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News Breaks
February 26, 2014
07:08 EDTNXSTNexstar reports Q4 EPS (41c) including items, may not compare to consensus 37c
Reports Q4 revenue $138.1M, consensus $137.84M.
News For NXST From The Last 14 Days
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November 21, 2014
07:01 EDTNXSTNexstar to acquire Las Vegas CBS affiliate KLAS-TV for $145M
Nexstar Broadcasting Group (NXST) announced that it has entered into a definitive agreement to acquire the equity interests and assets of KLAS-TV, the CBS (CBS) affiliate serving the Las Vegas, Nevada market for $145M plus working capital from Landmark Media Enterprises, LLC. The proposed acquisition is expected to be immediately accretive to Nexstarís operating results immediately upon closing and inclusive of all other previously announced transactions, will expand the Companyís portfolio to 110 television stations serving 58 markets in 23 states, reaching approximately 20.3 million television households or 18% of U.S. television households. Nexstar intends to finance the station acquisition with cash generated from operations and borrowings under its senior credit facilities and/or additional capital markets activities. The transaction is subject to FCC approval and other customary approvals, and is expected to close in the first half of 2015. the acquisition, on a pro-forma basis, is expected to add an average of approximately 40c per share of free cash flow per year to Nexstarís operating results over the 2015/2016 period.
November 14, 2014
07:37 EDTNXSTLocal media ad market looks positive, says Wells Fargo
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November 13, 2014
14:30 EDTNXSTRoystone Capital reports 6.03% passive stake in Nexstar
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November 7, 2014
07:10 EDTNXSTNexstar to generate pro-forma cash flow in excess of $365M in FY14, FY15 cycle
The company said, ďLooking ahead, with distribution agreements representing approximately 60% of Nexstarís MVPD subscribers renewed in FY13 and by FY14 year-end, and another 25% of Nexstarís subscriber households up for renewal in FY15, we project visible ongoing revenue growth from this source in FY15 and beyond. Similarly, digital media revenue growth in the remainder of 2014 and in 2015 will further benefit from our recent accretive acquisitions of Internet Broadcasting Systems and Enterprise Technology Group. These strategic additions to Nexstarís existing digital platform and agency capabilities have expanded Nexstarís digital business portfolio to over $50M in annual run rate revenues. As such, inclusive of the two recently announced station transactions and assuming the completion of all other announced transactions, Nexstar would generate pro-forma free cash flow in excess of $365 million during the 2014/2015 cycle, or average pro-forma free cash flow in excess of $6.00 per share per year. Our current operations alone are tracking to generate blended free cash flow of approximately $4.50 per share per year in the current FY14, FY15 period and with just the free cash flow generated from this base of operations, we expect Nexstarís net leverage to decline to approximately 4.0x at the end of FY14.Ē
07:08 EDTNXSTNexstar reports Q3 EPS 48c, consensus 49c
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07:07 EDTNXSTNexstar to acquire assets of KCWI-TV for $3.5M
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