tyrannical bastard 3955 Posted December 24, 2019 Share Posted December 24, 2019 Since Sheldon Galloway has his other stations (WLAJ and WXXA) tied to Nexstar, could we possibly see WMDN being tied into WJTV and WHLT which are both Nexstar-owned CBS affiliates? The way WHLT is being ran, what's another station to run WJTV's newscasts on and run the whole show out of Jackson? It wouldn't be the first time, as WGBC's predecessor WLBM was a satellite of WLBT in Jackson, and ran until the station had a fire in the early 90s.... Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-237773 Share on other sites More sharing options...
dman748 1256 Posted December 24, 2019 Author Share Posted December 24, 2019 It's possible but that would depend on where WMDN and WHLT rank at in Hattiesburg Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-237776 Share on other sites More sharing options...
GoldenShine9 1513 Posted December 24, 2019 Share Posted December 24, 2019 1 minute ago, oknewsguy said: It's possible but that would depend on where WMDN and WHLT rank at in Hattiesburg Both are essentially one-operation markets otherwise where Gray-owned stations are the 1,000 ton gorillas. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-237777 Share on other sites More sharing options...
dman748 1256 Posted December 24, 2019 Author Share Posted December 24, 2019 Just now, GoldenShine9 said: Both are essentially one-operation markets otherwise where Gray-owned stations are the 1,000 ton gorillas. So would a WHLT-WMDN duopoly be legal or no? Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-237778 Share on other sites More sharing options...
GoldenShine9 1513 Posted December 24, 2019 Share Posted December 24, 2019 4 minutes ago, oknewsguy said: So would a WHLT-WMDN duopoly be legal or no? Perfectly legal as they are different markets. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-237779 Share on other sites More sharing options...
tyrannical bastard 3955 Posted December 25, 2019 Share Posted December 25, 2019 Since all three are separate markets, Sheldon Galloway could foreseeably turn the keys over to Nexstar (WJTV) and have them take over WMDN, much like they run WHLT down in Hattiesburg. A separate schedule of market-specific programs and commercials, and the full slate of WJTV newscasts with a WMDN bug pasted over it. Nexstar largely gave up trying to produce local segments in Hattiesburg (or even FOR Hattiesburg) and just simulcasts WJTV for the most part now. Ownership-wise, Nexstar could possibly squeeze in this station, since it's a tiny fraction of a percent due to Meridian's market size and the UHF discount. But that may be a ways off as Nexstar is still trying to digest Tribune and may have other swaps and options they are pursuing first...cough cough.....WPIX....cough cough. Without being maxed out, WMDN is free and clear since Meridian is a totally separate market. The end result could possibly be a third news option in tiny Meridian, even if it is piped in from Jackson. Adding in more counties to WJTV's "coverage" area news-wise would dilute their coverage even further. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-237830 Share on other sites More sharing options...
CircleSeven 1955 Posted February 13, 2020 Share Posted February 13, 2020 It appears that the FCC has greenlighted the deal last Friday. Including the WMDN Lance deal. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-240684 Share on other sites More sharing options...
CircleSeven 1955 Posted November 3, 2020 Share Posted November 3, 2020 I'm bumping this thread to let all of you know that this transaction is still active. And It has yet to close. The parties have filed their third extension of consummation. That basically means filing for extension of time to complete the sale. They wrote their reasoning for this extension: Quote The parties are committed to working towards a closing. However, there remain a few outstanding issues to be resolved before the closing can take place. The parties expect to consummate this transaction in the near term. But this is basically the same thing they wrote when they filed their second extension in August. So. What's the hold up? What "outstanding issues" need to be "resolved" to get this deal to the finish line? Will this deal ever close? We'll see what happens. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-252998 Share on other sites More sharing options...
dman748 1256 Posted November 3, 2020 Author Share Posted November 3, 2020 10 hours ago, CircleSeven said: I'm bumping this thread to let all of you know that this transaction is still active. And It has yet to close. The parties have filed their third extension of consummation. That basically means filing for extension of time to complete the sale. They wrote their reasoning for this extension: But this is basically the same thing they wrote when they filed their second extension in August. So. What's the hold up? What "outstanding issues" need to be "resolved" to get this deal to the finish line? Will this deal ever close? We'll see what happens. I wonder if they let COVID get in the way of closing the deal on time. Because I did read from your post back on February 13th that the FCC did greenlight the deal they had at least a month to complete the deal before the COVID shutdowns took place that's enough ample time for them to do so. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-253020 Share on other sites More sharing options...
CircleSeven 1955 Posted January 3, 2021 Share Posted January 3, 2021 Maybe Soohyung Kim can close this deal?..... Big update regarding Standard Media. Filed on New Year's Eve (12/31/20) is a Transfer of Control application of Standard Media from McDermott Communications to Community News Media, LLC (through a subsidiary Paducah Television Operations). Community News Media is the same firm that's filing to acquire the two Sinclair stations in Paducah, KY (KBSI/WDKA). Here's the organizational chart of the proposed change of guard of Standard Media. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-255202 Share on other sites More sharing options...
Yankees4life 559 Posted January 4, 2021 Share Posted January 4, 2021 15 hours ago, CircleSeven said: Maybe Soohyung Kim can close this deal?..... Big update regarding Standard Media. Filed on New Year's Eve (12/31/20) is a Transfer of Control application of Standard Media from McDermott Communications to Community News Media, LLC (through a subsidiary Paducah Television Operations). Community News Media is the same firm that's filing to acquire the two Sinclair stations in Paducah, KY (KBSI/WDKA). Here's the organizational chart of the proposed change of guard of Standard Media. I guess Kim decided to splash the cash to get this group (in order to avoid confusion, I guess) Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-255222 Share on other sites More sharing options...
dman748 1256 Posted January 4, 2021 Author Share Posted January 4, 2021 This might explain why this deal is taking so long. I think that had Kim not gone with the 2nd iteration of the Standard Media name then things probably wouldn't take so long. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-255228 Share on other sites More sharing options...
CircleSeven 1955 Posted January 4, 2021 Share Posted January 4, 2021 Well, so much for hope to complete the deal....... And after almost eleven months after the FCC approved the deal, the Waypoint/Vision transaction to Standard Media is now officially dead. Non-consummation notices posted Monday (1/4). Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-255232 Share on other sites More sharing options...
dman748 1256 Posted January 4, 2021 Author Share Posted January 4, 2021 1 hour ago, CircleSeven said: Well, so much for hope to complete the deal....... And after almost eleven months after the FCC approved the deal, the Waypoint/Vision transaction to Standard Media is now officially dead. Non-consummation notices posted Monday (1/4). Which also includes the seperate deals involving both Lake Charles and Jackson (TN) from SagamoreHill if I'm correct. Either way, this might've exposed many of the problems of having 2 different entities runned by the same people that makes it very difficult for which one company that Kim/McDermott controls is going to buy. If they want to be serious contenders again they need to consolidate McDermott's group with that of Kim's that would take care of some of the problems there. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-255234 Share on other sites More sharing options...
CircleSeven 1955 Posted January 4, 2021 Share Posted January 4, 2021 On 1/4/2021 at 2:03 AM, dman748 said: Which also includes the seperate deals involving both Lake Charles and Jackson (TN) from SagamoreHill if I'm correct. Either way, this might've exposed many of the problems of having 2 different entities runned by the same people that makes it very difficult for which one company that Kim/McDermott controls is going to buy. If they want to be serious contenders again they need to consolidate McDermott's group with that of Kim's that would take care of some of the problems there. Lake Charles was not a part of this deal. Waypoint sold the Lake Charles LPs to SagamoreHill. SagamoreHill did have that Jackson, TN LPs that was in part of this deal, however. Anyway, once that Transfer of Control gets finalized, it will be Kim that will be running the show and not McDermott. Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-255235 Share on other sites More sharing options...
dman748 1256 Posted January 10, 2021 Author Share Posted January 10, 2021 On 1/4/2021 at 5:30 AM, CircleSeven said: Anyway, once that Transfer of Control gets finalized, it will be Kim that will be running the show and not McDermott. Could this explain why TVNewsCheck reported the other day that Kim is interested in purchasing either part of Meredith or all of the Quincy stations? Quote Who is bidding is unclear, but possible buyers include private equity investor Apollo Global Management, which bought a majority stake in Cox last year; Allen Media, owned by Byron Allen; and Standard Media, headed by Deborah McDermott and backed by hedge fund manager Soo Kim. Also do we know exactly where Kim is getting his money from to even afford making a move for either company? Link to comment https://localnewstalk.net/topic/17431-standard-media-to-acquire-both-waypoint-media-group-and-vision-communications/page/2/#findComment-255444 Share on other sites More sharing options...
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