Nexstar to acquire Tribune

[IndoTVNewsFan 90]

I think now we know TWO of the buyers...
https://www.tegna.com/tegna-to-acquire-11-local-television-stations-in-eight-markets/
http://scripps.com/press-releases/1232-scripps-to-acquire-eight-television-stations-from-nexstar-tribune-merger-divestitures

[channel2 982]

WNEP is getting Borged, aren't they?

[TSSZNews 1052]

Forget WNEP - $75 million seems EXTRAORDINARILY low for a station in the #1 DMA, even if it’s ranked 5th in the market.

[channel2 982]

The Scripps link wasn't there when I made my post!

 

Selling WPIX off is foolish and I think the buyback option is an acknowledgement of that. Really not sure what the hell Scripps is gonna do with WSFL, given how little Tribune seems to care for it.

[TheRob 940]

I recall Sinclair thought it could divest WPIX for $15 million. I wonder what the stipulations of the buyback option would be between Scripps and Nexstar.

 

For a few of those smaller stations, Tegna will be an upgrade.

[CircleSeven 1962]

WNEP going to the Deathstar? That's one real headscratcher there.

 

The only conflict in-market that hasn't been mentioned is Indianapolis. It'll be interesting who will acquire the spun-off property there. There were reports that Nexstar wants to keep WXIN/WTTV if they're allowed to by the new top-4 rule.

 

You better hope they don't play the shell card there.

 

 

[NowBergen 707]

1 hour ago, channel2 said:

The Scripps link wasn't there when I made my post!

 

Selling WPIX off is foolish and I think the buyback option is an acknowledgement of that. Really not sure what the hell Scripps is gonna do with WSFL, given how little Tribune seems to care for it.

 

Considering a very defined time period for a potential buy back, it is clearly dependent on the FCC significantly modifying ownership caps.  With all the consolidation that has occurred, from a. consumer and legislative perspective that may be a major hurdle.  Scripps is a far better option than either Sinclair or Nexstar.  What is surprising, is the new Apollo/Cox combination, was not in the mix.  Perhaps they were too late to the party.

[MyNewsArchive 197]

Oh God, it's going to happen... (cool mock btw)

 

 

[scrabbleship 429]

 

1 hour ago, channel2 said:

The Scripps link wasn't there when I made my post!

 

Selling WPIX off is foolish and I think the buyback option is an acknowledgement of that. Really not sure what the hell Scripps is gonna do with WSFL, given how little Tribune seems to care for it.

 

Probably try to run it out of WPTV or just hold onto it to eventually swap for something else. 

 

19 minutes ago, NowBergen said:

 

Considering a very defined time period for a potential buy back, it is clearly dependent on the FCC significantly modifying ownership caps.  With all the consolidation that has occurred, from a. consumer and legislative perspective that may be a major hurdle.  Scripps is a far better option than either Sinclair or Nexstar.  What is surprising, is the new Apollo/Cox combination, was not in the mix.  Perhaps they were too late to the party.

 

Terrier is screwed. I'm getting same vibe I got from Four Points or Newport or Local TV. There is nothing realistic to take anymore.

As I said, if I'm Tegna I'm looking long and hard at WFXT right now. It's their only real path to any sort of expansion in New England short buying Hearst or hoping that Citadel gives up the ghost. It would be an improvement over the status quo and since Terrier lost their one path for anything in the Northeast short maybe Hubbard it's the right thing to do.

 

Heck, have one buy 25 and the other buy Hearst. WCVB and WMUR can take care of themselves and Tegna/Scripps would be an improvement over the status quo in not-yet-HD Burlington and who-knows-when-they'll-go-HD Portland.

 

WCVB is a strong station. If they can survive A Package they can survive C Clarity or Inergy. #Jealous #TerrierIsAWasteOfTime #FAnsin

[Georgie56 3333]

3 hours ago, channel2 said:

The Scripps link wasn't there when I made my post!

 

Selling WPIX off is foolish and I think the buyback option is an acknowledgement of that. Really not sure what the hell Scripps is gonna do with WSFL, given how little Tribune seems to care for it.

 

I would think WPTV an hour or two up the road would produce newscasts for them.

 

I think Scripps is a good fit for WPIX. I agree that there is bad optics on Nexstar’s part for selling WPIX, seeing that they have much of New York state covered.

[tyrannical bastard 4055]

Cap space is why Nexstar dumped WPIX on Scripps.   It gives them 6 percent of reach they desperately need for the Tribune deal, all while giving that 6 percent to a company like Scripps that can dramatically increase their total reach by doing so.  Since it's a true VHF station, no discount applies.  We may have another KRON-like station coming, but at least it could be temporary should the rules change.  

 

Otherwise, the moves are good for Scripps, giving KNXV a duopoly partner and getting some decent Tribune stations in the process.

 

Tegna on the other hand, what the actual what?  WNEP is the prize, but they're totally going to trash that station.  Might as well load up the "death cue" of Cliff Schwartz's package (if there even is one).

 

I have to feel sorry for WATN and WLMT as well, their sale was a forgone conclusion because it was clear that Nexstar was going to jump on getting the #1 station, but Nexstar at least was responsible for guiding a new path for them after all of the years of failure as WPTY, and whatever Newport did to them prior to their sale.... It would have been interesting if Scripps got them seeing as how they founded WMC and later sold then to Ellis (and can now own them since the Commercial-Appeal is now under Gannett since Scripps dumped their papers on Journal and got their TV stations)

 

There's still some hope for Apollo/Terrier, but it will probably set the stage for a future sale.....

[GoldenShine9 1514]

I agree WPIX is a head-scratcher, but it is a cap eater. They'd have to sell a whole bunch of other stations. Except for ABC (never a buyer) all the networks have duopolies there already so they were out. But the buyback option may come into focus at the FCC...

 

For the balance of the stations, most were low-ranked stations. I'm not surprised at who was in it (I figured Gray would sit out since few stations meet their criteria, while Meredith is likely a seller and Hearst I was skeptical of involvement with). In the case of Scripps, KASW is an excellent acquisition as it forms a duopoly, while KSTU and WXMI fit their portfolio very well and WTVR and WTKR/WGNT stay together (they couldn't under Tegna). WSFL, unless it sets up a Sunbeam purchase, makes no sense though.

 

On the Tegna side, they are the one stuck with scraps for the most part, but that was unavoidable in quite a few of the markets. KFSM and WNEP were definitely the crown jewels there. I'm surprised they didn't go after the Texas duopoly partners though, that could have been an option too.

 

[Roadgeek Adam 170]

WPIX going to Scripps is probably the one I like the most. Of all the non O&Os, Scripps is in my opinion the best in terms of quality of production. WPIX should be fine under them, though the graphics package will change. 

[channel2 982]

I admit I'm resentful that Scripps allows KMGH to roll around aimlessly, yet my experiences with WXYZ show me that they can definitely put a top-notch product on the air.

[DetroitTVNews 66]

WXMI going to Scripps? I somewhat knew this would happen, they can be able to finally form an I-96 cluster along with some sort of Michigan state news service, as it'll be joining their WXYZ/WMYD duopoly in Detroit and WSYM in Lansing.

[susquvalleywgal 521]

5 hours ago, channel2 said:

WNEP is getting Borged, aren't they?

 

Congrats on the comment of the day!!!  

 

Resistance is Futile!!!

 

— Matt

[Rusty Muck 4426]

It’s not just the cap space, Nexstar needs cash flow badly so they can afford Tribune. That’s why WPIX was dealt away.

 

That’s also why Fox dropping out as a buyer actually does hurt Nexstar. Nexstar’s uneven relationship with the network aside, a replication of the seven station divestment deal Sinclair tried with Fox would have been around the $1B range and eased up on the cap space simultaneously. (Note that these deals with Scripps and Tegna whittle down approximately $1.3B of the proposed $4B price tag.)

[tw-804 194]

Whoa! WTVR and WTKR/WGNT to the Lighthouse. First time in Virginia for Scripps. I can see the current graphics now (hopefully, they keep their current logos) and Stephen Arnold's Inergy music package. Will we see The Now: RVA (nickname for Richmond) and The Now: Hampton Roads soon? WTVR's rival WWBT currently use the NBC version of Inergy since 2014. But after switching to another Arnold package (The Rock) in 2015, Inergy currently survives on investigative and sports segments.  Time for WWBT to drop Inergy. Good luck with WTVR and WTKR/WGNT, Scripps. Oh, and PIX 11, too. Wow, I'm surprised.

 

Speaking of Tegna, I hope WNEP still hold their #1 status under them, since they're still the 800-lb gorilla in Northeastern Pennsylvania. Please don't mess it up, Tegna. Plus, had Tegna acquired WTVR, they would form a I-95/I-64 East cluster with WUSA9 in DC and WVEC covering the northern, central and eastern portions of Virginia. I can picture WTVR with C Clarity and news opens with scenes of Greater Richmond and surrounding areas.

[Samantha 2905]

KASW fits KNXV like a glove. It's also noteworthy how this gives Scripps what it typically hasn't had much of: CBS, Fox and CW affiliates.

 

Surprised to see this much of an acquisition from Tegna. Nexstar must be happy that Tegna, which lately has seemed to have the reverse Midas touch, is buying one of their chief competitors (WNEP).

[Greggo 361]

Interesting that Tegna didn't grab WISH in Indy, particularly when you look at some of the crappy stations they did buy. Huntsville, Alabama?!? Maybe this means Terrier will wind up with WISH. Not many other options out there with Sinclair essentially on unofficial probation.

[mre29 1571]

2 hours ago, GoldenShine9 said:

WSFL, unless it sets up a Sunbeam purchase, makes no sense though.

 

It could also be setting a WPLG purchase.

 

So, which of the divestments are left?

 

[GoldenShine9 1514]

7 minutes ago, Greggo said:

Interesting that Tegna didn't grab WISH in Indy, particularly when you look at some of the crappy stations they did buy. Huntsville, Alabama?!? Maybe this means Terrier will wind up with WISH. Not many other options out there with Sinclair essentially on unofficial probation.

 

Scripps could have easily grabbed one of WISH or WNDY to form a duopoly with WRTV as well.

[bhratbrat 437]

6 hours ago, channel2 said:

The Scripps link wasn't there when I made my post!

 

Selling WPIX off is foolish and I think the buyback option is an acknowledgement of that. Really not sure what the hell Scripps is gonna do with WSFL, given how little Tribune seems to care for it.

Probably think they can also hub it with WPTV

 

18 minutes ago, mre29 said:

 

It could also be setting a WPLG purchase.

 

So, which of the divestments are left?

 

From a source within Graham, that will probably not happen. If anything, Warren Buffet will probably sell back to Graham if and when he does not want to run WPLG anymore. Not only that, technically WPLG is still mostly managed by Graham. 

[TheOneManHerd 555]

How’s that “scale” thing working out for you, Cox?

[who?cares 255]

So with these announcements, which stations are left to divest?

 

Clearly WISH/WNDY