February 15, 2019 at 10:26 pm #185544
Now Apollo is named as a candidate to get the divested Nexstar stations.
A few days ago, FTVLive told you that the private equity firm Apollo was going to be the likely buyer of the 14 Cox stations that are currently up for sale.
But it appears that Apollo is not stopping there.
Leon Black and his Apollo Global Management are said to also be interested in a group of local television stations from Nexstar.
Apparently, these are the stations that Nexstar is interested in spinning off as part of their deal to buy Tribune.
Getting the Nexstar stations gives Apollo the scale it needs to be able to offer the Cox family an equity stake in the combined business, helping them win that auction of the Cox stations.
The plan is to house the Cox, Nexstar and Northwest assets under the same parent entity, but run the Cox stations separately, they said.
In other words, Cox sticks around as part of the new company under Apollo.February 20, 2019 at 6:13 pm #185592
Now here is an update on the Apollo/Nexstar talks.March 11, 2019 at 9:05 pm #185799
ANother take on the Nexstar talks with the proposed 78% cap
Most of a dozen broadcast groups, including Nexstar and Tribune, have told the FCC, in a Hippocratic Oath approach to deregulation, to first do no harm to the current “status quo” audience reach cap of 78%.
Actually, the cap is still 39% for VHFs. But since UHF is the stronger, more valuable, signal in the digital age, and an owner can, if it had only UHF stations, reach up to 78% of the national audience given the 50% UHF discount, making it a straight 78% across the board is the least the FCC should do, they argue. The most would be to eliminate the cap, but they focus on what they say is the least it should do.
That came in a filing Monday (March 11) by ION, Univision, Trinity, Nexstar, Tribune, Word of God Fellowship (Daystar Television), Northwest Broadcasting, Ramar Communications, Meruelo Media, Ellis Communications, and Entravision.
Some have suggested raising the cap only to 50%, which these groups say is just not enough.
“Limiting broadcasters’ potential audience reach based on the crude proxy of total Nielsen Television Households is an arbitrary, unfair restraint on their ability to compete with increasingly national, and indeed global, players in the television programming industry,” they said. “If the Commission nevertheless chooses to maintain a cap, in the absence of an empirical basis for any numerical limitation, it should at least preserve Congress’ determination and intent based on its review of the video distribution market nearly 15 years ago, i.e. 78%.”March 12, 2019 at 9:55 pm #185814
An Update on the Nexstar/Tribune talks.March 18, 2019 at 1:29 pm #185889
Fox is out of the Running for Nexstar stations.March 20, 2019 at 2:56 pm #185912
Update Tegna and Scripps get some of the divested Nexstar stations.March 20, 2019 at 3:12 pm #185913
Eric Jon MagnusonParticipant
Here are the relevant press releases…
(Of note is that Nexstar is still trying to spin off some stations in Indianapolis.)
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