Engineer57

 

Hearst got a hold of WVTM for a measly $3 MILLION....(for the building itself)

http://www.bizjournals.com/birmingham/news/2015/01/06/hearst-pays-3-million-for-wtvm-channel-13.html

 

Given WVTM's place in that market, i doubt the other assets added up to much. They are languishing in 4th place with a measly 4 percent market share. (from MG's annual report) And Hearst stepping in to immediately replace the GM with one of their own signals a change is coming...

...now if only MG doesn't send WIAT back into the basement where it languished for almost their entire existence.

 

For comparison, Meredith bought WALA down in Mobile for $86 MILLION.....

http://www.tvnewscheck.com/article/81744/meredith-completes-wala-mobile-purchase

 

 

Even in last place in the ratings and suffering neglect, a major network affiliate in a top 50 market going for four or five times that price would have raised eyebrows as a bargain. That is preposterously cheap. Is there some kind of divestiture quid pro quo at work here?