Use our mobile site at: m.ITbriefing.net    Follow ITbriefing.net: Follow ITbriefing on Twitter   Follow ITbriefing via Facebook   Follow ITbriefing via RSS 
Nexstar Media Group to Acquire Leading Digital Video Advertising Infrastructure Platform, LKQD Technologies, for $90 Million in Accretive Transaction


 Tags:   News: Cameras & Photography                This was published: 7 Dec 2017 - 12:26 pm         Print article: Printer friendly page
          

Nexstar Media Group to Acquire Leading Digital Video Advertising Infrastructure Platform, LKQD Technologies, for $90 Million in Accretive Transaction - on DefenceBriefing.net

Nexstar Media Group, Inc. (NASDAQ-NMS: NXST) (“Nexstar” or the “Company”) announced today that it entered into a definitive agreement to acquire LKQD Technologies (“LKQD”), a leading independent video advertising infrastructure company, for approximately $90 million cash, subject to working capital and other adjustments including a minimum cash balance of $10 million, and a contingent earn out payment based on LKQD’s performance at the end of two years under Nexstar’s ownership. The transaction is expected to be immediately accretive to Nexstar’s operating results and free cash flow, does not materially alter the Company’s leverage position and will be financed with cash generated from operations and funds provided by the Company’s revolving credit facility.



Founded in 2014 by industry veterans, LKQD Technologies’ video advertising platform has the largest reach in the US to viewers across digital devices, (comScore Video Metrix®, Video Ad Ecosystem rankings, August, 2017). The acquisition of LKQD substantially broadens and diversifies Nexstar Digital’s portfolio with industry-leading, brand safe systems and technologies that are complementary to its current offerings of leading digital solutions and services for media publishers, and compelling and effective multi-platform marketing solutions for local and national advertisers.

LKQD provides enterprise digital video advertising technology infrastructure for publishers and advertisers on all screens reaching approximately 115 million US online video viewers across desktop, mobile-web, mobile-app and connected TVs. Designed for flexibility, scalability and speed, LKQD’s Infrastructure as a Service (IaaS) technology provides end-to-end systems for ad serving, mediation, programmatic auctions and advanced reporting— allowing publishers to book, manage, optimize and track their operations in real-time from one dashboard.

LKQD’s large-scale, diversified video supply combined with Nexstar's robust audience reach across 170 stations and 100 U.S. markets and significant hyper-local digital/ mobile platforms, will create new video opportunities which will allow Nexstar's advertising clients to target their customers across both the television and digital video landscapes. Over the past twelve months LKQD expanded its technology to meet increasing demand for its products and solutions among digital publishers, media partners and advertisers. As a result, in the first half of 2017, LKQD tripled the number of customers using its platform and generated year-over-year gross revenue growth of 180%, outpacing overall video advertising industry revenue growth by approximately 8x.

Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar added, “Our acquisition of LKQD is consistent with our long-term strategic and financial growth objectives for Nexstar Digital as we unify, expand and invest in our technology platform to optimize results for our clients, while developing new revenue opportunities. By adhering to our disciplined acquisition and integration criteria, we are acquiring the leading, fast-growing, profitable, online video advertising business at an attractive, accretive valuation. Looking ahead, we continue to evaluate additional digital investments and select accretive transactions to drive the next phase of growth and success for Nexstar Digital.”

Gregory R. Raifman, President of Nexstar Digital, commented, “The acquisition of LKQD significantly strengthens and expands Nexstar Digital’s product offerings with flexible and scalable end-to-end technology infrastructure systems that enable cross-device ad delivery with multi-dimensional analytics and reporting— giving buyers and sellers the power to efficiently reach audiences across all screens and devices. LKQD’s rapidly growing revenue, expanded client base and market-leading enterprise video ad technology infrastructure are key differentiators and represent an excellent strategic fit with Nexstar Digital’s leading local digital marketing tools, content monetization solutions and digital agency services.

“Importantly, in an environment where brands and ad buyers are rightfully concerned with online ad safety, LKQD’s inventory is among the highest quality in the ecosystem. This focus results in industry-leading metrics with respect to mitigating fraudulent traffic and ensuring brand safety. LKQD brings to Nexstar Digital a leading, fast-growing, profitable, online video advertising business that will enable us to further improve our competitiveness with other media and deliver more brand safe solutions to advertisers and brands.”

Senior members of the LKQD management team, including CEO and Co-Founder Brian DeFrancesco and CTO and Co-Founder Christophe Clapp, have entered into employment agreements with Nexstar and LKQD will continue to operate its growing business as a division of Nexstar Digital.

Brian DeFrancesco, CEO of LKQD stated, “This is a win-win for clients on both sides, as Nexstar’s suite of local and national digital marketing products, content monetization solutions and digital services combined with LKQD’s end-to-end digital video advertising infrastructure technology, will allow small and mid-sized media publishers and businesses to maximize revenues across every available channel. Nexstar Digital has a strong position in the rapidly growing digital media and advertising technology market and we are excited to join their team as Nexstar’s resources and expertise will help power LKQD’s next phase of growth as we continue to expand our brand, technology capabilities and market presence."

The transaction is expected to close late in 2017 or the first quarter of 2018 and is subject to Hart-Scott-Rodino (HSR) approval and other customary closing conditions.

Article source - Business Wire, all right reserved. Copyright 2017
Trademarks, logos, pictures and other items may be copyright of firms mentioned in this article.




Further information:
Organisation name:    Nexstar Media Group, Inc.
Organisation stock symbol: NASDAQ:NXST


Latest stock price data for NASDAQ:NXST

 


Other related articles, tagged News: Cameras & Photography

· Partner Communications Announces That It Expects to Connect This Week the 40,000th Subscriber to Partner TV Service   (12/17/17)
· Amazon Extends Free Shipping Deadline to Saturday, December 16   (12/16/17)
· Alaska Communications Comments on Schedule 13D Filing by Karen Singer Group   (12/16/17)
· SkyPan Calls for Recreational Drone Operators to Register with FAA   (12/15/17)
· Applied DNA Announces Selected Preliminary Unaudited Fiscal Fourth Quarter and Year End Results   (12/15/17)
· Vivitar Has Announced a Voluntary Corrective Action Program for Its Wifi Bulb Due to Misapplication of Required Safety Labels   (12/15/17)
· CORRECTING and REPLACING 2017 Top Sales Development Leaders Announced at World’s Largest Sales Development Summit   (12/15/17)
· AT&T Increases Quarterly Dividend 2 Percent   (12/15/17)
· REAN Cloud Named Tech Company of the Year by Northern Virginia Technology Council   (12/15/17)
· Comcast to Host Fourth Quarter and Full Year 2017 Earnings Conference Call   (12/15/17)

>>>More articles  >>>

Latest tech videos:



· Partner Communications Announces That It Expects to Connect This Week the 40,000th Subscriber to Partner TV Service (2017-12-17 08:46)
Partner Communications Announces That It Expects to Connect This Week the 40,000th Subscriber to Partner TV Service - on DefenceBriefing.net

Partner Communications Company Ltd. ("Partner" or the "Company") (NASDAQ and TASE: PTNR), a leading Israeli communications operator, announced today that the Company’s TV service, Partner TV, is expected to reach 40,000 subscribed households this week, an increase of approximately 10,000 connected subscribers, since the Company's previous report dated November 21, 2017 with respect to the amount of Partner TV subscribers.


· Amazon Extends Free Shipping Deadline to Saturday, December 16 (2017-12-16 03:26)
Amazon Extends Free Shipping Deadline to Saturday, December 16 - on DefenceBriefing.net

(NASDAQ-NMS: AMZN) — Amazon today extended the deadline for free shipping to December 16—all Amazon customers can choose from millions of items that are eligible for free shipping and will receive their orders before Christmas. This includes eligible orders of $25 or more shipped by Amazon, as well as free shipping offers from the millions of small business and entrepreneurs selling on Amazon.


· Alaska Communications Comments on Schedule 13D Filing by Karen Singer Group (2017-12-16 00:06)
Alaska Communications Comments on Schedule 13D Filing by Karen Singer Group - on DefenceBriefing.net

Alaska Communications (NASDAQ-NMS: ALSK) today issued the following statement in response to the Schedule 13D filed by Karen Singer and TAR Holdings LLC, a limited liability company for which Ms. Singer is the sole member:


· SkyPan Calls for Recreational Drone Operators to Register with FAA (2017-12-15 23:46)

SkyPan, a company that offers innovative aerial robotic systems that serve the needs of the architecture and real estate industries, is calling on all model aircraft operators of unmanned aircraft to register online with the FAA. In May, a U.S. Court of Appeals ruled the FAA is prohibited by law from requiring model aircraft operators to register their drones. Congress recently overturned that decision, enacting a provision in the National Defense Reauthorization Act that restores the FAA online registration rule adopted in December 2015 as of the effective date of the Act. Accordingly, model aircraft operators who have not registered with the FAA must do so promptly.


· Applied DNA Announces Selected Preliminary Unaudited Fiscal Fourth Quarter and Year End Results (2017-12-15 22:46)
Applied DNA Announces Selected Preliminary Unaudited Fiscal Fourth Quarter and Year End Results - on DefenceBriefing.net

Applied DNA Sciences, Inc. (NASDAQ-NMS: APDN; “Applied DNA”) today announced selected preliminary unaudited financial results for the full fiscal year and quarter ended September 30, 2017.


· Vivitar Has Announced a Voluntary Corrective Action Program for Its Wifi Bulb Due to Misapplication of Required Safety Labels (2017-12-15 21:06)

The Electrical Safety Authority is notifying the public that Vivitar has announced a voluntary corrective action program for the following consumer product.


· CORRECTING and REPLACING 2017 Top Sales Development Leaders Announced at World"s Largest Sales Development Summit (2017-12-15 20:26)
CORRECTING and REPLACING 2017 Top Sales Development Leaders Announced at World’s Largest Sales Development Summit - on DefenceBriefing.net

Last entry in the bulleted section should read: Jill Konrath - Owner at Jill Konrath (sted Jill Konrath - Direct of Sales at JBarrows Training).


· AT&T Increases Quarterly Dividend 2 Percent (2017-12-15 19:06)
AT&T Increases Quarterly Dividend 2 Percent - on DefenceBriefing.net

The board of directors of AT&T Inc.* (NYSE: T) has approved a 2.0% increase in the company’s quarterly dividend.


· REAN Cloud Named Tech Company of the Year by Northern Virginia Technology Council (2017-12-15 18:06)
REAN Cloud Named Tech Company of the Year by Northern Virginia Technology Council - on DefenceBriefing.net

REAN Cloud, an AWS Premier Partner and global Cloud Systems Integrator, has been named Tech Company of the Year under $50 million in revenue by the Northern Virginia Technology Council (NVTC).


· Comcast to Host Fourth Quarter and Full Year 2017 Earnings Conference Call (2017-12-15 17:26)
Comcast to Host Fourth Quarter and Full Year 2017 Earnings Conference Call - on DefenceBriefing.net

Comcast Corporation will host a conference call with the financial community to discuss financial results for the fourth quarter and full year 2017 on Wednesday, January 24, 2018 at 8:30 a.m. Eastern Time (ET). Comcast will issue a press release reporting its results earlier that morning.


· L.A. Noire: The VR Case Files Now Available for HTC Vive (2017-12-15 17:26)
L.A. Noire: The VR Case Files Now Available for HTC Vive - on DefenceBriefing.net

Rockstar Games®, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ-NMS: TTWO), is proud to announce that L.A. Noire: The VR Case Files is now available for HTC Vive. Featuring seven self-contained cases from L.A. Noire rebuilt specifically for virtual reality, L.A. Noire: The VR Case Files blends breathtaking action with true detective work to deliver an unprecedented interactive experience.


· Global Fixed Line Communications Equipment Market - Growth Analysis and Forecast by Technavio (2017-12-15 16:46)
Global Fixed Line Communications Equipment Market - Growth Analysis and Forecast by Technavio - on DefenceBriefing.net

According to the latest market study released by Technavio, the global fixed line communications equipment market is expected to grow at a CAGR of more than 4% during the forecast period.


· 2017 Top Sales Development Leaders Announced at World"s Largest Sales Development Summit (2017-12-15 16:26)
2017 Top Sales Development Leaders Announced at World’s Largest Sales Development Summit - on DefenceBriefing.net

At this week's Sales Development Summit, a two-day virtual event sponsored by sales acceleration SaaS software leader InsideSales.com and sales industry thought leader Sales Hacker, the sales development community named its top 10 leaders who are forging new paths and changing the face of sales development as we know it. The first annual Sales Development Leader awards were given to:


· CMMI® Institute and The US Department of Health and Human Services Launch Framework to Address Patient Data (2017-12-15 16:06)
CMMI® Institute and The US Department of Health and Human Services Launch Framework to Address Patient Data - on DefenceBriefing.net

CMMI® Institute has announced public availability of the Patient Demographic Data Quality (PDDQ) framework, developed in partnership with the US Department of Health and Human Services’ Office of the National Controller (ONC) for Health IT. The framework was created to improve patient safety by helping organizations accurately and consistently match patient data internally as well as between organizations.




© Website copyright Incandore Limited 2012. All rights reserved. All content copyrights / trademarks remain the property of their respective owners.