IRVING, Texas, February 02, 2015 – Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) (“Nexstar” or the ”Company”) announced today that it has acquired 100% of the stock of Yashi, Inc. (“Yashi”), a leading online video demand side platform with location-focused technology for $33.0 million in a transaction that is expected to be accretive to 2015 results. Nexstar financed the acquisition with cash generated from operations and funding provided by recent capital markets activities. The purchase price is less than 6.0 times the average 2014/2015 pro-forma Adjusted EBITDA.
A pioneer of innovative location-based targeting and programmatic digital technology and services for the online video advertising industry, Yashi’s proprietary platform delivers a one-stop digital advertising solution that integrates geographic, demographic, and other data-driven targeting tools with real-time-bidding, allowing advertisers to plan, buy, measure, and optimize their ad campaigns in real time. Yashi’s rapid financial growth has been nationally recognized as it has been included in Inc. 5000’s List of Fastest Growing Private Companies for the last three consecutive years. Among other accolades, Yashi was also named to Deloitte’s 2014 Technology Fast 500 List of Fastest Growing Companies in North America.
The acquisition of Yashi substantially broadens and diversifies Nexstar’s digital media portfolio with businesses that are complementary to the Company’s focus on providing compelling and effective multi-platform marketing solutions for local and national advertisers. In addition, the Yashi offering combined with Nexstar’s geo-fencing patent and a robust local sales team of 600+ local account executives and sales managers provides valuable synergies for the benefit of Nexstar customers. Yashi will continue to operate its growing business as a division of Nexstar’s digital media portfolio.
Tom O’Brien, Executive Vice President/Digital Media and Chief Revenue Officer of Nexstar, commented, “The Yashi acquisition strengthens and expands Nexstar’s digital video advertising offerings with highly-targeted optimization tools and programmatic capabilities. Their growing client roster, diversifying revenue base and local targeting expertise in digital video are key differentiators and represent an excellent strategic fit with Nexstar’s growing digital media portfolio. Combining Yashi’s targeting and programmatic digital technology with our existing digital offerings enables Nexstar to continue to expand the innovative multi-platform marketing solutions we can offer to local and national advertisers, agencies and digital publishers across the country.”
Jay Gould, CEO of Yashi stated, “Perry Sook and his team at Nexstar have built one of the country’s strongest local media businesses through organic growth and strategic acquisitions. The combination of Nexstar’s digital video advertising business and the Yashi platform is a win-win forclients on both sides, as Nexstar’s growing scale and broad array of digital media assets will help Yashi fulfill its vision to bring online video advertising to local businesses throughout the United States. We are excited about working with the digital media teams at Nexstar as we continue to cement our place as leaders in location-focused online video advertising for national and local brands utilizing our real-time programmatic technology.”
Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar added, “Consistent with our long-term strategic objective to identify and execute accretive transactions that build our revenue and operating base, Nexstar will continue to focus on strategic digital investments that further expand the Company’s digital media offerings to include emerging, high quality digital platforms and technologies while maximizing our multi-screen revenue opportunities. By adhering to our disciplined acquisition and integration criteria, we acquired a profitable, fast-growing online video advertising business at an attractive pro-forma EBITDA multiple.”
About Nexstar Broadcasting Group, Inc.
Nexstar Broadcasting Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 105 television stations and 34 related digital multicast signals reaching 56 markets or approximately 15.6% of all U.S. television households. Nexstar’s portfolio includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV, The CW, Telemundo, Bounce TV, Me-TV, and LATV. Nexstar’s 56 community portal websites offer additional hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content while creating new revenue opportunities.
Pro-forma for the completion of all announced transactions Nexstar will own, operate, program or provides sales and other services to 110 television stations and related digital multicast signals reaching 58 markets or approximately 18.0% of all U.S. television households.
Yashi is an award winning location focused video advertising platform. The company’s platform analyzes tens of billions of video ads in real time on a monthly basis across thousands of websites. To learn more about Yashi and the company’s leadership role in programmatic video advertising, please visit www.yashi.com.