GoldenShine9 1509 Posted October 17, 2017 Share Posted October 17, 2017 https://www.bloomberg.com/news/articles/2017-10-17/sinclair-is-said-to-seek-tv-station-sales-worth-up-to-1-billion Buyers have been found - but not identified - for 10 stations. (I'm not going to speculate, this isn't the place to do so). Link to comment Share on other sites More sharing options...
TSSZNews 1046 Posted October 18, 2017 Share Posted October 18, 2017 A billion dollars? For 10 TV properties? I mean, at least one, if not a couple have to be in the top 10, right? This was way, way back, but the only station they really needed to sell to clear the limit was WPHL—but unless FOX is getting fleeced there’s no way that’s taking up a bulk of the asking price...is it? Only other way that number makes sense if it Sinclair is giving FOX the KCPQ duop too... Link to comment Share on other sites More sharing options...
TennTV1983 743 Posted October 18, 2017 Share Posted October 18, 2017 This was way, way back, but the only station they really needed to sell to clear the limit was WPHL—but unless FOX is getting fleeced there’s no way that’s taking up a bulk of the asking price...is it? Only other way that number makes sense if it Sinclair is giving FOX the KCPQ duop too... Whatever it takes to make Fox happy, it seems an all but foregone conclusion they might be willing to sell KCPQ and KZJO(?) in addition to WPHL. I'll put the rest of my thoughts over in the Speculation board so this thread doesn't get derailed again. Link to comment Share on other sites More sharing options...
Rusty Muck 4167 Posted October 18, 2017 Share Posted October 18, 2017 What stations are they selling? Their own? Tribune stations? A mix of the two? And how do we know that the buyer isn’t Cunningham and Howard Stirik? They aren’t telling, and we know why. It’s more of the same obfuscation from a group that is deliberately refusing to conduct business in good faith because the deal is going to go through due to political favoritism. Link to comment Share on other sites More sharing options...
Rusty Muck 4167 Posted October 18, 2017 Share Posted October 18, 2017 https://www.bloomberg.com/news/articles/2017-10-17/sinclair-is-said-to-seek-tv-station-sales-worth-up-to-1-billion Buyers have been found - but not identified - for 10 stations. (I'm not going to speculate, this isn't the place to do so). One thing buried at the end of that piece you may not have noticed. Since the merger was announced, Sinclair’s stock has fallen by 17%. Sorry, but 17% is a pretty big drop. Link to comment Share on other sites More sharing options...
MetroCity 247 Posted October 18, 2017 Share Posted October 18, 2017 Is the stockholder vote still scheduled for October 19th? And, since the price is cash plus stock, could Sinclair's falling stock price reduce the payout enough for stockholders to reject the deal? Not speculation. Just wondering if that has affected other mergers in the past. Link to comment Share on other sites More sharing options...
Samantha 2878 Posted October 18, 2017 Share Posted October 18, 2017 Is the stockholder vote still scheduled for October 19th? And, since the price is cash plus stock, could Sinclair's falling stock price reduce the payout enough for stockholders to reject the deal? Not speculation. Just wondering if that has affected other mergers in the past. Enough of SBGI stock is held by the Smith family to make that a moot point. Here's a relevant extract from a Moody's rating of some of Sinclair's senior notes last year: "Members of the Smith family exercise control over most corporate matters given they represent four of the eight board seats and, through Sinclair's dual class share structure, the Smith family controls approximately 76% of voting rights." Link to comment Share on other sites More sharing options...
Rusty Muck 4167 Posted October 18, 2017 Share Posted October 18, 2017 Enough of SBGI stock is held by the Smith family to make that a moot point. Here's a relevant extract from a Moody's rating of some of Sinclair's senior notes last year: "Members of the Smith family exercise control over most corporate matters given they represent four of the eight board seats and, through Sinclair's dual class share structure, the Smith family controls approximately 76% of voting rights." I think the question was being posed WRT to Tribune shareholders, but they've already been screwed over multiple times on this deal that they wouldn't put up any real resistance to this. The Smith family may want to take a good long look at what happened to Lew and John Dickey when Cumulus' stock price imploded. Of course they won't. But they should. Link to comment Share on other sites More sharing options...
CircleSeven 1944 Posted October 18, 2017 Share Posted October 18, 2017 So the FCC has stopped its shot-clock of the Sinclair-Tribune deal for about two weeks (until 11/2) so they can take time for the public to provide further comment after Sinclair latest response to the agency earlier this month. Meanwhile, the Chicago Tribune stated that Tribune shareholders will vote on the deal in a special meeting in LA tomorrow morning. Link to comment Share on other sites More sharing options...
atlnews2 557 Posted October 19, 2017 Share Posted October 19, 2017 looks like the union is willing to go all out to stop the deal http://www.politico.com/story/2017/10/19/sinclair-unions-congress-lobbying-243926?lo=ap_e1 Link to comment Share on other sites More sharing options...
TheRob 920 Posted October 19, 2017 Share Posted October 19, 2017 Yes, the shareholders voted today, with 99% in favor of the sale... like anyone was going to turn down a premium on the company's current stock price. Link to comment Share on other sites More sharing options...
plnewsfan 9 Posted October 19, 2017 Share Posted October 19, 2017 And the share price of Sinclair at the NYSE after the shareholders vote is down at -1.2%. Link to comment Share on other sites More sharing options...
MidwestTV 1173 Posted October 20, 2017 Author Share Posted October 20, 2017 And the share price of Sinclair at the NYSE after the shareholders vote is down at -1.2%. Markets on a whole didn't do too well today. This is likely a coincidence. Link to comment Share on other sites More sharing options...
CircleSeven 1944 Posted October 20, 2017 Share Posted October 20, 2017 looks like the union is willing to go all out to stop the deal http://www.politico.com/story/2017/10/19/sinclair-unions-congress-lobbying-243926?lo=ap_e1 That's not all. The Coalition has cranked up the noise by launching a new ad campaign. Video Courtesy of the Coalition to Save Local Media. This ad campaign will be airing on national outlets for three weeks. Link to comment Share on other sites More sharing options...
CalItalian2 163 Posted October 20, 2017 Share Posted October 20, 2017 Can't wait for Sinclair to take over Tribune! No more KTLA liking Hillary Clinton Tweets that are anti-Trump. No more KTLA pawning off sponsored vignettes on both Facebook and on-air of portrayals of Democrats that are not news stories. No more of KTLA's slanted illegal immigration reporting. Link to comment Share on other sites More sharing options...
hmaxhanson 650 Posted October 20, 2017 Share Posted October 20, 2017 Can't wait for Sinclair to take over Tribune! No more KTLA liking Hillary Clinton Tweets that are anti-Trump. No more KTLA pawning off sponsored vignettes on both Facebook and on-air of portrayals of Democrats that are not news stories. No more of KTLA's slanted illegal immigration reporting. Are you a Sinclair employee in disguise? Because you sure sound like one. Link to comment Share on other sites More sharing options...
Surplus Engineer 38 Posted October 20, 2017 Share Posted October 20, 2017 A billion dollars? For 10 TV properties? I mean, at least one, if not a couple have to be in the top 10, right? This was way, way back, but the only station they really needed to sell to clear the limit was WPHL—but unless FOX is getting fleeced there’s no way that’s taking up a bulk of the asking price...is it? Only other way that number makes sense if it Sinclair is giving FOX the KCPQ duop too... The article said 10 markets, not 10 stations. Link to comment Share on other sites More sharing options...
Rusty Muck 4167 Posted October 20, 2017 Share Posted October 20, 2017 Markets on a whole didn't do too well today. This is likely a coincidence. There has been no significant upward tick for Sinclair stock since the merger was announced. This is simply a continuation of a long-running trend. Link to comment Share on other sites More sharing options...
Georgie56 3066 Posted October 23, 2017 Share Posted October 23, 2017 Dick Durbin wrote an op-ed against the merger. WARNING: Paywall ahead. Link to comment Share on other sites More sharing options...
Breaking News 802 Posted October 23, 2017 Share Posted October 23, 2017 Here another article from motherjones.com and I posted this under corporate chat. http://www.motherjones.com/politics/2017/10/ready-for-trump-tv-inside-sinclair-broadcastings-plot-to-take-over-your-local-news/ Link to comment Share on other sites More sharing options...
TexasTVNews 1366 Posted October 24, 2017 Share Posted October 24, 2017 https://www.ftvlive.com/sqsp-test/2017/10/24/is-sinclair-planning-to-hub-texas-newscasts Link to comment Share on other sites More sharing options...
TSSZNews 1046 Posted October 24, 2017 Share Posted October 24, 2017 https://www.ftvlive.com/sqsp-test/2017/10/24/is-sinclair-planning-to-hub-texas-newscasts If anything’s going to derail the Sinclair/Trib deal, it’s THIS: Sources tell FTVLive that Sinclair is looking to build a hub facility in San Antonio that will be where the company will produce and anchor newscasts for Sinclair's smaller Texas markets. Word is that the newscasts for the Sinclair stations in El Paso, Brownsville, Corpus Christi, etc. will be produced and anchored from the facility near San Antonio. It’s one thing to hub a show that was already LMAed like WOLF or a bottom-dweller like WNWO—it’s quite another to do this to a lot of markets where the affected stations are competitive. EDIT: And now we know why this can go forward: The Main Studio Rule just got axed: http://www.tvnewscheck.com/index/article/id/108343 Link to comment Share on other sites More sharing options...
Greggo 340 Posted October 24, 2017 Share Posted October 24, 2017 The Corpus Christi station (KUQI/Fox) doesn't have its own news operation (and never did ... just reran the 9p news from KRIV/Houston for a time) so no one would be displaced there and the market would get a new source for local news. The Brownsville station (KGBT/CBS) just let several anchors go, which makes this concept seem not that hard to believe for that market. But ... Sinclair spent a lot of money in El Paso, including moving to a new building. Not sure I see it happening there. In San Antonio, they've already got relatively new news studios and control rooms for WOAI/NBC and KABB/Fox in the same building. Not really sure they would need to create a whole new studio/control room/etc. Link to comment Share on other sites More sharing options...
Rusty Muck 4167 Posted October 24, 2017 Share Posted October 24, 2017 Eliminating the main studio rule won't derail a thing. It was a strict 3-2 party line vote, and the Tribune takeover will be an automatic 3-2 party line vote whenever it happens. The odds of Sinclair getting everything they want are still an absolute certainty. Link to comment Share on other sites More sharing options...
GoldenShine9 1509 Posted October 24, 2017 Share Posted October 24, 2017 The Corpus Christi station (KUQI/Fox) doesn't have its own news operation (and never did ... just reran the 9p news from KRIV/Houston for a time) so no one would be displaced there and the market would get a new source for local news. The Brownsville station (KGBT/CBS) just let several anchors go, which makes this concept seem not that hard to believe for that market. But ... Sinclair spent a lot of money in El Paso, including moving to a new building. Not sure I see it happening there. In San Antonio, they've already got relatively new news studios and control rooms for WOAI/NBC and KABB/Fox in the same building. Not really sure they would need to create a whole new studio/control room/etc. That will be a huge boon for KRGV (which is already dominant), as well as the Tegna cluster to a lesser extent. In El Paso, KVIA is the market leader? Link to comment Share on other sites More sharing options...
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