Nexstar Media Group, Inc. (NASDAQ:NXST) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 10:00 am ET


Nexstar Media Group, Inc. (NASDAQ:NXST) Q3 2019 Earnings Conference Call - Final Transcript


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Good day and welcome to Nexstar Media Group 2019 Third Quarter Earnings Call.[Operator Instructions]

I would now like to turn the conference over to Joe Jaffoni Investor Relations. Please go ahead sir.

Joseph N. Jaffoni

Thanks Emma and good morning everyone. I just need to read the safe harbor disclosure after which we will get to the meat of the call. All statements and comments made by management during this conference call other than statements of historical fact may be deemed forward-looking statements. Nexstar has based these forward-looking statements on its current expectations and projections about future events. Forward-looking statements include information preceded by followed by or that include the words guidance believes expects anticipates could or similar expressions. For these statements Nexstar claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

The forward-looking statements contained in today's call concerning among other things the benefits of the Tribune Media acquisition Nexstar's future financial performance including changes in net revenue cash flow and operating expenses involve risks and uncertainties and are subject to change based on various important factors including the impact of changes in national and regional economies; Nexstar's ability to service and refinance outstanding debt; Nexstar's ability to successfully integrate Tribune Media including its ability to realize acquisition synergies and cost reductions; pricing fluctuations in local and national advertising; future regulatory actions and conditions in Nexstar's television stations' operating areas; competition from others in the broadcast television markets served by Nexstar; volatility in programming costs; the effects of governmental regulations on broadcasting industry consolidation technological developments and major world news events. Nexstar undertakes no obligation to update or revise any forward-looking statements whether as a result of new information future events or otherwise. In light of these risks uncertainties and assumptions Nexstar's actual results and financial condition may differ materially from that reflected by forward-looking statements made during today's call.

You should not place undue reliance on these forward-looking statements which speak only as of the date of -- date made and listeners are cautioned that changes in general economic business regulatory or other conditions or in the financial results of operation of Nexstar may have occurred since such date. For more details on factors that could affect these expectations please see Nexstar's annual report for the year ended December 31 2018 Tribune Media's annual report for the year ended December 31 2018 and each of Nexstar and Tribune Media's subsequent public filings with the Securities and Exchange Commission.

I thank you for your patience with that. And now it's my pleasure to turn the call over to your host Nexstar Chairman President and CEO Perry Sook. Perry please go ahead.

Perry A. Sook

Thank you Joe and good morning everyone. Thank you all for joining us today to review Nexstar's 2019 third quarter results and our operating and strategic initiatives as we embark on a new and significant free cash flow growth cycle which will fuel our substantial leverage reduction and support our goals