $1 per share in free cash flow with Nexstar’s total pro forma free cash flow expected to rise to over $300 million over the 2014/2015 cycle. This would amount to average pro-forma free cash flow of approximately $5.00 per share per year in the 2014/2015 period.“In summary, Nexstar’s ongoing operating execution and discipline in managing costs, combined with select accretive station transactions have positioned the Company to achieve record revenue and free cash flow in 2013 and beyond. At the same time, our focus on the capital structure and cost of capital have positioned Nexstar with the financial flexibility to further consolidate mid-sized markets and return capital to shareholders while maintaining a favorable leverage profile, which, pro-forma for the completion of all announced transactions is expected to result in a total leverage ratio of approximately 3.5 times at year-end 2014.”
Nexstar Broadcasting Second Quarter Net Revenue Rises 42.0% To A Record $126.2 Million
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.