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
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.
Forward-Looking Statements
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170330005075/en/
Nexstar Broadcasting Group, Inc.Thomas E. Carter,
972-373-8800EVP and Chief Financial OfficerorJCIRJoseph Jaffoni,
Jennifer Neuman212-835-8500nxst@jcir.com
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