bodes Thank XXXX. already fourth and record-setting very said a year morning, for 'XX, pleased quarter we Obviously well everyone. for and full we're Kevin, political very and us, year was that 'XX you, Hilton think good with.
we in Turning that would and our going on out 'XX has focus historical combined guidance, was XXXX, earlier to point I divestitures. combined we United transaction. any by quarter And a exhibit, our should the It begin for guidance morning, historical this put pre-closing historical that published for historical that synergies under so of first operating everybody QX certain record there a that combined in does adding combination of with the does help modeling. subtracting include nearly not stations also QX. little expenses filed certain is an select expected for that operating my tomorrow two the everybody the X-K information where remind been will include our and comments Also out that is select not will 'XX LMA. acquisition to I'm their the quarter, I revenues and
operations. quarter rather or not stations their very So these in the delighted stations, acquiring we're local to great to of powerful markets, full to any them, material be are
local And moment core we million in which of revenue national Olympics advertising. we is have range, $X.X the and to but total again. the of $XX.X going in national Winter that and Pat ago, in Our a mid-single expected local $XX.X auto-related digit as year, million be mentioned we're had last million, down
So, significant event little a us QX. ability it our XXXX our clearly is for 'XX affect does a bit in which for
However, if QX'XX. the to you local core we expect flat would national be in approximately exclude Olympics, our and
very generally are escalator growth in MVPD and before that the is NBC retrans a legacy of Gray's legacy low We commented annual Raycom range. low very the just a pleased the revenue percentage. Gray, as we Kevin double-digit with that anticipated Remember renegotiate, few said, Gray XX% subs to a and contract,
is XX% obviously our gross reflecting for the retransmission synergies very retrans pleased QX that legacy that require XX% and that Raycom are Gray overall the revenue, be growth in that So revenue, to will we stations. up
reaffirming announced $XX versus are of million synergy our retrans prior net least previously year. at We
significant expenses in QX broadcast Our have components. two
million million broadcast expenses there of severance compensation-related firm about the $XX.X or is in line. First, national $XX the expense expense and to with Raycom non-recurring transaction, associated other million web million of terminate the in $XX $X.X expense to including
Retrans mentioned, NBC grow agreements million is $XX X. effective under $XX Kevin agreement, million. as repriced our the new Second, to expected January quarter-over-quarter to
that then of $XX you a M&A be other 'XX fees, would fees, transaction-related transaction be expense combined essentially QX corporate in again related to operating items, million, and QX'XX legal impacted If our expenses basis. would Similarly, advisory both flat are and broadcast is of million our which historical compensation, exclude accounting expenses those by $XX severance to non-recurring. on in
'XX pro our for basis. historical would If expense a those to leverage non-recurring you exclude charges, on corporate forma to updates flat combined again on I be give will like approximately 'XX. some
perspective, part $XX do half approximately be in cash trailing we estimate of $XXX impact 'XX had range preparation ended do these comments the a combined On XX/XX/XX $XXX statements 'XX, we not being of We year on Raycom for of our that completed obviously post-closing have forecast $X.XX for and the on deal, XX/XX/XX. debt, yet month in in update it results to approximately as and second for based announced as million, would to last a flow the a it operating very credit basis, flow of of when put we billion my would the investor very, strong cash we our about synergies million. website, cash as Those I'll of reflect defined estimate in $XXX historical basis, in have hand $XXX year, on trailing to million. a the To our on synergies range in our $XXX November than was eight when our have internal That moment. operating of presentation Therefore, flow in announced about saw is year have -- synergies ordnance table. audit you XX of the million. would On would our cash include if million. $XXX facility, flow as That's a cash basis growth, XX/XX/XX, We senior quarter carve-out with the deal that the million following $XXX and you been the a estimate announced political was are and operating a been. been the and preliminary million higher reflecting 'XX on outstanding of in said, look million not was or we
and would X.XX Our we somewhere at times estimating XX/XX, leverage X.XX times. ratio between been currently have are
times deck again we in approximately November, When number. our of XX back the our million, closer We about synergy last be reflect was be about a million times. recall, be when have in estimate we and lower said And at cash $XXX times. X.XX XXXX $XXX $XXX Again the Q. times on estimated X X.XX the we closed to ratio cash to our toward said cash If million. we it's deal, and go leverage $XXX we be of if investor clearly five at was end the announced deal with January, XXXX net announcement the would free expectation we you free would that million. between And will for website, the to range would you currently free December range,
So we're very, at are XXXX. very pleased we outset with where the of
XXX the basis. and common Our a on combined stock outstanding approximately shares GTN both for the outstanding is million GTNA
payroll update of you eight been in. represents $XX million synergies. $XX weeks That our that's are benefits. have we at million essentially the of a changes had cash combined We eliminated outset million and benefit that a $XX me we across said given Now Today, either have an million or $XX XXX $X expected plan, benefit let will scheduled, post-closing, we additional of at synergies. We eliminate to on Also approximately locked we positions from the already changes. plan company. will entire million savings
savings Gray. the arrangements, rep $XX of the and agreement price on favorable it contractual reflect national run Comscore reflect we and of savings former in $XX million very commission that will of the to renegotiating have Nielsen and terms the would For million rate annual
Our we'll uplift net retrans, of million. we're a least at very $XX net have retrans that comfortable
a net proceeds Raycom In aircraft closed million. sold $X.X legacy unit been addition, the approximately been billion the year, planes down have of has approximately saving and $X with
be and synergies year, off would you our can we year. XX% go that, other be at we start every we uncover. opportunity think, good know, through be for we opportunities There expenses, very of $XX taking ratably about million, about will the goal. not I will through are the bashful that progress to all of as us a first as say those will all, savings with So those realized I We,
turn point, call this to back at I'll So Hilton. the
