“Pro-forma for the completion of these transactions, the soon-to-be completed CCA transaction and recent improvements in our cost of borrowings, we believe Nexstar will generate free cash flow of approximately $330 million in the 2014/2015 cycle, representing an increase of approximately 10% over our prior expectations. This translates to average pro-forma free cash flow of approximately $5.50 per share per year in the 2014/2015 period and based on recent refinancing activity, our current financing plans and the significant free cash flow to be generated from our expanded operating base, we continue to expect Nexstar’s net leverage to be in the mid-3x level at the end of 2014.“Upon completing all announced transactions, Nexstar will expand its geographic diversity and scale and own or provide services to 96 stations reaching approximately 14.6% of all U.S. television households. Consistent with our M&A criteria that emphasizes the development of duopolies, we will own or provide services to multiple stations in 33 of the 51 markets where we will operate.
Nexstar Broadcasting Third Quarter Net Revenue Rises 39.8% To A Record $125.8 Million
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