The company's significant size, scale, and diversity as one of the largest non-network-owned TV station groups. Its rapidly growing and predictable retransmission revenue stream. Its healthy EBITDA margins in the mid-30% area. The long-term structural changes in media consumption. The company's debt to average-eight-quarter EBITDA, which we expect to decline to about 5x by the end of 2017 and moderate to under 5x in 2018. Its aggressive acquisition history. The stable rating outlook on Nexstar Media Group Inc. reflects our expectation that the company will be able to leverage its increased size and scale to generate significant discretionary cash flow, maintain its above-average EBITDA margin profile compared with similarly rated peers, and reduce debt to average trailing-eight-quarter EBITDA to about
