Exhibit 99.1

 

LOGO

New Media Announces Solid Fourth Quarter & Full Year 2018 Results,

Dividend of $0.38 per Common Share

 

NEW YORK, N.Y. February 27, 2019 – New Media Investment Group Inc. (“New Media” or the “Company”, NYSE: NEWM) today reported its financial results for the fourth quarter and full year ended December 30, 2018.

Fourth Quarter 2018 Financial Summary

 

   

New Media declared a cash dividend of $0.38 per common share for the fourth quarter of 2018

 

   

Operating income of $25.2 million

 

   

Net income attributable to New Media of $13.3 million

 

   

Total revenues of $416.0 million, an increase of 5.5% to prior year on a reported basis, and down 6.6% on an organic same store basis excluding, for comparability, the impact of ASC Topic 606

 

   

Natural disasters affected several properties, which we estimate resulted in approximately $2.3 million of loss to revenue, As Adjusted EBTIDA and Free Cash Flow within the fourth quarter. Adjusting for this impact, organic same store revenue would have been down 6.0%.

 

   

Digital revenue of $48.4 million, an increase of 16.4% to prior year on a reported basis

 

   

As Adjusted EBITDA of $56.4 million

 

   

Free Cash Flow of $42.7 million

 

   

Liquidity, consisting of cash on the balance sheet and undrawn revolver, of $88.2 million at the close of Q4 2018

Full Year 2018 Financial Summary

 

   

Operating income of $58.1 million

 

   

Net income attributable to New Media of $18.2 million

 

   

Total revenues of $1.53 billion, an increase of 13.7% compared to the prior year on a reported basis and a decrease of 5.3% compared to the prior year on an organic same store basis excluding, for comparability, the impact of ASC Topic 606

 

   

Digital revenue of $179.2 million, an increase of 25.2% year-over-year on a reported basis

 

   

As Adjusted EBITDA of $181.8 million

 

   

Free Cash Flow of $131.9 million

Business Highlights

 

   

Closed the acquisition of The Oklahoman in Oklahoma City, OK for $12.5 million on October 1, 2018

 

   

Closed the acquisition of Progressive Business Media for $35.0 million on November 16, 2018

 

   

UpCurve, our small and medium business (“SMB”) solutions platform, achieved $26.9 million in revenue for the fourth quarter, a 29.6% increase as compared with the same quarter in the prior year. Excluding the $1.6 million impact of ASC Topic 606, UpCurve revenue growth increased 37.5% compared to prior year period.

 

   

GateHouse Live and Promotions achieved $10.2 million in revenue, a 23.8% increase compared with the prior year period

 

   

Subsequent to year end, closed the acquisition of the publishing arm of Schurz Communications for $30.0 million on January 31, 2019

 

1


The following information was filed by New Media Investment Group Inc. (NEWM) on Wednesday, February 27, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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