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  "authorName": "Getty Images",
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  "presentationDate": "2021-12-01 00:00:00",
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  "notes": "Includes detailed footnotes regarding financial definitions and assumptions.",
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      "text": "Investment in Marketing to Drive Growth; Investment in Data Capabilities and Technology to Drive Product Innovation; Opportunistically Evaluate M&A; Balance Capital Structure and Shareholder Return",
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      "text": "Expect to be within target leverage range within 24 months",
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      "text": "Pro forma for this transaction, including debt paydown & repricing / refinancing, we expect $200mm+ in Levered Pre-Tax FCF, representing a ~$55mm uplift",
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      "text": "1 Levered Pre-Tax Free Cash Flow is defined as Adj. EBITDA less capital expenditures, interest and other adjustments. 2 Based on proposed transaction structure, reflecting estimates for 3/31/2022. 3 Based on midpoint of guidance range for FY 2022E Adj. EBITDA. 4 Please see appendix for a reconciliation of non-GAAP measures. Pro forma net leverage ratio may vary depending on redemption levels and cash availability. 5 Assumes a full year of interest expense savings after de-levering to 3.5x. 6 Expectation based on long term organic growth model, using excess cash flow to pay down debt.",
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