Posted In: National Television
Yes thats right the owners of KRON in San Francisco is rumored to get Tribune stations like KTLA Los Angeles.
Now FTV Live does an Editorial on candidates that could get the Tribune stations.
Here is another talk on Tribune Selling their TV Station division at play here,
Here is an Update on the Nexstar/Tribune Talks
Nexstar Media Group has reached an agreement to acquire to Tribune MediaCo for about $4.1 billion, a deal which would make it the largest regional U.S. TV station operator, people familiar with the matter said on Sunday.
Nexstar’s acquisition would come just three months after Tribune’s $3.9 billion deal to sell itself to Sinclair Broadcast Group Inc, currently the largest U.S. TV station operator, collapsed over regulatory hurdles.
Nexstar outbid private equity firm Apollo Global Management LLC with an all-cash offer that values Tribune at around $46.50 per share, three sources said. The agreement between Nexstar and Tribune Media could be announced by Monday, the sources added.
The sources asked not to be identified because the matter is confidential. Nexstar, Tribune, Apollo and Sinclair did not immediately respond to requests for comment.
Going forward if Nexstar is really going to get the Tribune stations like KTXL Sacramento and KTLA Los Angeles they would have to deal with the side car issue though like divest Mission Broadcasting if they are really going to get the Tribune stations.
I remember that Sinclair could not get the Tribune deal approved by the FCC and DOJ due to the sidecar issue with Cunningham and Deerfield. This is what lead to Sinclair not getting the Tribune stations.
Here are the reports of the Tribune/Nexstar talks. If this deal is approved by the FCC then Nexstar will be one of the largest TV station owners in the country.
Indianapolis in particular is one of the markets where Nexstar has to decide who to divest due to the Tribune talks.
The parent company of WISH-TV is poised to become the largest owner of local TV stations in the nation after entering a deal to purchase Tribune Media for $4.1 billion.
The Texas-based Nexstar Media Group announced Monday that it would buy the 42 TV stations Tribune has been trying to sell for more than a year, including Indianapolis stations Fox59 and CBS4. The move will see Nexstar grow to 216 stations in 118 markets.
It remains unclear if Nexstar will have to divest any of the Indianapolis stations to gain approval from regulators. Questions related to how local stations would be impacted were not immediately answered.
In addition to WGN, Nexstar gets Tribune’s stations in L.A., New York, Chicago and Philadelphia, and a 31 percent ownership stake in the Food Network, according to a press release. Nexstar said the deal had a total transaction value of $6.4 billion with Tribune’s outstanding debt included.
The Tribune Media acquisition will give Nexstar stations in 18 of the nation’s top 25 markets and 37 of the top 50 markets and will expand Nexstar’s “geographic diversity,” Chairman and CEO Perry Sook said in a statement.
Now the future of WGN Radio is uncertain given that the Tribune/Nexstar talks are at play here.
Now an editorial has come out on Broadcasting and cable on why the Nexstar/Tribune deal should be aborted.
Another take on the Tribune/Nexstar talks
Nexstar Media Group Inc. is already attracting interest from private equity firms and rival media companies for a group of television stations that it’s promised to sell as part of its acquisition of Tribune Media Co., according to people familiar with the matter.
Cerberus Capital Management and Apollo Global Management LLC, as well as regional broadcasters EW Scripps Co., Gray Television Inc., Meredith Corp. and Tegna Inc., are circling the stations, which could fetch as much as $1 billion, said the people, who asked not to be identified because the details aren’t public.
A formal sale process is likely to start in coming weeks and the auction is expected to be completed by the time Nexstar’s merger with Tribune is slated to close in the third quarter of 2019, the people said.
Representatives for Apollo, Cerberus, Nexstar, Scripps and Tegna declined to comment.
A spokesman for Gray said the company will look seriously at every top-rated local television station that comes to market. A spokesman for Meredith declined to comment on specific situations, but said the company is always interested in properties that could add value.
A profile on Nexstar as it attempts to have a deal with Tribune.
The Rumor Mill continues as Nexstar is allegedly going to divest WPIX-TV in NYC.
WATN is rumored to get spun off from Nexstar.
An Update on the proposed divestments that Nexstar is in talks doing to get the Tribune stations.
The first stations going on the block are WTKR-TV, Norfolk, Va.; WGNT-TV, Portsmouth, Va,; and WNEP-TV, Scranton-Wilkes-Barre, Pa., according to a filing with the FCC that was made public Tuesday following the reopening of the Federal government.
According to filing the markets where Nexstar identifies overlaps where it can’t own both Tribune and Nexstar stations because of local ownership rules are: Davenport, Iowa; Des Moines, Iowa; Ft. Smith, Ark,; Grand Rapids, Mich,; Harrisburg, Pa.; Hartford, Conn,; Huntsville, Ala,’ Indianapolis, In.; Memphis, Tenn.; Richmond, Va. and Salt Lake City, Utah.
An Update Nexstar is in talks to Divest from WISH-TV and WNDY-TV to get the Tribune stations WTTV and WXIN.
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