DEVELOPING: WTVJ Sale to P-N Hits Snag With DOJ

[IdiotsOutWanderingAround 0]

As Speculated earlier on TVNT, the DOJ is looking into the possibility that Post-Newsweek might be in violation of certain ownership laws by purchasing WTVJ.

 

From our friends at FTVLive:

“It appears that the WTVJ (NBC O&O Miami) sale maybe in trouble.

Insiders tell FTVLive that the Department of Justice has been in Miami and looked at the client lists for the two stations and there’s concern that Post Newsweek may have too much of the market and the deal could be in trouble.

If so, this is a big issue for the NBC-Local Media Group. They needed the money from the WTVJ sale to cover budget misses. If the sale doesn’t go through, you could be looking at some more very deep cuts at the O&O’s”

 

 

[CircleSeven 1960]

I still hope the FCC don't approve this. On a related note, there's an online petition for the FCC to reject the approval of the acquisition. And the transaction of The Weather Channel was closed too? Yep, they'll be in a deeper hole if they don't find somebody to take WTVJ & WVIT out their hands.

[Amra 171]

Here in Miami, there has been lots of articles about people not approving the sale of WTVJ. If they don't want NBC to sell Channel 6, then start to watch it.

[Que 73]

I still hope the FCC don't approve this. On a related note, there's an online petition for the FCC to reject the approval of the acquisition. And the transaction of The Weather Channel was closed too? Yep, they'll be in a deeper hole if they don't find somebody to take WTVJ & WVIT out their hands.

 

NBC needs to sell the station. Why don't you want the deal to go through? If this deal fails, expect more jobs to be cut to make up for the cost. Obviously NBC doesn't want this station anymore, so I highly doubt they will continue to invest (major improvements) within the station, but I could be wrong.

[stevieboy247 42]

As Speculated earlier on TVNT, the DOJ is looking into the possibility that Post-Newsweek might be in violation of certain ownership laws by purchasing WTVJ.

 

From our friends at FTVLive:

“It appears that the WTVJ (NBC O&O Miami) sale maybe in trouble.

Insiders tell FTVLive that the Department of Justice has been in Miami and looked at the client lists for the two stations and there’s concern that Post Newsweek may have too much of the market and the deal could be in trouble.

If so, this is a big issue for the NBC-Local Media Group. They needed the money from the WTVJ sale to cover budget misses. If the sale doesn’t go through, you could be looking at some more very deep cuts at the O&O’s”

 

 

 

Well if the WTVJ sale does indeed fall through, not only will that be a major blow for NBC, but the possibility of some job cuts won't be pretty at all.

 

I think NBC would have been better off selling the station to someone else.

[CircleSeven 1960]

NBC needs to sell the station. Why don't you want the deal to go through? If this deal fails, expect more jobs to be cut to make up for the cost. Obviously NBC doesn't want this station anymore, so I highly doubt they will continue to invest (major improvements) within the station, but I could be wrong.

 

I understand that NBC needs to sell it. That is why I stated earlier that they'll be in a deeper hole if they don't sell it and Channel 30 in Hartford, since they just acquired The Weather Channel. And when I stated that "I still hope the FCC don't approve this", I was referring to the Post acquiring WTVJ, while they already have their 800lb gorilla, WPLG Local 10. And I can careless if PLG can get TVJ because PLG is within the top-4 in the market and TVJ is not. I didn't say NBC should keep the station, or they shouldn't sell it either. They could do whatever they want with it. But I'm happy that the Department of Justice is looking through all of this.

 

Well if the WTVJ sale does indeed fall through, not only will that be a major blow for NBC, but the possibility of some job cuts won't be pretty at all.

 

I think NBC would have been better off selling the station to someone else.

 

Gannett, Media General, Scripps could've scraped some of their chump change to get TVJ. Hell even Local TV (and I don't like more privite equities getting television stations at a faster rate) but if NBC really wanted some more dough and not deal with possible cuts should the deal doesn't go through, they should've went with private equity company.

[DMA 135]

NBC needs to sell the station. Why don't you want the deal to go through? If this deal fails, expect more jobs to be cut to make up for the cost. Obviously NBC doesn't want this station anymore, so I highly doubt they will continue to invest (major improvements) within the station, but I could be wrong.

 

What he's saying is that he wants the station sold, but not to P-N, as it would be a conflict of interest. I'm glad the government is being proactive, first Sinclair, now this.

[eyewitness_news 5]

Yes, selling WTVJ to Post-Newsweek would be impossible. For one thing, in order for NBC to sell WTVJ to P-N, P-N must first sell WPLG to another broadcasting firm, and I don't think they're willing to give up 'PLG anytime soon.

 

Now WVIT on the other hand...

[Amra 171]

If NBC really didn't wanted to invest in WTVJ, then why they spent millions of dollars on the upgrade of TVJ to broadcast HD News. And IIRC, WVIT got the new gfx from ArtWorks, yet they are in the chopping block. But TVJ didn't get them, so, if they sell WVIT, would they sell their other station in LA, KWHY? Would it be enough money to reduce the impact financially if they were to keep WTVJ? They have to in some point, to get rid of KWHY.

[TVNewsLover 787]

Yes, selling WTVJ to Post-Newsweek would be impossible. For one thing, in order for NBC to sell WTVJ to P-N, P-N must first sell WPLG to another broadcasting firm, and I don't think they're willing to give up 'PLG anytime soon.

 

Now WVIT on the other hand...

 

Ummm, where have you been, hiding under a tree? WTVJ has been sold to P-N, and the sell is pending approval from the FCC/DOJ. P-N does not need to sell WPLG in order to acquire WTVJ. They can have both under the current laws. See the other earlier thread about the actual sell.

[Amra 171]

So, WTVJ is now under P-N ownership and not of NBC?

[jerseyfla 207]

So, WTVJ is now under P-N ownership and not of NBC?

 

No, the sale has to go through an approval process with the US Government, which right now isn't looking good for Post-Newsweek mainly because of the fact WTVJ is the #6 ranked station in the market due to Nielsen including Spanish language stations in the rating books. Two Spanish language stations (WLTV and WSCV) are being watched more than WTVJ. In the past, Spanish stations had their own Nielsen category so technically WTVJ is the #4 station in the market which would have made the sale illegal a few years ago.

[Amra 171]

Oh I understand now. But WSCV & WTVJ are in crapper. SCV being in 5th and TVJ at 6th. But I got your point. We have to see what will happen now. But still, I still stand by that NBC has to sell KWHY in the future, they can't have 3 stations in one market, and that's the thing in LA. Maybe if they find a buyer for KWHY, will the sale of KWHY help NBC in any regard?

[jero23 105]

Oh well. I would have rather saw Gannett buy WTVJ over Post-Newsweek.

[ib-td 1]

My question is--- if this sale goes to hell, will the price for TVJ go down to encourage a buyer, and if so, how much do you think?

 

ok, it is a compound question.

[lugnuts6 91]

If PNS is told no by the DOJ , I look for Sunbeam to purchase WTVJ and rub it in the nose of NBC big time

 

Can you imagine WTVJ run by WSVN???

[ib-td 1]

isn't that sort of like what is happening at WHDH? sort of

[lugnuts6 91]

Yea, in a way.

but lets face it , it seems to be the only logical solution to what is frankly becoming a bigger headache

 

By the way I must ask this unless its been addressed before:

Just how good, billing wise IS WTVJ , if thats what might be the sticking point in the blessing?

 

Could PNS be forced to divest itsself of some properties to get WTVJ ??

[Amra 171]

The thing isn't it divest properties to get WTVJ, the thing is that WTVJ is in the top 4 (not counting spanish TV stations in Miami). KWHY should be the other station to be in the market. NBC has 3 stations in LA, which is ilegal with the current FCC rules.

[mre29 1563]

If PNS is told no by the DOJ , I look for Sunbeam to purchase WTVJ and rub it in the nose of NBC big time

 

If Post-Newsweek can't buy WTVJ, Sunbeam wouldn't be able to, either.

[lugnuts6 91]

So we eliminate PNS ... who besides a private equity firm would be a possible buyer for TVJ

[mre29 1563]

I'd assume Hearst-Argyle, Freedom Communications, Raycom and Scripps-Howard are all out as they own stations in the West Palm Beach market.

 

That would leave Belo, Gannett, Media General, Cox, Gray, Meredith, and probably a few others.

[puck2008 0]

That would leave Belo, Gannett, Media General, Cox, Gray, Meredith, and probably a few others.

 

No way in hell would I see Gray purchasing 'TVJ...they're just too cheap.

[WAVY 10 Fan 233]

I'd assume Hearst-Argyle, Freedom Communications, Raycom and Scripps-Howard are all out as they own stations in the West Palm Beach market.

 

That would leave Belo, Gannett, Media General, Cox, Gray, Meredith, and probably a few others.

 

LIN doesn't have anything in the Miami area to my knowledge, so they could be a possibility.

[jerseyfla 207]

I'd assume Hearst-Argyle, Freedom Communications, Raycom and Scripps-Howard are all out as they own stations in the West Palm Beach market.

 

That would leave Belo, Gannett, Media General, Cox, Gray, Meredith, and probably a few others.

 

 

Not true about Hearst because Hearst owns WESH in Orlando which connecting Brevard and Indian River counties would indicate Hearst owns two stations in neighboring markets and lets not forget CBS used to own WTVX in WPB and WFOR in Miami