Nexstar Broadcasting Names Patrick Cusick Vice President, Controller and Randall Bradford Vice President of Financial Operati...
March 31 2014 - 7:00AM
Business Wire
Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced
today that the Company’s Controller Patrick J. Cusick, CPA, has
been promoted to the position of Vice President, Controller. In
addition, Director of Financial Operations, D. Randall Bradford,
CPA, has been promoted to Vice President of Financial Operations.
The appointments are effective April 1, 2014 and Messrs. Cusick and
Bradford will report directly to Nexstar Chief Financial Officer,
Thomas E. Carter.
Mr. Cusick will be responsible for oversight of all accounting,
tax and financial reporting activities including Securities and
Exchange Commission (SEC) filings, certifications and
Sarbanes-Oxley compliance and documentation, as well as managing
the audit function and relationship. Mr. Bradford will oversee
financial, treasury and risk management and special projects for
the various operating units of the company. In addition, both
Cusick and Bradford will continue to conduct internal and industry
analysis to support the Company’s goals for organic and M&A
growth.
Thomas Carter commented, “Nexstar has developed a deep financial
management team and we are delighted to elevate Patrick and Randy’s
responsibilities and acknowledge their past contributions. Patrick
and Randy bring strong backgrounds in financial reporting,
regulatory compliance and merger and acquisition skills to their
new positions at Nexstar. In addition, both possess deep industry
knowledge having worked at Nexstar during a period of rapid growth
and expansion. We are confident that their background, expertise
and knowledge will continue to prove valuable to Nexstar as we
further build the company through strong station management
disciplines, expansion of our digital media operations, and the
acquisition and integration of acquired properties.”
Mr. Cusick brings 25 years of accounting experience to his
position at Nexstar including three and a half years at the
Company. He joined Nexstar in August 2010 and served as the
Company's Assistant Controller from August 2010 to December 2012
and has served as the Company’s Controller since January 1, 2013.
From 2006 to 2010, Mr. Cusick was an Assurance Senior Manager at a
nationally recognized accounting firm, managing audit engagements
for public and private mid-market companies and he previously held
positions with two big four accounting firms. Mr. Cusick earned a
Masters of Accounting from University of Florida in 1993 and a
Bachelor of Science in Accounting in 1991.
Mr. Bradford brings 16 years of accounting and finance
experience to his new position and joined Nexstar in 2009 as
Regional Controller and has served since January 2013 as Director
of Financial Operations. Prior to joining the company, Mr. Bradford
was the Chief Financial Officer of a radio broadcasting company
where he established and directed accounting, financial, risk
management and human resource activities, secured credit facility
financing and negotiated station acquisition transactions. From
1999 to 2005 he served as Controller at a start-up provider of
Internet-based solutions and services for healthcare entities,
where he established and oversaw the accounting activities. Earlier
in his career he held senior finance and accounting positions at
several organizations. Mr. Bradford earned a BBA in Finance from
Texas A&M University in 1988.
About Nexstar Broadcasting Group, Inc.
Nexstar Broadcasting 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 74 television stations and 13
related digital multicast signals reaching 44 markets or
approximately 12.1% of all U.S. television households. Nexstar’s
portfolio includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV,
The CW, Telemundo, Bounce TV and independent stations. Nexstar’s 43
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.
Pro-forma for the completion of all announced transactions
Nexstar will own, operate, program or provides sales and other
services to 108 television stations and related digital multicast
signals reaching 56 markets or approximately 16.0% of all U.S.
television households.
Forward-Looking Statements
This news release 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, the Company 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 news release,
concerning, among other things, 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, our ability
to service and refinance our outstanding debt, successful
integration of acquired television stations (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 served by the Company,
volatility in programming costs, the effects of governmental
regulation of broadcasting, industry consolidation, technological
developments and major world news events. Unless required by law,
we undertake 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 news
release 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 our filings with the Securities and
Exchange Commission.
Nexstar Broadcasting Group, Inc.Thomas E. Carter,
972-373-8800Chief Financial OfficerorJCIRJoseph Jaffoni / Jennifer
Neuman, 212-835-8500nxst@jcir.com
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