Samantha 2878 Posted June 13, 2016 Share Posted June 13, 2016 Five more divestitures: WFFT, KIMT, WTHI, WLFI and KQTV will be sold to USA Television MidAmerica Holdings (an affiliate of MSouth Equity Partners and Heartland Media) for $115 million in cash. The WFFT and WLFI transactions remove ownership conflicts. The other three seem geared at reducing cap exposure. Link to comment Share on other sites More sharing options...
atlnews2 563 Posted June 13, 2016 Share Posted June 13, 2016 Five more divestitures: WFFT, KIMT, WTHI, WLFI and KQTV will be sold to USA Television MidAmerica Holdings (an affiliate of MSouth Equity Partners and Heartland Media) for $115 million in cash. The WFFT and WLFI transactions remove ownership conflicts. The other three seem geared at reducing cap exposure. Interesting divestiture in terms of buyer and the stations being divested. Link to comment Share on other sites More sharing options...
CircleSeven 1945 Posted June 13, 2016 Share Posted June 13, 2016 Wow! Nexstar is giving up one of its legacy stations. It bought KQTV with WTWO in 1997. I would've kept KQ2. Other than that, kudos to Prather for acquiring five more markets (including a couple that are adjacent to stations owned by his old company). Link to comment Share on other sites More sharing options...
news89 467 Posted June 13, 2016 Share Posted June 13, 2016 Wow! Nexstar is giving up one of its legacy stations. It bought KQTV with WTWO in 1997. I would've kept KQ2. Other than that, kudos to Prather for acquiring five more markets (including a couple that are adjacent to stations owned by his old company). The KQ2 is an interesting one to sale, and WLFI as well. At least WTHI can still lead the way in the Wabash Valley. I feel bad for anyone that currently works at MG station when the FCC gives the blessing and when first day of ownership happens. To bad they didn't spare WKBN. Link to comment Share on other sites More sharing options...
Samantha 2878 Posted June 13, 2016 Share Posted June 13, 2016 The KQ2 is an interesting one to sale, and WLFI as well. At least WTHI can still lead the way in the Wabash Valley. I feel bad for anyone that currently works at MG station when the FCC gives the blessing and when first day of ownership happens. To bad they didn't spare WKBN. I wonder why they sold KQTV if it's kind of in an inconsequential market. Was it being counted as Kansas City for ownership cap purposes or something? As to WLFI, WISH's loss of CBS affiliation meant WLFI was going to need to go off on its own more anyway. And WTHI's sale was predicted earlier in here because it means Nexstar would rather keep the NBC-ABC operation it already owns. Link to comment Share on other sites More sharing options...
mvcg66b3r 97 Posted June 13, 2016 Share Posted June 13, 2016 Five more divestitures: WFFT, KIMT, WTHI, WLFI and KQTV will be sold to USA Television MidAmerica Holdings (an affiliate of MSouth Equity Partners and Heartland Media) for $115 million in cash. The WFFT and WLFI transactions remove ownership conflicts. The other three seem geared at reducing cap exposure. WLFI/KQTV = spectrum bait? Link to comment Share on other sites More sharing options...
TheRolyPoly 1847 Posted June 13, 2016 Share Posted June 13, 2016 So this is Heartland Media? And very interesting. I'm surprised that they're selling KIMT and KQTV really. There was no conflicts in those markets so that surprised me. Link to comment Share on other sites More sharing options...
tyrannical bastard 3489 Posted June 13, 2016 Share Posted June 13, 2016 Aside from their required divestures of WTHI and WFFT...the list is indeed puzzling. Such small markets are virtually inconsequential in terms of reach. They must have cost more than they bring in....and if Nexstar is ditching them, how could they be run any cheaper? And poor KIMT...dumped AGAIN. They were ditched the first time to cough up a down payment for the NBC O&Os in 2006, only to be sold to New Vision who merged with Lin...who merged back into MG. Link to comment Share on other sites More sharing options...
Eat News 4738 Posted June 13, 2016 Share Posted June 13, 2016 ....and if Nexstar is ditching them, how could they be run any cheaper? 1 ply toilet paper. Link to comment Share on other sites More sharing options...
GoldenShine9 1509 Posted June 13, 2016 Share Posted June 13, 2016 Aside from their required divestures of WTHI and WFFT...the list is indeed puzzling. Such small markets are virtually inconsequential in terms of reach. They must have cost more than they bring in....and if Nexstar is ditching them, how could they be run any cheaper? And poor KIMT...dumped AGAIN. They were ditched the first time to cough up a down payment for the NBC O&Os in 2006, only to be sold to New Vision who merged with Lin...who merged back into MG. Except they may not be done cheaper? WFFT at least gets a non-spectrum owner, I expected that license to be coughed up. Link to comment Share on other sites More sharing options...
Wisco TV Watcher 11 Posted June 13, 2016 Share Posted June 13, 2016 Strangely enough, in Green Bay, Nexstar HAS been kind to WFRV, since it was certainly a disaster under previous owners (including CBS itself, which had no reason having an O&O in such a small market). IMHO, I would disagree. WFRV has been as much of a disaster as ever, if not even more so, with the departure of long-time personalities like Tammy Elliott (who went to WBAY), Larry McCarren (who went to WGBA and has since retired from the evening newscast), Tom Mahoney (now retired), and others, since its heyday as a CBS O&O. CBS definitely could've done more to make the station successful, but I really can't think of a way it's been better off under Nexstar ownership. Link to comment Share on other sites More sharing options...
lugnuts6 89 Posted June 13, 2016 Share Posted June 13, 2016 I wonder what MG station could be the next to be sold by Nexstar to appease the FCC.. Link to comment Share on other sites More sharing options...
Eat News 4738 Posted June 13, 2016 Share Posted June 13, 2016 How about a sacrifice to the FCC? Link to comment Share on other sites More sharing options...
NEOMatrix 1295 Posted June 14, 2016 Share Posted June 14, 2016 How about a sacrifice to the FCC? [ATTACH=full]2942[/ATTACH] If they can't get Mickey on board with buying it, then KRON goes bye-bye! Link to comment Share on other sites More sharing options...
mrschimpf 2069 Posted June 14, 2016 Share Posted June 14, 2016 IMHO, I would disagree. WFRV has been as much of a disaster as ever, if not even more so, with the departure of long-time personalities like Tammy Elliott (who went to WBAY), Larry McCarren (who went to WGBA and has since retired from the evening newscast), Tom Mahoney (now retired), and others, since its heyday as a CBS O&O. CBS definitely could've done more to make the station successful, but I really can't think of a way it's been better off under Nexstar ownership. The 'making the weekend people work both the morning and 6/10pm shows' strategy was also inexplicable and probably ruined morale more than anything, and they've absolutely cheaped out on syndicated programming with only Steve Harvey in the stable by stretching the local staff thin with over-repeating newscasts and the 9am advertorial show. And losing the official Packers deal to WGBA was absolutely disastrous since it effectively made Larry the face of the Packers with Scripps while their sports department looks like a pale imitation with the second lesser attempt at the in-season Locker Room, and their hires outside of Burke Griffin are the green types you'd see away from major sports markets who feel more comfortable talking about the WIAA and semi-pro hockey than pro football. Nexstar's stubbornness with subchannels also effectively kept a lot of great networks out of the market; thankfully Sinclair and Scripps, even with their more questionable issues let the floodgates open there when they got WLUK and WGBA/WACY (WBAY with Ion is 50/50 and I'm amazed and happy they've kept the 24/7 weather for so long). Even through multiple ownership changes, WBAY has stayed strong and only lost personalities through mostly retirements and people leaving in market boosts; they by far escaped the axe in going to Gray. Link to comment Share on other sites More sharing options...
hathawaynson2 38 Posted June 14, 2016 Share Posted June 14, 2016 If they can't get Mickey on board with buying it, then KRON goes bye-bye! Just a friendly reminder: ABC does not buy stations, period. Link to comment Share on other sites More sharing options...
news89 467 Posted June 14, 2016 Share Posted June 14, 2016 Just a friendly reminder: ABC does not buy stations, period. That is correct ABC/Disney don't buy stations, they would sale before buying. We shall see over the next few weeks if MG and Nexstar starts to see sale of anymore stations. Stayed to your Local source visit our website mgstarmatters.com for updates on our wheeling and dealing Lol. This has been a public service announcement, now back to your 24 hour news source. Link to comment Share on other sites More sharing options...
AJClementeFan69 477 Posted June 15, 2016 Share Posted June 15, 2016 IMHO, I would disagree. WFRV has been as much of a disaster as ever, if not even more so, with the departure of long-time personalities like Tammy Elliott (who went to WBAY), Larry McCarren (who went to WGBA and has since retired from the evening newscast), Tom Mahoney (now retired), and others, since its heyday as a CBS O&O. CBS definitely could've done more to make the station successful, but I really can't think of a way it's been better off under Nexstar ownership. Good point. Also...this is the station that devoted time during the evening news for an on-air proposal. Link to comment Share on other sites More sharing options...
CircleSeven 1945 Posted June 15, 2016 Share Posted June 15, 2016 Good point. Also...this is the station that devoted time during the evening news for an on-air proposal. Disgraceful. Link to comment Share on other sites More sharing options...
Breaking News 805 Posted June 16, 2016 Share Posted June 16, 2016 Perry Sook on CNBC's Mad Money and he was mad. http://www.ftvlive.com/todays-news/2016/6/16/nexstar-ceo-goes-mad Link to comment Share on other sites More sharing options...
Action Newsroom 1152 Posted June 16, 2016 Share Posted June 16, 2016 Perry Sook on CNBC's Mad Money and he was mad. http://www.ftvlive.com/todays-news/2016/6/16/nexstar-ceo-goes-mad "Difference makers"? "Mayors of the community"? What is he, the Governor of Loonitania?!? Link to comment Share on other sites More sharing options...
CircleSeven 1945 Posted June 30, 2016 Share Posted June 30, 2016 The shareholders of Nexstar and Media General have approved the deal. Also, The FCC appears to be taking a closer look at the deal. They sent this letter to Nexstar and Media General on Friday asking for more information on Nexstar's national ownership cap compliance and the public interest benefits that Nexstar and MG claim would result from the merger. Follow-Up. Nexstar has responded to the FCC's letter (which was posted last Friday (6/24)). On p. 22, it displays a national ownership chart, which displays each station pre & post transaction, and the overall calculations (with & w/o th UHF discount). They also explains in greater detail about the proposed statewide bureaus & its recent carriage agreement with subnets from Katz Media & Bounce TV. Link to comment Share on other sites More sharing options...
GoldenShine9 1509 Posted July 5, 2016 Share Posted July 5, 2016 Follow-Up. Nexstar has responded to the FCC's letter (which was posted last Friday (6/24)). On p. 22, it displays a national ownership chart, which displays each station pre & post transaction, and the overall calculations (with & w/o th UHF discount). They also explains in greater detail about the proposed statewide bureaus & its recent carriage agreement with subnets from Katz Media & Bounce TV. The capital bureau responses are interesting and actually justifiable. The only New York market that Nexstar won't be in after the deal is NYC (and they would blow through the cap instantly if they tried to acquire a station there). It does mention that despite the fact Nexstar won't be in Montgomery (the only Alabama market missing), it makes a bureau there justifiable. Attempting to acquire a station there puts them over anyway unless they sell or shut down something else. Looking at their numbers, it seems that either KQTV or WLFI does not need to be sold to stay under the cap (retaining either of them keeps them a tick under 39.0%). Even with what they have, unless they buy a super small market station (like in the bottom 15 or 20), they would go over the cap with any new acquisitions though. Link to comment Share on other sites More sharing options...
CircleSeven 1945 Posted July 11, 2016 Share Posted July 11, 2016 New divestiture. It's a breakup in New Mexico. Santa Fe's Fox station KASA 2 is being sold by Ramar Communications for $2.5M. Link to comment Share on other sites More sharing options...
broadcastfan9751 136 Posted July 11, 2016 Share Posted July 11, 2016 New divestiture. It's a breakup in New Mexico. Santa Fe's Fox station KASA 2 is being sold by Ramar Communications for $2.5M. If you look at the Multiple Ownership Showing, it says Ramar will not be acquiring the Fox affiliation and will switch KASA to Telemundo (which is currently seen on KTEL-CD). This probably means KASA's current programming will move to KRQE 13.2. Link to comment Share on other sites More sharing options...
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