The Tribune Saga, Part 3: New Sale Talks

[Guest]

This is why it wouldn't surprise me if the companies we least expected came to a deal to merge with Tribune. For me, that's either Scripps, Meredith or Graham. Any divestitures being done after the fact.

 

As someone who works for a Meredith station, I wouldn't count on them. They're still in the process of unloading Time Inc. assets. I've been told that our company buys properties that make sense in the portfolio, and they don't just jump at the chance of buying stations just to buy them. They don't want to grow unnecessarily big for the sake of growing bigger (i.e. Sinclair) they just want to buy things that make sense for the company's value.

[CLETVFan 367]

As someone who works for a Meredith station, I wouldn't count on them. They're still in the process of unloading Time Inc. assets. I've been told that our company buys properties that make sense in the portfolio, and they don't just jump at the chance of buying stations just to buy them. They don't want to grow unnecessarily big for the sake of growing bigger (i.e. Sinclair) they just want to buy things that make sense for the company's value.

 

Could Meredith go after some Tribune stations?

[ColtFromGulfcoast 709]

Could Meredith go after some Tribune stations?

 

Meredith would at least make sense for the largest three Tribune stations as well as all of the former Local TV stations, WTTV and WGNO/WNOL (and Meredith would arguably treat WGNO better than how it's treated now by Tribune). I still feel like KSWB, KTXL, WSFL and other stations would be spun off separately. And then I feel like KDAF, WDCW, WPHL and KIAH wouldn't make sense for them to keep.

 

If anyone would make sense to merge with Tribune, we're down to them and the other two companies I listed in my initial message. An argument could be made that Hearst would make sense but do they really want to make that large of a splash? They're due for a large merger, though.

[Georgie56 3307]

Could Meredith go after some Tribune stations?

 

I can see them going after the Big 3 (WPIX, KTLA, WGN).

[channel2 979]

WGN maybe. The other two not so much. Meredith is a heartland company through and through.

[dman748 1256]

Don't sleep with a dog because you might wake up with fleas.

 

Look who's back trying to buy Tribune.

 

https://nypost.com/2018/11/19/sinclair-hits-another-media-merger-dead-end/

 

Just amazing. Memo to Sinclair: it’s over. Tribune is suing you. You’re not getting any of it. Give up.

 

This soap opera needs to end. Either that or Starboard Value needs to get lost.

 

It's been 2 years that these stations - and employees - have been dealing with uncertainty, and they are still only dealing with rumors.

Honestly, this whole saga is not going to end well for Tribune (and it may take several major shareholders of Tribune taking Starboard Value to court for Tribune to go piecemeal at this point)

[NowBergen 684]

WGN maybe. The other two not so much. Meredith is a heartland company through and through.

 

Explain WFSB (Hartford) then?

[mre29 1537]

The only station I can see Meredith being definitely interested in is WHO, for the simple reason that it's located two blocks away from their corporate HQ in Des Moines.

[channel2 979]

Explain WFSB (Hartford) then?

 

I suppose that's an exception.

 

The only station I can see Meredith being definitely interested in is WHO, for the simple reason that it's located two blocks away from their corporate HQ in Des Moines.

 

It's proven elusive for them...maybe this time they'll get it?

[ColtFromGulfcoast 709]

The only station I can see Meredith being definitely interested in is WHO, for the simple reason that it's located two blocks away from their corporate HQ in Des Moines.

 

It's proven elusive for them...maybe this time they'll get it?

 

I can't help but wonder why they didn't attempt to go after KDSM when Sinclair was trying to sell that off to buy WHO.

[TexasTVNews 1377]

I just don't understand why Tegna Media wont buy KDAF and KIAH from Tribune and create a duopoly for WFAA and KHOU. Matter a fact, I don't

see Tegna buying Tribune stations.

[dman748 1256]

I just don't understand why Tegna Media wont buy KDAF and KIAH from Tribune and create a duopoly for WFAA and KHOU. Matter a fact, I don't

see Tegna buying Tribune stations.

They had their chance and blew it, although I don't blame it on TEGNA for not getting KDAF/KIAH, I blame it on Sinclair for their insistence on keeping KDAF and KIAH, and in particular, Sinclair shelling KDAF to a shell corporation.

[ColtFromGulfcoast 709]

I just don't understand why Tegna Media wont buy KDAF and KIAH from Tribune and create a duopoly for WFAA and KHOU. Matter a fact, I don't

see Tegna buying Tribune stations.

 

Who says it has to be Tegna? There is a comapny based in Dallas that's more appropriate for those two than Tegna is.

[TexasTVNews 1377]

Who says it has to be Tegna? There is a comapny based in Dallas that's more appropriate for those two than Tegna is.

 

Let me guess... Nexstar.

[ColtFromGulfcoast 709]

Let me guess... Nexstar.

 

Yes.

[ColtFromGulfcoast 709]

Explain WFSB (Hartford) then?

 

Hence a possible secondary reason why Meredith would want WPIX. The would be synergy with WFSB and WGGB.

[channel2 979]

Meredith really doesn't strike me as a big spender. The only stations that jump out at me as candidates to be added to their portfolio are WHO, WGN (if it's not too expensive), and WJW. Maybe KCPQ-KZJO and KFOR-KAUT too?

[ColtFromGulfcoast 709]

Meredith really doesn't strike me as a big spender. The only stations that jump out at me as candidates to be added to their portfolio are WHO, WGN (if it's not too expensive), and WJW. Maybe KCPQ-KZJO and KFOR-KAUT too?

 

I'd take out WJW and put in WTTV. And add KFSM and WQAD at least. I could see them getting more than that, though.

 

KCPQ, I wouldn't hold my breath.

[H4UL4U 127]

As someone who works for a Meredith station, I wouldn't count on them. They're still in the process of unloading Time Inc. assets. I've been told that our company buys properties that make sense in the portfolio, and they don't just jump at the chance of buying stations just to buy them. They don't want to grow unnecessarily big for the sake of growing bigger (i.e. Sinclair) they just want to buy things that make sense for the company's value.

That's the way a good company should be run. Only do M&A when it fits the company portfolio. I don't know too much about how well Meredith invests in the stakeholders of their markets. I've heard both good and bad about them.

 

Sorry to drift away from Tribune, but the point had to be made.

[channel2 979]

I'd take out WJW and put in WTTV. And add KFSM and WQAD at least. I could see them getting more than that, though.

 

KCPQ, I wouldn't hold my breath.

 

I thought WJW would be a good fit - historically-dominant, Fox-affiliated...KCPQ would make sense geographically, and loop back to them for keeps. I think they might also prefer WXIN given its higher ratings.

 

KFSM and WQAD also seem like their kind of stations.

 

That's the way a good company should be run. Only do M&A when it fits the company portfolio. I don't know too much about how well Meredith invests in the stakeholders of their markets. I've heard both good and bad about them.

 

Sorry to drift away from Tribune, but the point had to be made.

 

Meredith seems to be a pretty inconsistent group. You have solid operations like KCTV and messes like WGCL. WSMV seems to have fallen apart of late.

[dman748 1256]

Meredith seems to be a pretty inconsistent group. You have solid operations like KCTV and messes like WGCL. WSMV seems to have fallen apart of late.

Then my question becomes if Meredith decides to buy a station like WGNO that is just as big of a mess as what WGCL is, can they fix the mess at WGNO that Tribune created?

[ColtFromGulfcoast 709]

Then my question becomes if Meredith decides to buy a station like WGNO that is just as big of a mess as what WGCL is, can they fix the mess at WGNO that Tribune created?

 

If they do, and I do have faith that they can do it, it wouldn't be the first time they've improved a station Tribune previously owned. It took Tegnaitis in that market for it to happen but they did it.

[dman748 1256]

If they do, and I do have faith that they can do it, it wouldn't be the first time they've improved a station Tribune previously owned. It took Tegnaitis in that market for it to happen but they did it.

Based upon what Meredith has done to stations like WGCL and a few others, I'm not sure if Meredith would be an improvement for WGNO regardless if WWL has the "TEGNAitis" or not

[Guest]

Could Meredith go after some Tribune stations?

 

Doubtful. See my previous post about unloading publishing assets.

 

Meredith would at least make sense for the largest three Tribune stations as well as all of the former Local TV stations, WTTV and WGNO/WNOL (and Meredith would arguably treat WGNO better than how it's treated now by Tribune). I still feel like KSWB, KTXL, WSFL and other stations would be spun off separately. And then I feel like KDAF, WDCW, WPHL and KIAH wouldn't make sense for them to keep.

 

If anyone would make sense to merge with Tribune, we're down to them and the other two companies I listed in my initial message. An argument could be made that Hearst would make sense but do they really want to make that large of a splash? They're due for a large merger, though.

 

I can see them going after the Big 3 (WPIX, KTLA, WGN).

 

WGN maybe. The other two not so much. Meredith is a heartland company through and through.

 

Explain WFSB (Hartford) then?

 

The only station I can see Meredith being definitely interested in is WHO, for the simple reason that it's located two blocks away from their corporate HQ in Des Moines.

 

I suppose that's an exception.

 

 

 

It's proven elusive for them...maybe this time they'll get it?

 

I can't help but wonder why they didn't attempt to go after KDSM when Sinclair was trying to sell that off to buy WHO.

 

Meredith really doesn't strike me as a big spender. The only stations that jump out at me as candidates to be added to their portfolio are WHO, WGN (if it's not too expensive), and WJW. Maybe KCPQ-KZJO and KFOR-KAUT too?

 

THIS. Meredith does not spend for the sake of spending, they are very selective on how they spend their money.

 

That's the way a good company should be run. Only do M&A when it fits the company portfolio. I don't know too much about how well Meredith invests in the stakeholders of their markets. I've heard both good and bad about them.

 

Sorry to drift away from Tribune, but the point had to be made.

 

Meredith will spend if there is a necessity for spending in order to make money. See WGCL's constant changes.

 

Then my question becomes if Meredith decides to buy a station like WGNO that is just as big of a mess as what WGCL is, can they fix the mess at WGNO that Tribune created?

 

Lest you forget WGCL (as WGNX) was owned by Tribune.

 

If they do, and I do have faith that they can do it, it wouldn't be the first time they've improved a station Tribune previously owned. It took Tegnaitis in that market for it to happen but they did it.

 

Based upon what Meredith has done to stations like WGCL and a few others, I'm not sure if Meredith would be an improvement for WGNO regardless if WWL has the "TEGNAitis" or not

 

Highly doubtful. WGNO is a train wreck that can't be fixed.

[Guest]

Meredith seems to be a pretty inconsistent group. You have solid operations like KCTV and messes like WGCL. WSMV seems to have fallen apart of late.

 

THIS hits the nail on the head. It's largely how the stations are run on the local level that is the reason some stations do better than others. Corporate just writes the checks.

 

Meredith is inconsistent, but mostly in their buying of properties. They bought KTVK and KMOV when Belo went belly up. It's not far fetched to think of them as a buyer, but I wouldn't count on them to buy the whole portfolio or even count them legitimately buying anything. They'll make a move when they feel it's time, but they don't rush into anything so as to help their bottom line. See Meredith Media General.