Nexstar bids for Media General

[tyrannical bastard 3955]

Mark my words.....Nexstar is going to "absorb" some of the stations that should be divested. WSLS is especially vulnerable since its a 3rd place station and with Nexstar having a brand new facility to run their other two stations....it doesnt look good for WSLS.

[TheRolyPoly 2449]

This will mean that Roanoke will have new owners within a 2-year span.

 

WDBJ being merged with Gray.

WSLS will get a new owner.

WSET has Sinclair.

WFXR is with Nexstar (and will more likely keep WFXR).

[atlnews2 591]

Meredith might get the first say on the conflicts but none are in top-50 markets. Gray is in only one of the conflict markets though?

 

I can see Meredith being interested in the divestitures in Quad Cities, Green Bay, and Roanoke. The other cities are a toss up

[mre29 1537]

171. Need to get rid of 6.

 

165....the same number that Sinclair will have once all of its pending acquisitions are completed.

 

Good Lord, that's insane.

[TennTV1983 804]

This means that Nexstar will own stations in 4 of the 6 media markets here in Tennessee (WATN/WLMT in Memphis, WKRN in Nashville, WATE in Knoxville, and WJHL in the Tri-Cities).

 

Get ready for a LOT of cost-cutting and weird website names for all of the soon-to-be former MG stations.

So....congratulations to Meredith for escaping?

They'll probably use the savings to find another partner to merge with at this point.

[atlnews2 591]

How many newschoppers are going to be taken out to pasture ?

[promoguy98 253]

A person only needs to look at radio and how conglomerates destroyed and made the medium fairly irrelevant to listeners, technology pushed that forward as well. As technology continues to evolve, the viewer will have choices not even imagined today. It's only a matter of time before Sinclair and Nexstar get themselves into serious financial poopoo. Sadly, they didn't learn much from history, so history is bound to repeat itself.

[GoldenShine9 1513]

165....the same number that Sinclair will have once all of its pending acquisitions are completed.

 

Good Lord, that's insane.

 

If they kept and shelled everything they would have 177. But in Fort Wayne, Terre Haute, Lafayette and the Quad Cities especially the FCC wouldn't let them as it would leave either a monopoly or 1 independent voice.

[TennTV1983 804]

How many newschoppers are going to be taken out to pasture ?

I would say all of them are gone at this point, though I would be fairly surprised if the new Nexstar decides to keep any (either that or give every station a drone cam instead).

[GoldenShine9 1513]

I do think Roanoke might be shellable since there isn't an obvious buyer for WSLS and they are 3rd and 4th place stations. If Gray hadn't bought Schurz they would have an easy purchase. Since Nexstar has mostly duopolies already I expect the current MG stations to be the ones divested.

[GoldenShine9 1513]

This will mean that Roanoke will have new owners within a 2-year span.

 

WDBJ being merged with Gray.

WSLS will get a new owner.

WSET has Sinclair.

WFXR is with Nexstar (and will more likely keep WFXR).

 

WSLS lacks an obvious buyer looking at geography and cap room. That one might get shelled.

[mre29 1537]

Speaking of Gray, a quick check of Wikipedia reveals that, at 77 stations, it'll be the third-largest station group after Sinclair and Nexzilla.

 

The fourth-largest? Ion.

[TennTV1983 804]

I do think Roanoke might be shellable since there isn't an obvious buyer for WSLS and they are 3rd and 4th place stations. If Gray hadn't bought Schurz they would have an easy purchase. Since Nexstar has mostly duopolies already I expect the current MG stations to be the ones divested.

Raycom might be an option, but I don't see that happening.

[tyrannical bastard 3955]

With WNTZ in Natchez, MS (serving the Alexandria DMA but licensed inside the Jackson market)....that technically makes a duopoly with WJTV. There are too few stations to permit one, especially with Raycom's virtual triopoly.

[Big Country News 435]

I think Nexstar will cancel their Stephen Arnold exclusivity contract. The station group will be too big for a total of 5 packages in syndication.

 

(Most of which sound cheap and small market)

[GoldenShine9 1513]

With WNTZ in Natchez, MS (serving the Alexandria DMA but licensed inside the Jackson market)....that technically makes a duopoly with WJTV. There are too few stations to permit one, especially with Raycom's virtual triopoly.

 

I never thought of that! Selling WJTV would likely invoke selling WHLT as well, since WHLT is a satellite of WJTV. But that could be an easy sale just to get under the cap if this puts them over by poor math. They might get away with a shell there though, since at least there is a third voice (Hearst).

[mardek1995 200]

I don't know about this but, I think this is actually a better option than Meredith Media General. Unfortunately with the death of Media General's chairman, they have nothing left. Not to mention they get Austin and Rhode Island back (the had been there when operating Four Points Television), and as I said in my other thread, Perry A Sook is right: http://www.broadcastingcable.com/news/local-tv/natpe-2016-nexstar-s-perry-sook-we-re-middle-ballgame-consolidation/147100

No wonder they kept him as CEO for at least until 2019, and they wanted larger markets since 2003

[atlnews2 591]

I don't know about this but, I think this is actually a better option than Meredith Media General. Unfortunately with the death of Media General's chairman, they have nothing left. Not to mention they get Austin back (the had been there when operating Newoort Television)

 

From a shareholder / business standpoint this is a better deal than the Meredith one. From an employee, news quality, graphics quality, music quality, and website design standpoint this is terrible

[mardek1995 200]

From a shareholder / business standpoint this is a better deal than the Meredith one. From an employee, news quality, graphics quality, music quality, and website design standpoint this is terrible

Shareholders aren't stupid. They knew this was better from the start. Who buys Meredith's products anymore? And Perry Sook is basically Capitol Cities/ABC of local tv

[tw-804 192]

Back in 2013, I was glad that Media General had the opportunity to own a station here in the Richmond area and they got it. WRIC, its second flagship station. Now it's short-lived thanks to the acquisition. This sucks. According to the T-D, the fate of the Media General HQ building is unclear.

 

From today's Richmond Times-Dispatch...

http://www.richmond.com/business/local/article_2f349eb4-2784-5c3f-8dde-3aeb713a49ec.html

 

The combined company's headquarters will be in Irving, Texas, a spokesman for Media General confirmed.

 

The fate of Media General's headquarters building in downtown Richmond was unclear on Wednesday and will be decided when the companies start an integration process. The acquisition is expected to close in the late third quarter or early fourth quarter of this year.

 

Media General has about 80 corporate headquarters employees.

 

Sook said on the conference call that he expects there will be corporate jobs available to Media General employees in the new company.

 

The combined company will cut some staff, though. Nexstar said it expects to achieve about $76 million in "synergies," or cost reductions and efficiencies from combining the companies' operations in the first year after the merger.

 

Of that, $27 million will come from personnel reductions and eliminating redundant professional services, along with other costs.

 

[promoguy98 253]

From a shareholder / business standpoint this is a better deal than the Meredith one. From an employee, news quality, graphics quality, music quality, and website design standpoint this is terrible

 

Very true. Most shareholders only care about what's in their pocket short-term as in tomorrow. Long-term, this and Sinclair is a disaster for the industry. One only has to look at how Clear Channel and Cumulus destroyed radio and its relevancy to an audience. Look at their stock prices today compared to a decade ago. None of these companies are too big to fail. Good for the shareholder short-term? Sure. Good for the industry and viewership long-term? Doubtful.

[atlnews2 591]

And Perry Sook is basically Capitol Cities/ABC of local tv

 

what the fuck are you talking about ?

[mardek1995 200]

what the fuck are you talking about ?

CapCities bought ABC in 1986 and was considered one of the most controversial moves ever in the broadcasting business. The Nexstar Media Group is better from the start, but mostly for advertisers, and nobody wants national media (at least not anymore), which is part of why many people, including myself, don't trust the media. Here's a video as proof:

(Sook compares Nexstar (now Nexstar Media) to CapCities starting in 3:47)

[atlnews2 591]

CapCities bought ABC in 1986 and was considered one of the most controversial moves ever in the broadcasting business. The Nexstar Media Group is better from the start, but mostly for advertisers, and nobody wants national media (at least not anymore), which is part of why many people, including myself, don't trust the media. Here's a video as proof:

(Sook compares Nexstar (now Nexstar Media) to CapCities starting in 3:47)

 

"Sook compares Nexstar (now Nexstar Media) to CapCities " The ego is strong with this one

 

 

You've made multiple posts on this site praising Perry Sook and Nexstar's "local" initiative. I am now convinced that you are him in disguise trying to improve the company's image, because no one (and I mean NO ONE) holds Sook or Nexstar in high regard

[mardek1995 200]

"Sook compares Nexstar (now Nexstar Media) to CapCities " The ego is strong with this one

 

 

You've made multiple posts on this site praising Perry Sook and Nexstar's "local" initiative. I am now convinced that you are him in disguise trying to improve the company's image, because no one (and I mean NO ONE) holds Sook or Nexstar in high regard

I don't, but with the purchase of Media General, he has earned my grudging respect. I hate how he had to buy said company, but he wanted it as soon as they got out of publishing 3 years ago and was persistent in getting it, which is a trait that most TV CEOs don't have extensively. And being the most interesting person on B&C doesn't mean he's well liked. In this case though, its quite the opposite. And I am acknowledging the truth that most everyone on this site (or most anyone else tracking the media industry in general, including myself when I joined this website in 2014) won't accept!!!