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Nexstar becoming the largest U.S. TV Operator

My guess who will buy WXMI Fox17 Scripps, Meredith, Gray, Standard Media A.K.A. Media General from the ashes, Northwest maybe too big for them as they only own very small markets. WWMT was Sinclair's crown jewel which they weren't going to sell Nexstar isn't going to sell Wood TV, WOTV & WXSP since that is there crown jewel.
 
Now as mentioned in other threads WGN-AM has been named for Divestment so far and Cumulus Media the owners of WLS-AM has been named as a candidate to get WGN-AM.

https://www.robertfeder.com/2018/12/10/robservations-wls-owner-talks-interest-buying-wgn-radio/

Robservations on the media beat:

Cumulus Media, parent company of news/talk WLS 890-AM and two other radio stations in Chicago, could be first in line to make a bid for news/talk WGN 720-AM if the station’s incoming owners put it up for sale next year. Nexstar Media Group has agreed to acquire Tribune Media, which includes 42 television stations, WGN America cable network and the standalone radio station. It’s willing to sell WGN Radio, according to Crain’s Chicago Business, which reported that Nexstar has no plans to build out a radio portfolio. Mary Berner, president and CEO of Cumulus Media, told staffers in Chicago last week that the company definitely was interested in WGN Radio. “It’s on our radar,” one insider said. Cumulus Media, which emerged from bankruptcy earlier this year, also owns classic hits WLS 94.7-FM and alternative rock WKQX 101.1-FM. Also reportedly considered potential buyers of WGN Radio are Hubbard Radio and Entercom Communications.
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I hope that if WREG in Memphis is sold that it will be bought by someone who isn't as infomercial crazy. Nexstar isn't much better on WATN or WLMT in Memphis though.
 
TVCOOL said:
why would Nexstar do that? If it's true then sell WPIX to Sinclair Broadcasting and call it a day.
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Because NYC is so large it will require them to sell off more of their lower tiered stations. I imagine one NYC station has the audience of ten small markets combined.
 
https://tvnewscheck.com/article/more-news/229196/tribune-sells-remaining-5-chicago-cubs/

Here is an update on Tribune it has sold off its remaining interest in the Cubs

Tribune Media Co. and the Chicago Cubs announced Friday that Chicago Entertainment Ventures, the Cubs’ parent company, has completed the purchase of Tribune’s remaining 5% membership interests in Chicago Entertainment Ventures.
The transaction occurred pursuant to the exercise of a purchase right under the parties’ agreements and concludes Tribune’s ownership interest in the Cubs and their affiliates.
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Markxxx said:
Because NYC is so large it will require them to sell off more of their lower tiered stations. I imagine one NYC station has the audience of ten small markets combined.
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Yep. NYC is bigger than markets ranked #40-49 combined. So not even that small of markets.

I'm a little surprised by this. You'd think WPIX would be more profitable than 10 medium market stations. But maybe the duopolies in a market like Albuquerque are really that lucrative.
 
https://www.broadcastingcable.com/news/nexstar-identifies-where-it-will-divest-to-acquire-tribune

Here is a proposed divestment plan Nexstar has in talks 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.
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Nexstar owns WTNH-TV (ABC) channel 8 of New Haven and operates WCTX-TV (MY) channel 59 of New Haven.
Tribune owns WTIC-TV (FOX) channel 61 of Hartford and operates WCCT-TV (CW) channel 20 of Waterbury.

Nexstar also owns WWLP-TV (NBC) channel 22 in Springfield, MA. That city is actually closer to Hartford than New Haven, BUT is a separate TV market.
 
KML-224 said:
Nexstar owns WTNH-TV (ABC) channel 8 of New Haven and operates WCTX-TV (MY) channel 59 of New Haven.
Tribune owns WTIC-TV (FOX) channel 61 of Hartford and operates WCCT-TV (CW) channel 20 of Waterbury.

Nexstar also owns WWLP-TV (NBC) channel 22 in Springfield, MA. That city is actually closer to Hartford than New Haven, BUT is a separate TV market.
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What station is bigger though, WTNH or WTIC? What would Nexstar rather have?
 
https://www.ftvlive.com/sqsp-test/2019/2/15/apollo-looking-to-buy-nexstar-spin-offs

Update Apollo is also named as a candidate to get the Nexstar Divested stations along with Cox.

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.
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https://variety.com/2019/biz/news/nexstar-sued-black-owned-tv-company-1203179793/

Update on Nexstar talks

A black-owned TV company sued Nexstar Media Group on Wednesday, accusing the company of sabotaging its efforts to operate independently.

Marshall Broadcasting Group owns three Fox affiliates in Odessa, Texas; Shreveport, La.; and Davenport, Iowa. The company, owned by Pluria Marshall Jr., bought the stations from Nexstar in 2014, as Nexstar was looking to divest in order to win FCC approval for a series of acquisitions.

According to the suit, Nexstar aimed to sell to Marshall, knowing that the FCC would look favorably upon a sale to a minority-owned company. Nexstar went so far as to guarantee the financing to complete the transaction. But the suit alleges that since the deal, Nexstar has sabotaged Marshall’s effort to run the stations.

The suit claims that Nexstar intends to torpedo the value of the stations and then reacquire them, with the hope that “in the current political climate Nexstar will face significantly less regulatory push-back than it did in late 2014.”
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Here is another Talk on Nexstar

https://www.broadcastingcable.com/news/nexstar-selling-stations-in-indianapolis-for-42-5m

As part of its plan to get its proposed acquisition of Tribune Media Co. approved, Nexstar announced that it was selling two stations in Indianapolis for $42.5 million to Circle City Broadcasting.


Circle City Broadcasting is a newly formed company formed by DuJuan McCoy, which would owned WISH-TV, the CW affiliate in Indianapolis and WNDY-TV, which is a MyNetworkTV affiliate.

Nexstar announced an agreement to buy Tribune for $4.1. Billion on Dec. 3. Nexstar needed to sell some stations to get under national ownership caps and some other stations to meet local ownership regulations.
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In the case of Marshall Broadcasting, the undisputed facts here seem to be that Nexstar agreed to back Marshall Broadcasting's loans. That means they probably could not secure independent financing, implying that this operator likely had no business owning three TV stations. Even so, if Nexstar did threaten to cancel its guarantee that could be problematic - on the other hand, if Marshall were regularly delinquent and that was costing Nexstar, they could be within their rights.

Nexstar obviously could not be held liable for "overcharging" Marshall, unless they provided false documentation regarding revenue.

And as far as Marshall's claim that only 12 television stations in the US are black-owned: that is misleading. The vast majority of TV stations are owned by corporate entities to which no identity can be assigned.
 
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