Dantheflash2014 14 Posted October 24, 2014 Share Posted October 24, 2014 Nexstar Buying KASW Phoenix For $68M The deal for the CW affiliate is a result of Meredith agreeing to spin off the station after buying it along with KTVK from Gannett in June. Nexstar Broadcasting Group is paying $68 million plus working capital to Meredith Corp. for CW affiliate KASW Phoenix (DMA 11). Meredith and its sidecar SagamoreHill purchased KASW from Gannett Co. and Sander Media as part of Gannett’s acquisition of Belo Corp. As part of FCC approval, Meredith and SagamoreHill voluntarily agreed to divest KASW to an independent buyer within 90 days of its June 19 closing. Nexstar said the proposed acquisition “is expected to be accretive to Nexstar’s operating results immediately upon closing and inclusive of all other previously announced transactions, will expand the company’s coverage to 57 markets in 22 states, reaching approximately 19.7 million television households. Source TVNewscheck Link to comment https://localnewstalk.net/topic/13979-nexstar-buying-kasw-phoenix-for-68m/ Share on other sites More sharing options...
Dantheflash2014 14 Posted October 24, 2014 Author Share Posted October 24, 2014 Nextstar will become first television station in Arizona!, and will become largest market. Good news, Under Nexstar’s ownership we intend to initiate local programming and a local community orientation. Link to comment https://localnewstalk.net/topic/13979-nexstar-buying-kasw-phoenix-for-68m/#findComment-117249 Share on other sites More sharing options...
Dantheflash2014 14 Posted October 25, 2014 Author Share Posted October 25, 2014 Target: KCWI in Des Moines, IA Recent trend has been shrinking number of standalone CW affiliates in a market, but Nexstar picking up KASW Phoenix and, I'm told, KCWI Des Moines Next. I have a story out Oct. 27 on the various CW stations that are freestanding, as in, don’t have a duopoly partner in the market. There are not many of them, and the number is shrinking in this era of consolidation and all-important duopolies. Gray Television picked up WQCW earlier this year, for instance, and paired it up with WSAZ. Wouldn’t you know it, just as I was finishing up my story, Nexstar went and acquired KASW Phoenix for $68 million; the station had been acquired, along with KTVK, by Meredith from Gannett in June, which then lined up Sagamore Hill to hold the license. Meredith’s initial deal was for $230 million. Nexstar is not done yet. Sources tell me KCWI in Des Moines, another CW, is going to Nexstar as well. Perry Sook, Nexstar president and CEO, would not confirm, but said he hoped to do so “very soon.” That would mean another standalone CW station. Titan Broadcast, which operates some Pappas stations, would not confirm either. I asked Ted Stephens, general manager of KCWI, how the Pappas-owned station has been able to hold on as a standalone in the market. Stephens mentioned a 6-10 a.m. variety program called Great Day that’s been on KCWI for a few years; he calls it “our salvation.” The show hosts local performers, authors and personalities, and features local headlines, weather and traffic. “That’s the key,” says Stephens. “Local, local, local.” The biggest holders of non-duopoly CWs are Tribune, of course, as well as Lockwood Broadcasting, with CW stations in Knoxville, Huntsville and Greensboro. Also key to surviving as standalones: a big, savvy operator behind you, and a batch of digi-nets to expand your offerings beyond CW and your own local stuff. Source: Broadcasting And Cable. :agree: Link to comment https://localnewstalk.net/topic/13979-nexstar-buying-kasw-phoenix-for-68m/#findComment-117319 Share on other sites More sharing options...
Samantha 2895 Posted October 25, 2014 Share Posted October 25, 2014 Local, local, local. Sounds like Nexstar to me. Also, duopoly potential helps (with WOI) and the fact that the seller is trying to get rid of stuff (Pappas). Link to comment https://localnewstalk.net/topic/13979-nexstar-buying-kasw-phoenix-for-68m/#findComment-117332 Share on other sites More sharing options...
TVIntheDesert 183 Posted October 25, 2014 Share Posted October 25, 2014 Malone's B&C article has a number of fallacies, including not mentioning WOI as being owned by Nexstar. Also, he mentions supplementing the cash flow with diginets, something that Nexstar isn't known for being a proponent of, but they seem to be warming up a little. The problem in Phoenix is their preferred diginets (Me-TV and Bounce TV) are already taken. Link to comment https://localnewstalk.net/topic/13979-nexstar-buying-kasw-phoenix-for-68m/#findComment-117343 Share on other sites More sharing options...
TVIntheDesert 183 Posted December 20, 2014 Share Posted December 20, 2014 The FCC greenlighted the acquisition of KASW by Nexstar yesterday. Will we see this close before Christmas? Link to comment https://localnewstalk.net/topic/13979-nexstar-buying-kasw-phoenix-for-68m/#findComment-120108 Share on other sites More sharing options...
CircleSeven 1955 Posted December 23, 2014 Share Posted December 23, 2014 The FCC greenlighted the acquisition of KASW by Nexstar yesterday. Will we see this close before Christmas? Along with KASW, the KCWI deal was also greenlighted on the same day. Link to comment https://localnewstalk.net/topic/13979-nexstar-buying-kasw-phoenix-for-68m/#findComment-120222 Share on other sites More sharing options...
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