Cox sells majority TV interest to Apollo

[scrabbleship 429]

2 hours ago, CircleSeven said:

The Deal is now on the Docket!

 

FCC Docket No. 19-98

 

Anyone who wants to file a Petition of Deny, you'll have until May 10 to file.

 

Oppositions of those deny petitions, those are due May 28,

 

And for replies, those are due June 4.

 

 

  

How do I succinctly and efficiently state "this deal is going to be a unmitigated disaster for all parties involved"?

2 hours ago, CircleSeven said:

The Deal is now on the Docket!

 

FCC Docket No. 19-98

 

Anyone who wants to file a Petition of Deny, you'll have until May 10 to file.

 

Oppositions of those deny petitions, those are due May 28,

 

And for replies, those are due June 4.

 

 

  

How do I succinctly and efficiently state "this deal is going to be a unmitigated disaster for all parties involved"?

[TheOneManHerd 553]

20 minutes ago, scrabbleship said:

  

How do I succinctly and efficiently state "this deal is going to be a unmitigated disaster for all parties involved"?

  

How do I succinctly and efficiently state "this deal is going to be a unmitigated disaster for all parties involved"?

Look up all the ways Apollo has screwed up their other businesses (see Chuck E. Cheese used pizza).

[AmericanErrorist 148]

On 4/11/2019 at 1:32 PM, scrabbleship said:

  

How do I succinctly and efficiently state "this deal is going to be a unmitigated disaster for all parties involved"?

 

When writing to the FCC, you have to note objections in terms of the Public Interest. It is unclear that the business failures by themselves are harmful to the public interest, but it could certainly spinned that way. I'm more concerned about the degree of consolidation involved/potential job cuts whether than if Apollo can actually make money off of the stations.

[CircleSeven 1955]

From B&C tonight, Common Cause has filed a petition of deny over this deal. They say as their cutting to the bear-bone tactics (private-equity firms are known to do) is not in the public interest.

 

Former FCC Commissioner & leader of the advocacy group Michael Copps stated this: 

Quote

"History has shown that the quality of our news and information has significantly diminished under private equity control. These firms typically implement cost cutting strategies that bleed newspapers dry, leading to reporter layoffs and consolidated newsrooms," said Copps. "The profits generated from cutting costs are not invested into improving the news but rather to pay off loans and manage debt. Apollo’s entry into the broadcast market invites serious skepticism that it would benefit localism and viewpoint diversity instead of following the traditional model of laying off reporters and consolidating newsrooms."

 

American TV Alliance also wrote an objection (but not a deny petition) addressing the multiple big-4 network affiliated stations in the NBI's markets (Mississippi Delta, Eureka & Yuma) and a potential for Apollo to use that as leverage to raise prices in retrans.

 

[GoldenShine9 1513]

15 minutes ago, CircleSeven said:

From B&C tonight, Common Cause has filed a petition of deny over this deal. They say as their cutting to the bear-bone tactics (private-equity firms are known to do) is not in the public interest.

 

Former FCC Commissioner & leader of the advocacy group Michael Copps stated this: 

 

American TV Alliance also wrote an objection (but not a deny petition) addressing the multiple big-4 network affiliated stations in the NBI's markets (Mississippi Delta, Eureka & Yuma) and a potential for Apollo to use that as leverage to raise prices in retrans.

 

 

Would they rather have someone like Sinclair buy them? 

[TexasTVNews 1377]

21 minutes ago, GoldenShine9 said:

 

Would they rather have someone like Sinclair buy them? 

 

It's not just a no, it a... OH, HELL NO!

[GoldenShine9 1513]

Just now, TexasTVNews said:

 

It's not just a no, it a... OH, HELL NO!

 

Exactly! I don't know why they are complaining so loud. It's not like the situation would be any different if someone like Scripps or Tegna was successful buying Cox either.

[TexasTVNews 1377]

5 hours ago, GoldenShine9 said:

 

Exactly! I don't know why they are complaining so loud. It's not like the situation would be any different if someone like Scripps or Tegna was successful buying Cox either.

 

Or Gray, Heartland Media. IMO, Capitol and Dispatch needs to start buy stations and expand, otherwise... their the bait.

[Breaking News 829]

2 hours ago, TexasTVNews said:

 

Or Gray, Heartland Media. IMO, Capitol and Dispatch needs to start buy stations and expand, otherwise... their the bait.

Dispatch will do no such a thing. They will continue putting on their band-aid until they run out. The family sold The Newspaper (Dispatch) they once had their hands years ago into a Bank.  I heard they low key have some reality land.

So it all a matter of time once they all go belly-up.  What about Hubbard's or The Wray Family in Shreveport? However, you're talking about a family legacy where some will fight to the end of the death.

[tyrannical bastard 3951]

15 hours ago, Breaking News said:

Dispatch will do no such a thing. They will continue putting on their band-aid until they run out. The family sold The Newspaper (Dispatch) they once had their hands years ago into a Bank.  I heard they low key have some reality land.

So it all a matter of time once they all go belly-up.  What about Hubbard's or The Wray Family in Shreveport? However, you're talking about a family legacy where some will fight to the end of the death.

 

If I had to choose a family operation that will outlast them all, it would probably be Maag family that owns The Youngstown Vindicator and WFMJ. 

Even on the newspaper side, they re-formatted their paper size LONG after other newspapers did earlier in the 1990s and 2000s.  IIRC, their presses were ancient and had to be replaced in the late 2000s, which finally forced them to change.

 

In a place like Youngstown that has seen corruption, massive job losses and consolidation (especially with WKBN/WYTV), a company that keeps going like Vindicator is going to be a tough nut to crack.  Their size and scope would make it a risky investment for anyone outside the Mahoning Valley, so they've sort of put themselves in a place of comfort where no owner or equity firm would touch them.

[news89 468]

40 minutes ago, tyrannical bastard said:

 

If I had to choose a family operation that will outlast them all, it would probably be Maag family that owns The Youngstown Vindicator and WFMJ. 

Even on the newspaper side, they re-formatted their paper size LONG after other newspapers did earlier in the 1990s and 2000s.  IIRC, their presses were ancient and had to be replaced in the late 2000s, which finally forced them to change.

 

In a place like Youngstown that has seen corruption, massive job losses and consolidation (especially with WKBN/WYTV), a company that keeps going like Vindicator is going to be a tough nut to crack.  Their size and scope would make it a risky investment for anyone outside the Mahoning Valley, so they've sort of put themselves in a place of comfort where no owner or equity firm would touch them.

I agree Today's WFMJ and Vindy local ownership will be around for awhile. That is why they are locally owned, locally connected. 

[Megatron81 258]

These groups are just no to any company buying TV stations so it doesn't surprise me that they want The FCC & DOJ to deny the merger which is slim and none. 

[CaPa 14]

And... the Cox radio stations are also going to Apollo/Terrier, which will now retain the Cox Media Group name:

 

https://www.allaccess.com/net-news/archive/story/187463/cox-media-group-sells-its-radio-stations-to-apollo

 

Started a thread in Radio Broadcasting forum for this, so go there for radio discussion:

 

[GoldenShine9 1513]

So, the effective result is that Cox is buying Northwest.

[TexasTVNews 1377]

So, is Apollo/Terrier keeping the Cox Media Group name for its TV stations?

[mre29 1519]

31 minutes ago, TexasTVNews said:

So, is Apollo/Terrier keeping the Cox Media Group name for its TV stations?

 

That's what the article says.

 

[TheRolyPoly 2415]

All this is, is....

 

Cox Enterprises' Cox Media Group -> Apollo's Cox Media Group

 

That's it.

[ttvn2000 320]

On 5/14/2019 at 9:55 PM, tyrannical bastard said:

If I had to choose a family operation that will outlast them all, it would probably be Maag family that owns The Youngstown Vindicator and WFMJ. 

Even on the newspaper side, they re-formatted their paper size LONG after other newspapers did earlier in the 1990s and 2000s.  IIRC, their presses were ancient and had to be replaced in the late 2000s, which finally forced them to change.

 

With this in mind comes quite the shocker:

http://www.wfmj.com/story/40723209/vindicator-announces-it-will-stop-production

[tyrannical bastard 3951]

General manager Mike Brown said...

"We have no plans, no intentions, no desire, no thoughts and no interest in selling WFMJ. Period."

 

We shall see...

 

It's sad they opted to shut it down instead of selling to another party.  

[Greggo 354]

9 minutes ago, tyrannical bastard said:

General manager Mike Brown said...

"We have no plans, no intentions, no desire, no thoughts and no interest in selling WFMJ. Period."

 

We shall see...

 

It's sad they opted to shut it down instead of selling to another party.  

They claim no one was interested in buying the paper, which I find hard to believe. Plenty of other family-owned papers have been sold in recent years. Some to big chains, some to other locals. My hunch is they were sick of dealing with the paper — the industry is in major decline — and didn’t want to sell it to another company that would then be competing against their precious WFMJ for ad dollars. 

[TheRolyPoly 2415]

7 hours ago, ttvn2000 said:

 

With this in mind comes quite the shocker:

http://www.wfmj.com/story/40723209/vindicator-announces-it-will-stop-production

 

A city with no major daily newspaper? Wow.

[TheOneManHerd 553]

Good news: Kim Guthrie will remain as the head of the new Apollo-controlled Cox Media Group. It’s a good sign that the Cox way of doing things may survive for a little while longer.

 

https://tvnewscheck.com/article/top-news/237401/guthrie-to-stay-on-as-ceo-of-apollo-cox/

[TheRolyPoly 2415]

1 hour ago, TheOneManHerd said:

Good news: Kim Guthrie will remain as the head of the new Apollo-controlled Cox Media Group. It’s a good sign that the Cox way of doing things may survive for a little while longer.

 

https://tvnewscheck.com/article/top-news/237401/guthrie-to-stay-on-as-ceo-of-apollo-cox/

 

You beat me! Lmao. But it is a positive sign.

 

It may mean that this Apollo/Cox merger may not be as bad as we first though. Keeping the CMG name, keeping the HQ in Atlanta, keeping their CEO, etc.

 

Yeah. Plus, they're adding stations which badly need makeovers (Northwest Broadcasting). I feel good.

[JCB4TV 347]

7 hours ago, TheRolyPoly said:

 

You beat me! Lmao. But it is a positive sign.

 

It may mean that this Apollo/Cox merger may not be as bad as we first though. Keeping the CMG name, keeping the HQ in Atlanta, keeping their CEO, etc.

 

Yeah. Plus, they're adding stations which badly need makeovers (Northwest Broadcasting). I feel good.

The NWB stations need complete makeovers. We've seen their websites, they're crap, and they say that it's "News That Works for You." Moreover, this is probably NWB's only ticket back onto AT&T's platforms.

[CircleSeven 1955]

There's a big amendment regarding this deal tonight.

 

I'm going to drop the big news first. Because of that Third Circuit ruling vacating Pai's dereg rule last month, Cox/Apollo now proposed to surrender the license of the second station in Syracuse (WSYT/WNYS) and Yuma (KYMA/KSWT), and move the programming of the second station over to the sub of the first station. 

 

Quote

Third, the parties recognize that multiple ownership rules and policies may not permit Terrier to own duopolies in the Syracuse, NY and Yuma, AZ-El Centro, CA DMAs. Thus, as necessary, Terrier and Northwest have agreed to modify the Northwest Transaction so that Terrier will acquire only one full-power broadcast television station in each of these two DMAs (each, an “Acquired Station” and collectively, the “Acquired Stations”). Following the restructuring of the Northwest Transactions, at closing, Northwest will surrender the licenses for its stations in Syracuse and Yuma that are not acquired by Terrier (each, a “Surrendered License and collectively, the “Surrendered Licenses”). Under this restructuring, immediately prior to closing, Northwest will transfer all of the programming of the station associated with the Surrendered License in Syracuse to the Acquired Station in Syracuse and all of the programming of the station associated with the Surrendered License in Yuma to the Acquired Station in Yuma, such that all of the programming currently broadcast on each of the stations associated with the Surrendered Licenses will be carried on the primary and multicast channels of the corresponding Acquired Stations.

 

Now that's completely understandable for Syracuse because both stations don't carry any news. Kill WNYS's stick, move MyNet to 68.2, Done. But for Yuma, I guess you can do the same there. But I'm surprised that they didn't try to go for a failed station waiver. That's how Northwest acquired KSWT. Unless both stations aren't deemed failed? I thought Yuma was economically challenged.

 

The other part of the amendment is in regards to the common ownership of the broadcast and the newspapers in Dayton. The parties proposed to publish the papers three times a week. But give Cox (which will have a 19.9% non-attributable minority interest in Apollo's Cox Media Group at closing) the option to reaquire the papers outright, and restore them back to seven-day publication. But they first would have to find a way to separate the paper operations from the rest of the media ops in Dayton. Because you know, they have WHIO radio and Channel 7 in that same building.