Nexstar Media Group, Inc. (NXST) 10-K Annual Report March 2014

Irving, TX – February 26, 2014 – Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (“Nexstar”) today reported financial results for the fourth quarter and year-ended December 31, 2013 as summarized below:

Summary 2013 Fourth Quarter Highlights

($ in thousands)	Three Months Ended December 31,									Twelve Months Ended December 31,
	2013			2012			Change			2013			2012			Change
Local Revenue	$	75,106		$	52,633			+42.7	%	$	265,376		$	190,168			+39.5	%
National Revenue	$	32,827		$	20,580			+59.5	%	$	113,423		$	76,123			+49.0	%
Local and National Core Revenue	$	107,933		$	73,213			+47.4	%	$	378,799		$	266,291			+42.3	%

Political Revenue	$	1,537		$	27,347			(94.4	)%	$	5,152		$	46,276			(88.9	)%
Digital Media Revenue	$	6,623		$	5,322			+24.4	%	$	30,846		$	18,363			+68.0	%
Retransmission Fee Revenue	$	26,815		$	16,052			+67.1	%	$	101,119		$	60,933			+66.0	%
Management Fee Revenue	$	0		$	0			-		$	0		$	1,961			(100.0	)%
Network Comp, Other	$	1,070		$	1,363			(21.5	)%	$	4,280		$	3,708			+15.4	%
Trade and Barter Revenue	$	8,347		$	6,353			+31.4	%	$	31,529		$	21,920			+43.8	%
Gross Revenue	$	152,325		$	129,650			+17.5	%	$	551,725		$	419,452			+31.5	%
Less Agency Commissions	$	14,203		$	13,476			+5.4	%	$	49,395		$	40,820			+21.0	%
Net Revenue	$	138,122		$	116,174			+18.9	%	$	502,330		$	378,632			+32.7	%

Gross Revenue Excluding Political Revenue	$	150,788		$	102,303			+47.4	%	$	546,573		$	373,176			+46.5	%

Income from Operations	$	32,078		$	35,380			(9.3	)%	$	103,241		$	99,905			+3.3	%

Broadcast Cash Flow(1)	$	55,311		$	56,294			(1.7	)%	$	193,008		$	170,980			+12.9	%
Broadcast Cash Flow Margin(2)		40.0	%		48.5	%					38.4	%		45.2	%

Adjusted EBITDA(1)	$	49,266		$	48,082			+2.5	%	$	166,669		$	146,344			+13.9	%
Adjusted EBITDA Margin(2)		35.7	%		41.4	%					33.2	%		38.7	%

Free Cash Flow(1)	$	32,706		$	28,652			+14.1	%	$	84,921		$	80,515			+5.5	%

(1)	Definitions and disclosures regarding non-GAAP financial information are included on page 4, while reconciliations are included on page 7.

(2)	Broadcast cash flow margin is broadcast cash flow as a percentage of net revenue. Adjusted EBITDA margin is Adjusted EBITDA as a percentage of net revenue.

-more-

The following information was filed by Nexstar Media Group, Inc. (NXST) on Wednesday, February 26, 2014 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Nexstar Media Group, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Nexstar List Of Subsidiaries

Exhibit 23.1: Pwc Consent

Exhibit 31.1: Perry A Sook Certification 31.1

Exhibit 31.2: Thomas E Carter Certification 31.2

Exhibit 32.1: Perry A Sook Certification 32.1

Exhibit 32.2: Thomas E Carter Certification 32.2

Ticker: NXST
CIK: 1142417
Form Type: 10-K Annual Report
Accession Number: 0001142417-14-000012
Submitted to the SEC: Mon Mar 03 2014 10:15:38 AM EST
Accepted by the SEC: Mon Mar 03 2014
Period: Tuesday, December 31, 2013
Industry: Television Broadcasting Stations

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Nexstar Broadcasting Group Inc (NXST) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

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