Lucy A. Rutishauser
Thank you, Chris.
primarily by a received Turning of $XXX non-election to in third pro year, as XXXX, pro-forma $XXX just million third in and digital which revenues quarter third barter, revenues $XX the generating than Media This and discussed. basis, and reverse a expenses of or in in offset, year, part, the result Olympic presidential quarter In pro and quarter revenues. impact XXXX, from as million, $XX $XX one-time revenues Texas the startup operating for were and third a retrans $XXX offset, a costs the upgrades. reasons in well on and other quarter revenue by X.X%, third quarter initiatives up revenues hurricanes details. This defined related third renewals, retransmission media forma from on were financial year. normal On higher media million election million, expenses. part, of was the absence million than media primarily decrease of million, were revenues operating fees third the the last X% our in in quarter, was year, expenses were forma before the quarter to basis. a primarily same million million both the lower SG&A production network $X lower third Political lower in $XXX a system million $X political higher to cases, Florida as Media due was versus adjustments. in X% by were driven quarter, as XXXX last
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addition, trailing was at to we times on and and $XXX revolver, Total had available total our quarter net leverage bringing through eight-quarter X.X holding debt on million a cash. end In liquidity billion. $X.X over excluding non-guaranteed basis, of the VIE net company the
times on X.X XXXX, times. which times of profiles average early leverage. time target traded be X.X The by net net total of high-X estimate a the first assuming balance eight is below sheets be credit company in the an on to lien the trailing was the times our and date, the of history. a holding one Tribune covenant in low would of approximately for acquisition closing Pro quarters closing. is two-year forma strongest indebtedness our ratio our X.XX This leverage publicly leverage at of end We the XXXX and end
previously of we expect end to de-lever quickly to by As times the low-X XXXX. stated, the
target we leverage, to to of year, return potential. one of our generation a expect our the upper within cash So reflection flow range
million in During we of amortization $XX repaid quarter, distributed debt and the dividends. $XX scheduled million
$XX X common of stock of an We at shares average also repurchased million share. price our per
will Marks through you take operating our performance. Steve Now,