WLNE Bankrupt, In Receivership

[TVNewsRI 4]

As reported by competitor WPRI-TV.

 

http://www.wpri.com/dpp/news/abc-6-in-receivership-after-ad-drop

 

Station management says that it is very unlikely that they will go off the air.

[stevieboy247 42]

Well I think in all likelyhood the station will be put up for sale. I think Providence has had a network O&O station before (when WJAR was once owned by NBC), and it would'nt surprise me if Disney/ABC attempts to purchase WLNE depending on their interests.

[bostonmediaguy 123]

Well I think in all likelyhood the station will be put up for sale. I think Providence has had a network O&O station before (when WJAR was once owned by NBC), and it would'nt surprise me if Disney/ABC attempts to purchase WLNE depending on their interests.

 

WPRI was owned by CBS... for all of ten months.

[TVNewsRI 4]

http://www.broadcastingcable.com/article/455382-Struggling_WLNE_In_Receivership.php

 

B&C has someone quoted as saying that the station may be sold.

[mre29 1340]

So, which companies are likely potential buyers?

[TVNewsRI 4]

Here's a few that I might speculate on:

 

1. Hearst

-Has a huge presence in New England already with WCVB, WMUR, WMTW, and WPTZ/WNNE.

 

2. Belo

-Owns the Providence Journal

 

3. Nexstar

-Operates WLWC, which is owned by Four Points

 

4. ABC

-Only if WLNE was about to go dark might ABC step in to keep their programming on the air.

[bostonmediaguy 123]

Here's a few that I might speculate on:

 

1. Hearst

-Has a huge presence in New England already with WCVB, WMUR, WMTW, and WPTZ/WNNE.

 

Can't be Hearst. WCVB has a high-grade signal in Providence and already has a duopoly in Boston (with WMUR). They could do an LMA, operating the station for different owners, as LIN has with WNAC, the Fox station.

[mre29 1340]

Can't be Hearst. WCVB has a high-grade signal in Providence and already has a duopoly in Boston (with WMUR). They could do an LMA, operating the station for different owners, as LIN has with WNAC, the Fox station.

 

That's what I figured. Besides, I don't think Hearst would want to sell either their flagship or New Hampshire's only major network affiliate just so they could buy a struggling station in a smaller market.

[bostonmediaguy 123]

...I don't think Hearst would want to sell ... their flagship ...

 

Why would they have to sell WBAL?

[mre29 1340]

Why would they have to sell WBAL?

 

My bad. I thought WCVB was their flagship.

 

Heck, the word "flagship" is rather useless here, anyway. I really should have just said, "the top-rated WCVB".

[effseesee 101]

Can't be Hearst. WCVB has a high-grade signal in Providence and already has a duopoly in Boston (with WMUR). They could do an LMA, operating the station for different owners, as LIN has with WNAC, the Fox station.

 

Hearst isn't buying it, but your logic is flawed. The fact that WCVB puts a decent signal into Providence isn't relevant. All that matters is whether Hearst currently owns a station in the Providence market. Since they don't, they could buy WLNE regardless of whether the signal for WCVB is viewable.

 

The most likely big name company to buy this station is Nexstar.

[bostonmediaguy 123]

Hearst isn't buying it, but your logic is flawed. The fact that WCVB puts a decent signal into Providence isn't relevant. All that matters is whether Hearst currently owns a station in the Providence market. Since they don't, they could buy WLNE regardless of whether the signal for WCVB is viewable.

 

The most likely big name company to buy this station is Nexstar.

 

While, admittedly, I have not kept up on ownership regulations lately; WCVB has a city-grade signal in Providence... same situation with CBS ownership of WPRI and WBZ. WPRI had to be sold.

 

In addition, because the Providence marketplace is so small, there cannot be any duopolies. Nexstar would have to own the station; Four Points owns WLWC and cannot own another station in the marketplace.

[effseesee 101]

While, admittedly, I have not kept up on ownership regulations lately; WCVB has a city-grade signal in Providence... same situation with CBS ownership of WPRI and WBZ. WPRI had to be sold.

 

In addition, because the Providence marketplace is so small, there cannot be any duopolies. Nexstar would have to own the station; Four Points owns WLWC and cannot own another station in the marketplace.

 

The sale of WPRI by CBS happened in 1995-1996. The rules changed in 2000. The issue could be true in Baltimore/Washington, DC. If WRC goes on the market due to the Comcast deal, Hearst could buy the station without any trouble even though it owns WBAL just up the road.

 

Nexstar buying WLNE and operating WLWC would be an identical virtual duopoly as the one between WPRI and WNAC.

[NewEnglandNewsInsider 0]

I feel really bad for WLNE. They've tried so hard and are doing slightly better but people still watch 12 (which is the worst station in RI), and 10 which is still good (especially on weekends).

 

I would love if they got better music (I nominate Impact V4), and graphics (though there actually decent).

 

I would be ecstatic if Belo picked them up, they would be best.

 

But here's who could pick it up:

Belo

Meridith

Nexstar (hope not)

Mission (please no)

Gannett

Sinclair (they could be ok actually)

Local TV

 

Not happening: Hearst (I think there close to cap), Lin, MG, ABC,

[TVNewsRI 4]

http://www.wpri.com/dpp/news/abc-6-faces-tough-market-if-owner-sells

 

Closing newsroom unlikely

 

It is “very rare” for a major network affiliate in a large TV market to become insolvent, Atorino said. “Before the credit-market-economic collapse, this never happened. The world has changed,” he said. Large media companies including Tribune and Citadel Broadcasting have filed for bankruptcy protection.

 

WLNE was hit by a triple-whammy – high debt, a recession-driven drop in advertising, and major changes in the media landscape, Levin said. “The broadcasting model is changing dramatically,” he said.

If WLNE is sold, the most likely buyer would be either a wealthy individual or a company that already owns a station in the Providence-New Bedford market, which could then merge the two channels’ news operations to save money, Atorino said.

Even if an independent buyer wanted to cut costs, it is unlikely he or she would close ABC 6’s news operations, Levin said. “The local news is the thing that distinguishes them,” he said.

 

Well at least we probably won't lose news on the station.

[mre29 1340]

Nexstar (hope not)

Mission (please no)

 

Aren't those effectively the same?

[tw-804 190]

Not happening: Hearst (I think there close to cap), Lin, MG, ABC,

 

...Raycom Media (not happening because their stations in the South, the Midwest, Tucson & Hawaii) and Gray (I don't think the Providence market is mid-size).

[effseesee 101]

Not happening: Hearst (I think there close to cap)

 

Hearst is at about 18% and the cap is 39%, so that's not an issue. Hearst isn't buying this station because they're going to waste any money on the Providence market.

 

To me, Nexstar would be the logical buyer since they already have a management agreement in place for WLWC. These days,most station owners are not going to enter a market unless they can control more than 1 signal. Sinclair only would be interested if they could get control of a second station.

[NewEnglandNewsInsider 0]

...Raycom Media (not happening because their stations in the South' date=' the Midwest, Tucson & Hawaii) and Gray (I don't think the Providence market is mid-size).[/quote']

 

Are you sure about that? Raycom has a couple of stations up North. Plus Grey is going to pick up WTEN eventually so it would make sense to expand. Anything would be better then Nexstar.

 

Though I'm really not sure if Nexstar could buy it outright or would it be owned by Mission?

[effseesee 101]

 

Though I'm really not sure if Nexstar could buy it outright or would it be owned by Mission?

 

They can buy it outright. Nexstar only has an agreement to manage WLWC for Four Seasons. The agreement doesn't count towards ownership.

[NewEnglandNewsInsider 0]

They can buy it outright. Nexstar only has an agreement to manage WLWC for Four Seasons. The agreement doesn't count towards ownership.

 

I still just hope they won't do it. I rather see an actual good owner buy it.

[TVNewsRI 4]

Now officially for sale...

 

http://newsblog.projo.com/2010/08/television-station-channel-6-i.html

 

According to the article it could be sold to:

 

A. Local investors

-Lin is Local

 

B. A media company based in NYC

-Hearst

-ABC

-McGraw-Hill

 

or

 

C. A media company based in the Midwest

-Barrington Broadcasting

-Scripps

-Local TV

-Meredith Corporation

-Post Newsweek

-Tribune

[effseesee 101]

Now officially for sale...

 

http://newsblog.projo.com/2010/08/television-station-channel-6-i.html

 

According to the article it could be sold to:

 

A. Local investors

-Lin is Local

 

B. A media company based in NYC

-Hearst

-ABC

-McGraw-Hill

 

or

 

C. A media company based in the Midwest

-Barrington Broadcasting

-Scripps

-Local TV

-Meredith Corporation

-Post Newsweek

-Tribune

 

It's highly unlikely it's any of those 3. It's more likely to be the new version of Granite. Granite's new chief operating officer is Duane Lammers, who was previously an exec at Nexstar.

[TexasTVNews 1366]

In my opinion WLNE would be sold to:

-Hearst

-Belo

-ABC

-McGraw-Hill

[Mrtraveler01 737]

Now officially for sale...

 

http://newsblog.projo.com/2010/08/television-station-channel-6-i.html

 

According to the article it could be sold to:

 

A. Local investors

-Lin is Local

 

B. A media company based in NYC

-Hearst

-ABC

-McGraw-Hill

 

or

 

C. A media company based in the Midwest

-Barrington Broadcasting

-Scripps

-Local TV

-Meredith Corporation

-Post Newsweek

-Tribune

 

I doubt it would be LIN, they already own WPRI and the Fox Station there. No way they would let LIN own 3 stations in Providence.