LIN is merging with Media General

[promoguy98 253]

http://www.mediabistro.com/tvspy/media-general-and-lin-merger-approved-by-shareholders_b130680

 

Media General and Lin Merger Approved by Shareholders. The station groups say the two companies are committed to the deal and ready for approval.

 

Also, announced is a new corporate leadership structure that will come into play under Vincent Sadusky once the two companies are combined.

[DirtyHarry 727]

WFNA can continue as a duopoly partner, but the upcoming acquisitions in Dayton, Youngstown and especially Albuquerque could necessitate some sell off of excess spectrum, and could come in handy to start paying down the debt incurred in this merger. It was debt after the NBC deal and the collapse of the newspaper side that nearly brought Media General to its knees...

FWIW, judging strictly by signals I'm able to DX over the air here in Columbus, WBDT has a better signal than WDTN. In fact, I can get WBDT semi-regularly around here. On paper, WDTN should have the better signal. Could this have anything to do with WKEF and WDTN being on adjacent channels?

[The Frog 433]

DOJ approval.

 

http://www.reuters.com/article/2014/10/30/linmedia-mediageneral-antitrust-idUSL1N0SP2SW20141030

[Dantheflash2014 14]

BREAKING NEWS: Media General gets US approval to buy LIN Media after divestitures

 

From Reuters:

Oct 30 (Reuters) - Media General Inc has won U.S. antitrust approval to buy LIN Media LLC after agreeing to divest television stations in five markets, the Justice Department said on Thursday.

The deal was valued at $1.6 billion when it was announced in March.

To win government approval for the deal, the companies agreed to sell one station in Birmingham, Alabama, two in Savannah, Georgia, one near Alabama's border with Florida, one near Rhode Island's border with Massachusetts and two in Wisconsin.

Before the deal, Richmond, Virginia-based Media General operated 31 network-affiliated television stations and Austin, Texas-based LIN owned or operated 43 TV stations and seven digital channels in 23 markets across the country.

 

The Justice Department said in a competitive impact statement that if the deal were to have gone forward without the divestitures, the prices for advertising spots would have increased in the five markets.

Media General said in a statement that it was "pleased to see the regulatory approval process progressing for our merger with LIN Media."

:agree: :agree: :agree: :watch: :cool:

[channel2 980]

I admit it is a little troubling to see another large broadcast group disappear, but I did find it somewhat abnormal how long this deal was taking.

[scrabbleship 429]

I admit it is a little troubling to see another large broadcast group disappear, but I did find it somewhat abnormal how long this deal was taking.

Still doesn't match Sinclair/Barrington, Sinclair/Allbritton, or the practically dead Sinclair/New Age and Nexstar/ComCorp deals. Or for that matter Quincy/Granite's sub-100 markets.

[GoldenShine9 1513]

In the initial plan, it said it would take a year or more to consummate (they projected 1st Quarter 2015). That seems reasonable given the complexity of the deal and the fact there are side deals alongside it. In addition, from day one, LIN and Media General knew they had to shed some assets.

 

However, depending on how the existing stations are worked through, it might be able to get consummated before year's end.

[broadcastfan9751 140]

The FCC has approved the LIN/Media General merger.

[NEOMatrix 1302]

That's it? You mean that new MG gets approved without having to shut down any stations that LIN shelled? I'M SHOCKED!!!!!

[compubit 673]

The FCC has approved the LIN/Media General merger.

I'm reading this posting (first one I've read in a long time...), and take issue with one aspect: PMMG is claiming that KBVO is a satellite of KXAN, which it no longer is - it's the stand-alone MyNet station for the market (with a barely visible - I haven't been able to pick it up when visiting Austin where I can see the transmitter site... - satellite KBVO-CD with a whopping 5 Watts...). If LIN had been airing KXAN and MNT on KBVO, then it probably wouldn't have been as big of a deal... They do have KNVA assigned to Vaughn, but under a SSA.

 

J

[Marcus Sezek 3]

 

The FCC has approved the LIN/Media General merger.

 

Bang! And there you have it. Thank you.

[CircleSeven 1956]

That's it? You mean that new MG gets approved without having to shut down any stations that LIN shelled? I'M SHOCKED!!!!!

Remember, this transaction (just like last year's MG/Young deal) only affected the main MG/LIN stations, and not the shelled stations.

 

What I'm shocked about is why this deal didn't get docketed (like they did with the MG/Young, Gannett/Belo, Tribune/Local TV & the Sinclair/Allbritton deals)? Yeah I know they divested in the conflicted markets to third-party entities and such, but after docketing all the deals from last year, a deal this massive like MG/LIN, they would've at least done it out of formality.

 

If they deal would've include selling existing shelled stations to a new shell, they would've docket this deal real quick. This just shows how "one-sided" the FCC really is.

[Thundershock MN 169]

 

That's it? You mean that new MG gets approved without having to shut down any stations that LIN shelled? I'M SHOCKED!!!!!

 

Why would they?

 

I'm to lazy to re-type but, I brought this up here and here how they could/would continue. They were all approved prior to the "JSA Order" so, they are all grandfathered and allowed to continue under the two-year grace period. None of the agreements are changing nor are any of the MG/LIN licensee subsidiaries that are party to the agreements. Therefore, said agreements can continue. However, they will still have to unwind the JSA's or re-structure prior to the deadline of June 19, 2016 December 19, 2016* IF they are non-compliant. Or, allow them to become "attributable" provided doing so doesn't violate ownership rules.

 

*FYI - for those unaware the JSA deadline was extended an additional 6 months as a result of President Obama signing the STELAR Act (H.R. 5728) last week. As a result the deadline is now December 19, 2016.

 

 

I'm reading this posting (first one I've read in a long time...), and take issue with one aspect: PMMG is claiming that KBVO is a satellite of KXAN, which it no longer is - it's the stand-alone MyNet station for the market (with a barely visible - I haven't been able to pick it up when visiting Austin where I can see the transmitter site... - satellite KBVO-CD with a whopping 5 Watts...). If LIN had been airing KXAN and MNT on KBVO, then it probably wouldn't have been as big of a deal... They do have KNVA assigned to Vaughn, but under a SSA.

 

J

 

Bear with me as this might sound kind of convoluted. But, for all intents and purposes a "satellite station waiver" is really akin to a "failing station waiver" now.

 

At this point the only real difference between the two is the "main studio requirement". A "failing station" still needs to maintain a "main studio" within it's service contour. However, a "satellite station" is essentially exempt from the "main studio" requirement. The "main studio" of a "satellite station" becomes that of the "parent station".

 

And, a "satellite station" isn't required to originate the programming of the parent station anymore although most still do. Prior to August 14, 1991 a "satellite station" could only originate no more than 5% of their programming on a weekly basis. That requirement was eliminated with the 1991 R&O* revising the policy regarding "satellite stations." Exemptions (or, "satellite station waivers") are now distinguished on the basis of economic considerations.

 

The current criteria for a "satellite station waiver" are as follows:

• Applicants seeking to transfer or assign a television satellite station are entitled to a “presumptive” exemption from Section 73.3555(b-e) of the Commission’s rules if the parent/satellite combination meets three criteria:
  (1) there is no City Grade overlap between the parent and the satellite;
  
• (2) the proposed satellite would provide service to an underserved area;
  
• and (3) no alternative operator is ready and able to construct or to purchase and operate the satellite as a full-service station.
  
• Applications meeting these criteria, when unrebutted, will be viewed favorably by the Commission.
  

 

[*]If an applicant cannot qualify for the presumption, the Commission will evaluate the proposal on an ad hoc basis, and grant the application if there are compelling circumstances that warrant approval.

KBVO met all three criteria and there were no rebuttals. And, the Commission presumptively assumes stations meeting those criteria are acting in the public interest and therefore entitled to the exemption or "waiver." Therefore, the Commission granted the "satellite station waiver" or, exemption.

 

Even if KBVO (or any other station) didn't meet all three criteria for a "favorable presumption" under the rules the Commission could still grant an exemption or "waiver" on an ad-hoc (read: case-by-case) basis.

 

*FCC Record, Volume 06, No. 14 Pages 4212 to 4217

 

 

With all that said I expect this deal to close before years end. Both companies shareholders have already approved the deal so, all that's left is "formalizing" the deal.

[Breaking News 834]

 

Remember, this transaction (just like last year's MG/Young deal) only affected the main MG/LIN stations, and not the shelled stations.

 

What I'm shocked about is why this deal didn't get docketed (like they did with the MG/Young, Gannett/Belo, Tribune/Local TV & the Sinclair/Allbritton deals)? Yeah I know they divested in the conflicted markets to third-party entities and such, but after docketing all the deals from last year, a deal this massive like MG/LIN, they would've at least done it out of formality.

 

If they deal would've include selling existing shelled stations to a new shell, they would've docket this deal real quick. This just shows how "one-sided" the FCC really is.

 

Also somebody could of been paying somebody in the FCC under the table. Would you call that a sidecar deal ?

[tyrannical bastard 3962]

It looks like many of the ex-Young stations AND WHTM have ditched their WorldNow sites (with the exception of WRIC, KELO/KDLO and KRON) for the current LIN WordPress format....

Is this the first visible sign of LIN's influence over the new Media General going forward?

Once the contract with WorldNow expires with the legacy stations and WRIC, they'll probably go back to in-house sites.

[tyrannical bastard 3962]

...also with the approval, Hearst and Sinclair have already starting posting jobs for the soon-to-be cast-off stations on their respective websites. New master controls look to be in order for WVTM and WJCL.

 

Nothing yet with Meredith and WALA, but approval and consummation should be close since WALA has to be divested so Media General does not pick it up (unless a waiver is in place)....

[CircleSeven 1956]

 

...also with the approval, Hearst and Sinclair have already starting posting jobs for the soon-to-be cast-off stations on their respective websites. New master controls look to be in order for WVTM and WJCL.

 

Nothing yet with Meredith and WALA, but approval and consummation should be close since WALA has to be divested so Media General does not pick it up (unless a waiver is in place)....

 

Everything was greenlighted (including the WALA one to Meredith). And it looks like they're going to close it out on Friday.

[compubit 673]

Bear with me as this might sound kind of convoluted. But, for all intents and purposes a "satellite station waiver" is really akin to a "failing station waiver" now.

 

At this point the only real difference between the two is the "main studio requirement". A "failing station" still needs to maintain a "main studio" within it's service contour. However, a "satellite station" is essentially exempt from the "main studio" requirement. The "main studio" of a "satellite station" becomes that of the "parent station".

 

And, a "satellite station" isn't required to originate the programming of the parent station anymore although most still do. Prior to August 14, 1991 a "satellite station" could only originate no more than 5% of their programming on a weekly basis. That requirement was eliminated with the 1991 R&O* revising the policy regarding "satellite stations." Exemptions (or, "satellite station waivers") are now distinguished on the basis of economic considerations.

 

Not convoluted at all - after all, we are dealing with the government ;-)

 

I wasn't aware of the rules change regarding "satellite" stations. Now I just wish for the OTA folks out in Llano, that KBVO carried the KXAN stream (in addition to KBVO...).

 

J

[CircleSeven 1956]

The deal is DONE!!!

 

LIN.

 

Here's the map of the porfolio of the new Media General.

 

[channel2 980]

I saw that on their website...the old map was much more professional-looking.

[tyrannical bastard 3962]

...and Meredith has closed on WALA.

[dalekusa 0]

Seems like WVTM to Hearst is closed too, or it is very imminent, as their website has already switched to the Hearst layout.

[CircleSeven 1956]

 

Seems like WVTM to Hearst is closed too, or it is very imminent, as their website has already switched to the Hearst layout.

 

I just posted it on the shoutbox just now. I was like when the hell did they do that? WJCL is still using the LIN layout, for now.

[sanewsguy 511]

 

I saw that on their website...the old map was much more professional-looking.

 

The map design is similar to what LIN had. Sadusky is already making his mark at MG. And I consider the new Media General a continuation of LIN and not the "old" MG. I think the way LIN was being run, you're going to see that trickle over to MG. This will be good, because MG did not take care of their stations, and LIN did.

 

Also interesting they list both Austin, Providence and Richmond as corporate offices. You think maybe down the road they want to move to Austin? That's where LIN's corporate offices were. And of course LIN's former corporate office was in Providence, I assume some back office functions are still there. Smart move would be to consolidate in one location. IIRC, Richmond is the official headquarters.

 

The more awkward situation is that MG's Richmond headquarters are right across from their old flagship paper, the Richmond Times-Dispatch, deliberately built in that location when MG built new headquarters for corporate and the paper a few years back. (the architecture of the two buildings is the same too) Maybe that could be an excuse to move to Austin?

[CircleSeven 1956]

 

The map design is similar to what LIN had. Sadusky is already making his mark at MG. And I consider the new Media General a continuation of LIN and not the "old" MG. I think the way LIN was being run, you're going to see that trickle over to MG. This will be good, because MG did not take care of their stations, and LIN did.

 

Also interesting they list both Austin, Providence and Richmond as corporate offices. You think maybe down the road they want to move to Austin? That's where LIN's corporate offices were. And of course LIN's former corporate office was in Providence, I assume some back office functions are still there. Smart move would be to consolidate in one location. IIRC, Richmond is the official headquarters.

 

The more awkward situation is that MG's Richmond headquarters are right across from their old flagship paper, the Richmond Times-Dispatch, deliberately built in that location when MG built new headquarters for corporate and the paper a few years back. (the architecture of the two buildings is the same too) Maybe that could be an excuse to move to Austin?

 

I read this piece from the Times-Dispatch yesterday. And Sadusky stated that there Isn't any reason to move the main corporate headquarters away from Richmond.