Nexstar's FCF and Capital Allocation
Q
"Local Moat" Protects and Drives Revenues
•
•
~70% of Nexstar's core television advertising and the substantial majority of
political television advertising revenue is from resilient local sources.
Local Assets
Nexstar
MEDIA GROUP, INC.
Engaging
Live, Local
News and
Sports
Content
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200 local broadcast
stations each with a unique
local brand
120 local websites
Premium live sports, news
and other entertaining and
engaging content
#1 or #2 local news
television viewership in 76%
of our markets
Dedicated 1,500-person
local sales force with long-
term, established
relationships with over
40,000+ local businesses
and advertisers
200 Local
Broadcast
Stations and
120 Local
Websites
Live, Local
Audiences
at Scale
1,500+
Person Local
Salesforce
with 40,000+
Accounts
•
•
Why is this important?
Local advertising (generally
more "call-to-action") is
typically more resilient in a
challenging economic
environment than national
advertising (generally more
"brand" focused)
Substantial majority of
$4BN+ political television
advertising market is spent
locally
Ability to deliver local
audiences at scale with
engaging live news and
sports content
You can't sell local without
a local sales force
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