good Thanks everyone. morning Perry and
As days legacy acquisition Nexstar actual XX of broadcasting Nexstar's eight Tribune also Media less XXXX on release completed XX the Tribune outlined operation for the ended of XX the divestitures. days of XX. in closed the reflect months results this September the net morning three stations our stations of and it station television Nexstar digital from on The press of results from divestitures results its September XX and Company's their and includes divestitures
as XXXX XX-day quarter revenue from Networkand also the XXXX on ad the included other acquired XXXX in retransmission the is Tribune XX.X% the transaction legacy X-month Nexstar's The statement loss transaction operations full and release Food broadcasting our America equity net. revenue. The from Tribune GAAP. by in included and quarter is ending income or press in in required investments September ownership the third contribution Nexstar's stake comparable digital national WGN fee Third in acquired under TV revenue in investments reflects period income is in XX
acquisition disclosed at the Tribune's approximately in and for onetime connection I'll million. of Nexstar's would points In that I'll kind we divestitures after balance several record with data as review that some our of came which we provide the a transaction expenses $XX station quarter QX structure on an statement start guidance. preface and of which update sheet with income With capital a and
of all a give combined Also of the you on 'XX. feel during assets the which the down for compared we basically the a pro million. on results their change forma for revenue basis performance assets this the I'll items a of $XXX forma in QX X.X% same-station some new part presentation portfolio that have percentage pro revenue was to of and to those in is Net same
national million XX.X% a for same-station was XX% to was Local defined on was was reported up which up a revenue $XX same-station million XX.X% reported basis plus that TV is was for reported $XXX.X revenue was down combined spot local national as basis. on up the X% spot and Total million advertising $XXX X%. us up is over that basis that QX. and revenue same-station on revenue basis flat a
again which high QX political $XX local in was total by decline from that as revenue million includes national approximately to if down total was driven down cyclically of So 'XX. X% and obviously for ad ad a combined Total ad was down was revenue political an during down core million revenue to of -- X% and losing national $XX ad to is meaningfully Political the $XX million number revenue. quarter the XXXX compared local experienced. X% up flat
reported X.X% we've again areas which ex revenue fees million. XX-day in $XX again negotiations up reflects blackout AT&T to Digital and there. Net approximately growth were had Tribune the and up retrans X% the $XX revenues from was were the acquisition. other political net Total because million down
Adjusted of are expenses flow broadcast political Total expenses was lot million numbers in before cash expenses a onetime flow cash $XXX before revenue. EBITDA million. was $XXX free $XXX Again these approximately before million XXXX XXXX. -- was million the of versus onetime $XXX result was the onetime and number
fee $XXX included distribution which $XX offset rise to Total by X% to in and was digital retransmission million. million digital decline a a in revenue revenue approximately revenue partially
Tribune revenue growth distribution in impacted Nexstar disclosed quarter previously was closing the negotiations. by As September AT&T release during retransmission the press
a Nexstar in distribution terms million. reflected synergy On is entered which with XX agreement our AT&T into August one multiyear $XXX favorable year total new of at upsized projections
$X.XXX As well average of cycle guidance as approximately for our billion. free pro forma 'XX/'XX cash the flow
free incurred the in revenue and $XX As million with AT&T XXXX a in onetime reminder expenses third relating reflected purposes this Nexstar's to annual all quarter losses 'XX/'XX cycles and the resulted and approximately forma in for pro to modeling distribution impact guidance. cash an average the of aforementioned is in 'XX/'XX negotiations flow
deeper digital Looking at our revenue.
and and Third local quarter apps our a revenue year-over-year our digital increased services while meaning XX% XX% achieved local websites core stations hyper advertising agency year-over-year. growth mobile digital business
the we cycle and would in anticipated marketplace to term past As continue 'XX customer of several business well stated top demand the buying deemphasizing certain and line in growth as as in platform marginally of lines select early we profitable impacted near through quarters be QX over as the side XXXX. impact changes that we nonprofitable digital
reported we of or not result EBITDA. and our $XX in EPS months of flow our successfully approximately closing recorded in forward digital integration noncash million execute charge the free the income adjusted which are relating of evaluated but expect net flow and future leverage as take operating into portfolio planning benefits on strategy onetime impairment align with Company's more cash broadcast the quarters. digital become advantage a to in our net visible to the continue to have of were assets of the over plans and a assets affect did leading -- businesses the impacted we we As continued digital After income financial and immediate coming value Tribune aware Tribune's action and to going to scale our positioned the well best order cash
Perry Tribune mobile focus operations experienced combined be platforms fast-growing on alluded demand the usage our when the will local agency that the hyper As in our to and less digital in so and digital local of websites Nexstar discussing combined side apps the we've on the and past. -- mass websites
operation increases Third affiliation net excluding approximately network Same operating primarily and of partial trade expenses quarter quarter million to network reflecting increase increased expense the expense. expenses budgeted station operating fixed quarter. down approximately the the incremental XX% in to station Tribune direct relating $XXX station were programming of X% for expenses
compared quarter million Third $XX of $XXX million in low comp have expenses. to prior X% Corporate million corporate SG&A rose the inclusion and inclusive million transaction down relating of expenses Tribune. again partial excluding percentage noncash of $XX to otherwise wise onetime and onetime expenses year. to recurring compensation was stock-based the When expense single-digit been $XX quarter would
quarter Third digital while CapEx taxes while related operating station million. related station cash million $XX and totaled digital operations were $XX -- and
approximately was totaled the of which for quarter by million like $XX quarter. CapEx offset the a repack amount for reimbursements Spectrum
weren't interest from which and with July the funds from collateralizing of for $XX the million XX total of through cash totaled million employing refinancing to the million $XX where just until expense we $XX the the those and transaction bonds up fees $XX of escrowed about interest the million increases well expense and so with to Tribune. to quarter as million $XX business by bond the period relates Tribune more X were closed. really Third was expenses between was $X in associated as million The we the $XX September debt due difference funded interest XXXX compared incurrence million while
$XXX of line provided guidance negotiation. million quarter and based EBITDA $XXX adjusted Third September expectations to the retrans of million free of in were well as flow million pre-transaction with our cash as expenses flow broadcast relating on $XXX cash in the AT&T revised
As 'XX/'XX its free flow cycle the approximately billion. of forma pro $X.XXX a guidance reiterating result Nexstar cash annual is for
$XXX comp overhead XXXX the approximately the for recurring Tribune-related QX expenses. expenses the transaction for to quarter quarter total cash approximately taxes to projected that million $XX estimated are comp million severance $XX and million and year Cash for quarter operating be Noncash million. XXXX. professional of $XX $XX $XX we be approximately to for of million company primarily ahead the fees to for transaction fourth stock cash be of exclusive bringing approximately are the be can't Looking is for year. Fourth million expected to combined million project capitalized the and $XX and
we approximately invest because the anticipated reported tax and in Actual is come associated but will of cash XX cash Tribune profit taxes enhance approximately divestitures us in in on them quarter. operating September million. news CapEx cash taxes and addition that will the quarter will infrastructure be at $XX bring with the the operating be portion million should for Fourth that's transaction-related a happened And station into there the from on their $XX higher station profits $XX in million environment. to the stations to and CapEx Nexstar for owe
to XXXX both Total and for looking million XXXX $XXX includes million transition CapEx forward $XXX CapEx years. million and approximately will be approximately will $XXX both for million be CapEx year the total the $XXX the the
expect quarter to Nexstar's we $XXX for million the approximate interest expense Finally quarter. cash fourth
an the key XXXX completion leverage XX sheet. X.XX%. of XXXX updated the and September the for September to balance for as of provide the forma Turning Total was I'll net pro items review XX transaction.
term $XXX was A covenant billion to obviously net of $XXX Total billion term debt million X.X% sorry XX closing where debt a was new sorry of billion sheet. and B $X.X of XXXX the -- compared X.XXx again covenant $X.X transaction cash the the Total a end -- a June with $X.X debt we approximately XXXX the I'm loan $X.X First $X.X versus loan X/XX million the of as outstanding gross billion lien balance of new was obviously billion. I'm added notes. reflecting on X.XXx. billion was at $X.X of Net
of and rolled loan million existing $XXX loan over as senior significant by to a quarter -- allocating portion during the third million total debt payments. B. of million cash of million also allocating issues notes $XX of million $XXX $XXX of quarter million reduced reduction. four Term the as remain $XX all flow to A committed revolver free toward term existing and approximately -- $XXX We dividend The well our funded leverage two And while XXXX
revenue of high in intends below levels by to XXXX total of ratio to Nexstar XX/XX to total anticipated political and XXXX. distribution spending reduce reduce leverage Xx its growing With leverage
Our of weighted capital structure of an weighs capital floating cost refinancing balance proper and average fixed prepayment the and and debt attractive flexibility.
In at addition toward we will will have a debt significant we will that made XXXX significant well-staggered reduction. maturity maturities profile expect have with until a we substantial point no which headway
and Going value. for into ability strategy Nexstar demonstrated initial the our growth and enhancement source levels below to closing shareholder we has and use leverage reduced our rates leverage capital attractive at consistently to support the have prudent of to expectations of its
and focus significant to the operating time-proven free This shareholder and increased and disciplined entity focus with us of and the structure combined and extend returns growth strong combined record integration immediate cash from to will our shareholders. on strategies substantial Given flow our our the enable our long-term operations value creation. of management for and be reduction capital capital will reduction poised leverage leverage
synergy in Nexstar will cycle are operating entering realization plans as value a shareholder as on stated is of and the Perry which our rapidly well significant entered cash meaningful drive into free flow cash deleveraging flow creation results. free as opportunities. The generating and summary call -- In integration our significant
and to great in local both stronger. quickly address national capital of leverage to never is our structure and ability and the from cost communities shape been capital local and has service advertisers Our
growth our Our disciplines areas as growth visibility -- well and provided to consistency these in significant results. have as significant have
on the I'm remain XX% flow we Nexstar's in to in approximately growth and cash XX% which in transaction growth in in free cash combined deliver the stand-alone XX% billion. an our Tribune cash to flow of free such approximately sorry resulted XX% confident stand-alone $X.XXX ability value As free flow --
of We February report look XXXX our and quarter of the guidance financial for cash an our update time on XXXX we That the that XXXX initiating realization fourth to synergy the provide flow in on when free progress. XXXX call. review forward concludes
for it remarks Q&A. back some to before turn I'll closing over Perry