Nexstar bids for Media General

[tyrannical bastard 3536]

The sad thing is that if a company the size of Sinclair would fail is that these could trigger "failed station" waivers if there are no suitable buyers in the event of a bankruptcy auction. The only logical choice could be local competitors that may be maxed out otherwise, but the stations could be fair game given such a scenario should it ever happen....

 

I still think it's going to be a market by market case of who gets kept and who gets sold or shelled. They would be foolish to pass up getting WANE over WFFT, but could be smart by keeping WFXR over WSLS... And markets like Green Bay and the Quad Cities could be even dicier....

[mardek1995 200]

One divestiture already being made. In Terre Haute, WTHI-TV will be sold off.

 

http://www.tribstar.com/news/local_news/nexstar-media-general-merger-to-result-in-sale-of-wthi/article_d0144ede-e21a-11e5-9ef3-c71e100a0ca2.html

 

They're selling off the stronger operation? WTWO isn't even in HD!

That's actually the wise choice that I predicted that they would choose. Because they'd be foolish to give up either WTWO or WAWV for WTHI!

 

The sad thing is that if a company the size of Sinclair would fail is that these could trigger "failed station" waivers if there are no suitable buyers in the event of a bankruptcy auction. The only logical choice could be local competitors that may be maxed out otherwise, but the stations could be fair game given such a scenario should it ever happen....

 

I still think it's going to be a market by market case of who gets kept and who gets sold or shelled. They would be foolish to pass up getting WANE over WFFT, but could be smart by keeping WFXR over WSLS... And markets like Green Bay and the Quad Cities could be even dicier....

Green Bay and the Quad Cities aren't as dicey as you might think. I predict that for Green Bay, WBAY will be sold off in favor of WFRV, and for the Quad Cities, KWQC will be sold off. And that right there is what stations (Green Bay and Quad Cities) I predict will be sold off

[Surplus Engineer 38]

They're selling off the stronger operation? WTWO isn't even in HD!

 

I said this was a possibility in October. I think my rationale held out.

 

"What they would divest depends heavily on whether they value short term or long term returns.

 

In Terre Haute, if they value long term returns, then the move is clearly to hold onto WTHI and sell WTWO.

 

If they place a higher value on short term return, then the clear play would be to sell WTHI. They would get a much higher sale price from a prospective buyer for THI like Tribune or Scripps. They could also set up an agreement with Mission (I'm pretending that Mission really does have some measure of independence and isn't a complete shell game sham) to split the WTWO/WAWV spectrum auction cash and channel share. Presuming that you want to keep both the CBS and Fox side HD, you likely couldn't do that with WTHI. If they plan on running things the way Nexstar tends to run things, they might as well cash out now because it's an open question how long THI would continue to own the market if it's being starved of resources while somebody else owns TWO."

[CircleSeven 1945]

Okay. The comprehensive exhibit has been updated, as of today (3/17).

 

The updated exhibit provided recent numbers so they don't have to break its Hampton Roads duopoly (WAVY/WVBT).

 

They also add a section listing some "Public Interest Benefits", highlighting some news-related investments both groups have done in recently years, including Nexstar's recent news expansions in Marquette, Roanoke, Huntsville, Hagerstown, and MG's formation of their new DC bureau (which Nexstar will take over after closing). Nexstar has also stated that it has plans post-merger to form new statewide news bureaus in Albany, NY, Austin, & Nashville, since Nexstar will have stations in most of its markets in each state.

[mardek1995 200]

Okay. The comprehensive exhibit has been updated, as of today (3/17).

 

The updated exhibit provided recent numbers so they don't have to break its Hampton Roads duopoly (WAVY/WVBT).

 

They also add a section listing some "Public Interest Benefits", highlighting some news-related investments both groups have done in recently years, including Nexstar's recent news expansions in Marquette, Roanoke, Huntsville, Hagerstown, and MG's formation of their new DC bureau (which Nexstar will take over after closing). Nexstar has also stated that it has plans post-merger to form new statewide news bureaus in Albany, NY, Austin, & Nashville, since Nexstar will have stations in most of its markets in each state.

At least Nexstar gets a DC bureau, because they'll need it seeing as how large it'll become.

[Eat News 4738]

At least Nexstar gets a DC bureau, because they'll need it seeing as how large it'll become.

 

That bureau can...and most likely WILL be cut in the near future rounds of trimming and cutbacks.

 

That's the only reason it is surviving for now...

...so it can be cut.

 

Get the logic yet?

[Guest NewsHound]

I think the real question is what's going to happen with this sale once the FCC makes their ruling on the Augusta debacle. If they rule against Media General AND consider license revocation, you can kiss their approval of the sale to Nexstar goodbye.

[Eat News 4738]

Lic revocations used to take forever, so who says Augusta will be ruled on first?

[tyrannical bastard 3536]

I still think that the pending transfer of ownership will bring this matter to a close.

Because it was Media General who screwed up in Augusta. Nexstar didn't do anything in this case. Since they will be taking over the licenses of pretty much all of Media General (with the exception of forced divestitures), the book will close on Media General and worst case scenario will bar them from ever holding a license again. Nexstar will be the beneficiary should the deal be greenlit by the FCC.

[CircleSeven 1945]

Your usual complainers (ACA, Free Press, etc.) have filed petitions of deny of this sale.

[mardek1995 200]

Your usual complainers (ACA, Free Press, etc.) have filed petitions of deny of this sale.

And as usual, they will fail. Or will they? I really don't know if they will be successful or not, that's why I asked.

 

That bureau can...and most likely WILL be cut in the near future rounds of trimming and cutbacks.

 

That's the only reason it is surviving for now...

...so it can be cut.

 

Get the logic yet?

No. In fact, I say that if Nexstar isn't going to keep it, they absolutely should sell it to some other station group who needs it more than they do instead of cutting it.

[PanchamBro 19]

You can say goodbye to WAVY's classic Newswire package

And that's why this deal should be cancelled, because for me, WAVY-TV needs to stay with Newswire, and unfortunately, this is just an horrible deal, because WAVY would have to use another package from Stephen Arnold Music (which used to be WVEC's primary composer due to their ownership by Belo until 2006 when they opted for 615 Music. Since it's purchase by Gannett/TEGNA, WVEC's primary composer is now Gari Music). I hope the FCC reject this deal.

[channel2 891]

I think cosmetic concerns should be the least of your worries.

 

Also, I don't know why people seem to dislike Arnold's music so much.

[MikePulse 315]

I think cosmetic concerns should be the least of your worries.

 

I agree. While WAVY has built brand equity with their news theme, a lot worse can happen than them just slapping on a new sonic signature. For all we know, they can turn out just fine; but worse case scenario, they could be lessened to the bones. Less reporters, less resources...

[cg41386 131]

And that's why this deal should be cancelled, because for me, WAVY-TV needs to stay with Newswire, and unfortunately, this is just an horrible deal, because WAVY would have to use another package from Stephen Arnold Music (which used to be WVEC's primary composer due to their ownership by Belo until 2006 when they opted for 615 Music. Since it's purchase by Gannett/TEGNA, WVEC's primary composer is now Gari Music). I hope the FCC reject this deal.

 

The updated version of Newswire that WAVY currently uses is terrible, IMHO. The previous version was one of my favorite news packages and I still don't care for the newer one.

[bhratbrat 423]

Remember, this deal was pretty much done to please stockholders. Frankly, Meredith would have been the better off, but then what would have prevented Nexstar from still coming in to buy them. Whats going to happen will be that Nexstar is Sinclair V.2 and that troubles me. I wonder if the reason of all of the crazy mergers with MG has somewhat to deal with the massive debt burden of KRON and some of the other misguided purchases over the years. We honestly don't know and won't get a chance to find out because of this craze right now in literally merging everything to where you will have in some markets NEXSTAR/SINCLAIR/insert 3rd owner here. It doesn't really serve the public good. But that is what happens when stations are owned by bigger corporations who are only looking for the bottom line and a quick payout instead of investing in the communities that they are supposed to serve.

[weather8822 17]

I don't believe this has been posted anywhere in here yet, but 3 different petitions to deny the Nexstar deal were submitted to the FCC by Cox, Dish Network, and Communications Workers of America. You can read them here:

 

http://apps.fcc.gov/ecfs/comment_search_solr/doSearch?proceeding=16-57&applicant=&lawfirm=&author=&disseminated.minDate=&disseminated.maxDate=&received.minDate=&received.maxDate=&dateCommentPeriod.minDate=&dateCommentPeriod.maxDate=&dateReplyComment.minDate=&dateReplyComment.maxDate=&address.city=&address.state.stateCd=&address.zip=&daNumber=&fileNumber=&bureauIdentificationNumber=&reportNumber=&submissionType=&__checkbox_exParte=true

[channel2 891]

Remember, this deal was pretty much done to please stockholders. Frankly, Meredith would have been the better off, but then what would have prevented Nexstar from still coming in to buy them. Whats going to happen will be that Nexstar is Sinclair V.2 and that troubles me. I wonder if the reason of all of the crazy mergers with MG has somewhat to deal with the massive debt burden of KRON and some of the other misguided purchases over the years. We honestly don't know and won't get a chance to find out because of this craze right now in literally merging everything to where you will have in some markets NEXSTAR/SINCLAIR/insert 3rd owner here. It doesn't really serve the public good. But that is what happens when stations are owned by bigger corporations who are only looking for the bottom line and a quick payout instead of investing in the communities that they are supposed to serve.

 

KRON had nothing to do with this. Most of the debt Young incurred was wiped out when they went through bankruptcy during 2009-10.

[bhratbrat 423]

Understandable on that, but then Media General has grown from being a regional company (predominantly in the Southeast) as late as 2009 and then has gotten to the point with various acquisitions to grow to the point they are at this minute. The other question is how much debt burden does Media General hold to where they are even considering a deal with Nexstar for Nexstar to literally buy them out. The only pockets that are getting fatter here are shareholders pockets and that the deal still doesn't serve the public good. Just like when Sinclair bought out Allbritton and all of the other companies they have purchased along the way, you could find a situation where there could be as few as two true voices in the market (SINCLAIR[side]/NEXSTAR[side]) or for stations to go completely dark like they did during the Allbritton deal so the FCC can get its way by attempting to conveniently "forget" about what a television station is supposed to be doing and instead are following their own (Mr. Wheeler's) interests.

[mardek1995 200]

I don't believe this has been posted anywhere in here yet, but 3 different petitions to deny the Nexstar deal were submitted to the FCC by Cox, Dish Network, and Communications Workers of America. You can read them here:

 

http://apps.fcc.gov/ecfs/comment_search_solr/doSearch?proceeding=16-57&applicant=&lawfirm=&author=&disseminated.minDate=&disseminated.maxDate=&received.minDate=&received.maxDate=&dateCommentPeriod.minDate=&dateCommentPeriod.maxDate=&dateReplyComment.minDate=&dateReplyComment.maxDate=&address.city=&address.state.stateCd=&address.zip=&daNumber=&fileNumber=&bureauIdentificationNumber=&reportNumber=&submissionType=&__checkbox_exParte=true

And we should join the petitioners to stop the Nexstar Media deal, or at least get the fcc to put at least one condition of said deal.

 

Understandable on that, but then Media General has grown from being a regional company (predominantly in the Southeast) as late as 2009 and then has gotten to the point with various acquisitions to grow to the point they are at this minute. The other question is how much debt burden does Media General hold to where they are even considering a deal with Nexstar for Nexstar to literally buy them out. The only pockets that are getting fatter here are shareholders pockets and that the deal still doesn't serve the public good. Just like when Sinclair bought out Allbritton and all of the other companies they have purchased along the way, you could find a situation where there could be as few as two true voices in the market (SINCLAIR[side]/NEXSTAR[side]) or for stations to go completely dark like they did during the Allbritton deal so the FCC can get its way by attempting to conveniently "forget" about what a television station is supposed to be doing and instead are following their own (Mr. Wheeler's) interests.

Why did you put Mr Wheeler's interests in parentheses?

[bhratbrat 423]

Mr. Wheeler was a former top lobbyist for the wireless industry. And that is why a lot of people are believing that he is really using his government influence in this case to force sharing propositions and to get rid of JSA/SSA's is to help out the wireless companies and not for broadcasters

[mardek1995 200]

Mr. Wheeler was a former top lobbyist for the wireless industry. And that is why a lot of people are believing that he is really using his government influence in this case to force sharing propositions and to get rid of JSA/SSA's is to help out the wireless companies and not for broadcasters

Did he get nexstar to acquire media general just so he could kill off broadcasting?

[bhratbrat 423]

Mardek: Of course not.

 

The Nexstar deal is more or less to benefit shareholders instead of serving the community.

 

I will take for example two former Emmis stations: FOX 2 in Hawaii and KOIN 6 to where they both have had four ownership changes in ten years. (EMMIS->Montecito {wrong spelling}->New Vision->LIN->Media General->Nexstar {pending}) and are now going to their fifth ownership change. All of these changes have only served shareholder's wallets and not the community. Granted at these two stations, local management does the best, but when you have in this case a big company that is now begging by its shareholders to be bought out by a giant broadcaster, it does not serve any interest whatsoever unless its the bank accounts of the share holders. And to me I find that disturbing because the basis of broadcasting was that it is supposed to be a public service and therefore should be served by the best interests of the public.

 

What we have now is a situation as mentioned earlier that a lot of markets will have SINCLAR [& sidecar]/NEXSTAR [& sidecar]/Third Owner and that in my opinion doesn't serve the public interest. And how does the FCC play into all of this. The FCC (and Mr. Wheeler) is using his influence (either inadvertently or on purpose) to better benefit wireless companies (AT&T/Verizon/T-Mobile/Sprint) to get more spectrum. That is why there is a reverse auction going to finally pay off broadcasters that are willingly participating in this. If the FCC is allowed to continue course past this election, I do imagine a time in my lifetime where local broadcasting could be a relic of the past.

[mardek1995 200]

Mardek: Of course not.

 

The Nexstar deal is more or less to benefit shareholders instead of serving the community.

 

I will take for example two former Emmis stations: FOX 2 in Hawaii and KOIN 6 to where they both have had four ownership changes in ten years. (EMMIS->Montecito {wrong spelling}->New Vision->LIN->Media General->Nexstar {pending}) and are now going to their fifth ownership change. All of these changes have only served shareholder's wallets and not the community. Granted at these two stations, local management does the best, but when you have in this case a big company that is now begging by its shareholders to be bought out by a giant broadcaster, it does not serve any interest whatsoever unless its the bank accounts of the share holders. And to me I find that disturbing because the basis of broadcasting was that it is supposed to be a public service and therefore should be served by the best interests of the public.

 

What we have now is a situation as mentioned earlier that a lot of markets will have SINCLAR [& sidecar]/NEXSTAR [& sidecar]/Third Owner and that in my opinion doesn't serve the public interest. And how does the FCC play into all of this. The FCC (and Mr. Wheeler) is using his influence (either inadvertently or on purpose) to better benefit wireless companies (AT&T/Verizon/T-Mobile/Sprint) to get more spectrum. That is why there is a reverse auction going to finally pay off broadcasters that are willingly participating in this. If the FCC is allowed to continue course past this election, I do imagine a time in my lifetime where local broadcasting could be a relic of the past.

It just might as well be after the tv M&A craze is done. First off, because cord cutting is increasingly becoming the worldwide sensation. Second, the FCC plays a lot more into this than you think. For one thing, the FCC allowed Sinclair to grow as big as it is now, and more than likely Nexstar as well. And last, but for sure not least, many of the shareholders the TV M&A craze (such as the Nexstar Media Group) benefits are rich, and I wouldn't be surprised if they were fighting against other rich and powerful people while casting the middle class aside as collateral damage.

[PanchamBro 19]

It just might as well be after the tv M&A craze is done. First off, because cord cutting is increasingly becoming the worldwide sensation. Second, the FCC plays a lot more into this than you think. For one thing, the FCC allowed Sinclair to grow as big as it is now, and more than likely Nexstar as well. And last, but for sure not least, many of the shareholders the TV M&A craze (such as the Nexstar Media Group) benefits are rich, and I wouldn't be surprised if they were fighting against other rich and powerful people while casting the middle class aside as collateral damage.

And the FCC is allowing iON to own so much O&O?!

 

iON is worst than Sinclair, and the Nexstar + Media General deal is as bad as iON.