Technology Venture Capital Investor, Former Rubicon Project President / Board Member, and Past Executive Chairman of LiveRail and Chairman / CEO of Mediaplex to Lead Continued Growth of Nexstar Digital LLC
IRVING, Texas and LOS ANGELES, California – Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar” or “the Company”) announced today that Gregory Raifman has been appointed to the newly created position of President of Nexstar Digital LLC. Mr. Raifman will assume his new role effective April 1, 2017 and he will report directly to Perry Sook, Chairman, President and CEO of Nexstar Media Group.
The appointment follows the announced merger of Nexstar’s leading local digital advertising and content monetization products into one wholly-owned subsidiary company, Nexstar Digital, LLC. Nexstar Digital offers media companies and advertisers a comprehensive suite of leading digital solutions and services focused on optimizing audience targeting, user engagement and the overall performance of online, mobile and multimedia content and marketing campaigns. Nexstar Digital’s enterprise-class publishing platforms, mobile video monetization technology and professional digital agency services deliver powerful digital advertising and content monetization solutions to clients across the United States.
Nexstar Digital currently employs more than 400 technology and sales professionals with operating locations in Los Angeles, CA, Minneapolis, MN, New York, NY and Austin, TX.
In his new role as President of Nexstar Digital, Mr. Raifman will be responsible for managing the day to day operations of Nexstar Digital, LLC., including the development and implementation of the Company’s digital business strategy, leading the integration of existing and recently acquired digital products under the Nexstar Digital brand, and alignment of complementary technologies and capabilities to maximize performance and accelerate revenue and earnings growth. Mr. Raifman will work with Nexstar Media Group’s executive management team to build out Nexstar’s Digital business by identifying investment opportunities to enhance existing technology infrastructure, to capitalize on emerging market trends and to execute accretive transactions of new digital products that complement its core competencies and have high growth potential. In addition, he will oversee Nexstar Digital’s engineers, product developers and service / sales professionals, and will recruit and manage a team of brand, technology, finance, legal and human resources experts who will work in conjunction with Nexstar Broadcasting Inc. personnel to optimize local digital and mobile offerings across the Company’s local media markets.
Commenting on the appointment, Perry Sook, stated, “Greg’s wide range of expertise in the digital advertising and technology start-up sectors makes him ideally suited to lead Nexstar Digital and to build on the growth momentum of our expanding portfolio of innovative local digital marketing products, content monetization solutions and digital agency services. He brings outstanding leadership and entrepreneurial skills to Nexstar and a record of success in efficiently scaling advertising technology and services companies to a position of market leadership while accelerating revenue growth. I look forward to working directly with him as we execute our cohesive strategy to drive the next phase of growth for Nexstar Digital.”
Greg Raifman added, “Nexstar’s impressive growth, combined with its strong commitment to innovation and the advancement of its existing and future digital technology capabilities, were strong factors in attracting me to this position. With a portfolio of leading local digital marketing products, content monetization solutions and digital agency services, Nexstar Digital is without a peer in the space with strong prospects for continued growth.
“In this role, I will leverage my technology and management experience to identify commonality across our existing and acquired technologies, while integrating our digital products under the Nexstar Digital brand and evaluating new potential complementary capabilities to maximize results for our clients and customers and revenue opportunities for the Company’s shareholders. My team will also be proactive in supporting the goals and objectives of Nexstar’s broadcast operations with digital technology solutions that engage audiences and drive results. I look forward to working with Perry, Tom Carter, Tom O’Brien, Tim Busch and the rest of the Nexstar team to develop strategies for growth and expansion while ensuring the company remains on the forefront of technological innovation for the benefit of our business, advertiser and media publishing clients.”
Prior to assuming his new role at Nexstar, Mr. Raifman most recently served as President and Board Member for The Rubicon Project, Inc. (NYSE: RUBI) where he was responsible for overseeing the day-to-day operations of the global advertising leader, including revenue and business development, product, engineering, finance, legal, marketing, communications and strategy. Under Mr. Raifman’s leadership, Rubicon Project grew to more than 700 employees throughout eighteen offices around the world, completed its initial public offering in 2014 and nearly quintupled its revenues from January 2013 to December 2016, ultimately surpassing one billion dollars in annual spend in 2015 and 2016 while engineering one of the world’s largest mobile and video advertising marketplaces supporting tens of thousands of leading advertisers globally. In advance of assuming his new role with Nexstar, Mr. Raifman resigned as a Section 16 officer of Rubicon Project in March of 2017 but remains a member of the company’s Board of Directors.
From 1998 to 2001, Mr. Raifman served as the Founder, Chairman and CEO of Mediaplex, a global advertising technology company he eventually took public that reached a post IPO valuation which exceeded $4 billion. In 2001, Mediaplex merged with ValueClick and Mr. Raifman remained on the board until mid 2002. After acquiring other industry related companies, the combined company known as Conversant, Inc. was ultimately sold to Alliance Data Systems in 2014 for $2.3 billion.
Through his investment vehicles The Gekko Group, LLC & Gekko Holdings, LLC, Mr. Raifman has also been a very active seed investor, board member and board advisor to numerous early stage technology companies. He served as Executive Chairman of LiveRail, Inc. and worked with the founders to pivot LiveRail’s strategy to become a video ad exchange and real-time bidding company, which was sold to FaceBook in 2015 at a significant premium for investors. From 1992 to 1999, Mr. Raifman served as Founder and Managing Member of PointBreak Ventures, LLC, a venture capital firm focused on cross border software licensing arrangements, where he led successful investments in early internet pioneers that generated a considerable ROI for the fund. In 2006, Mr. Raifman founded Dragon Media Online, Inc., serves as its Chairman and CEO and has grown the business into one of the leading performance based online media companies for career advancement websites, including the site “Careers.org” which it owns and operates.
Mr. Raifman obtained his AB in Economics and History with Double Honors from University of Michigan in 1981. He completed his JD in Law from Georgetown University Law Center in 1984 where he was Executive Editor of the International Law Review and published an article on Insider Trading and Swiss Banking Secrecy. He serves as a Member of the Board of Directors for the Mobile Marketing Association, Trustworthy Accountability Group and UnitedHealthcare Children’s Foundation. He is also a Foundation Board Member for the Advertising Women of New York, a Board of Visitors Member for Georgetown University Law Center and a Member of CEO’s Against Cancer.
About Nexstar Media Group, Inc.
Nexstar Media 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 170 television stations and related digital multicast signals reaching 100 markets or approximately 39% of all U.S. television households. Nexstar’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. Nexstar’s 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. For more information please visit www.nexstar.tv.
About Nexstar Digital LLC
Nexstar Digital LLC, a wholly-owned subsidiary of Nexstar Media Group, Inc. (Nasdaq: NXST), offers media companies and advertisers a comprehensive suite of leading digital solutions and services focused on optimizing audience targeting, user engagement and the overall performance of online, mobile and multimedia content and marketing campaigns. Nexstar Digital’s enterprise-class publishing platforms, mobile video monetization technology and professional digital agency services deliver powerful digital advertising and content monetization solutions to clients across the United States. Nexstar Digital products include Lin Digital, Tactive (powered by Lin Digital), Mass2, HYFN, Dedicated Media, Lakana, Yashi and Kixer. For more information please visit www.nexstar.tv/digital.
This communication includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Forward-looking statements include information preceded by, followed by, or that includes the words “guidance,” “believes,” “expects,” “anticipates,” “could,” or similar expressions. For these statements, Nexstar claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this communication, concerning, among other things, future financial performance, including changes in net revenue, cash flow and operating expenses, involve risks and uncertainties, and are subject to change based on various important factors, including the impact of changes in national and regional economies, the ability to service and refinance our outstanding debt, successful integration of acquired television stations and digital businesses (including achievement of synergies and cost reductions), pricing fluctuations in local and national advertising, future regulatory actions and conditions in the television stations’ operating areas, competition from others in the broadcast television markets, volatility in programming costs, the effects of governmental regulation of broadcasting, industry consolidation, technological developments and major world news events. Nexstar undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this communication might not occur. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see Nexstar’s other filings with the SEC.
Thomas E. Carter
EVP and Chief Financial Officer
Nexstar Media Group, Inc.
Joseph Jaffoni, Jennifer Neuman
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