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Apollo interested in buying Tegna?

jabba17 said:
https://www.allaccess.com/net-news/...o-global-management-approached-tegna-about-sa

Apollo has apparently approached Tegna about buying them and combining them with Cox.

Wouldn't this mean that they would have to sell off either WSB-TV or WXIA? I'm guessing they could keep WATL.
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I saw that, too, and it was definitely one from the, "WOW!", file. I believe you are correct that the new Cox Media would have to divest either WSB-TV or WXIA if it were to acquire TEGNA.
 
Kent said:
I saw that, too, and it was definitely one from the, "WOW!", file. I believe you are correct that the new Cox Media would have to divest either WSB-TV or WXIA if it were to acquire TEGNA.
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If I am reading this quote from the FCC site correctly: *


“In markets with at least 20 independently owned "media voices" (defined as full power TV stations and radio stations, major newspapers, and the cable system in the market) an entity can own up to two TV stations and six radio stations (or one TV station and seven radio stations).”


I guess there are 20 “voices”. Apollo / Tegna / Cox could own 2 TV stations and 6 radio stations. If not then the 2 TV stations and 4 radio stations would be in effect.


I would keep 2 and 11 but then there is a question of the news operations. I am sure there is some accountant somewhere that could make the argument to shut down the least profitable operation. Depending on the debt leverage issue that could happen, but there is an old business saying “that it is better to cut your own throat than have someone else do it.” IMHO Citadel made this mistake with 106.7 and 101.5. At one time they had County in one of the Souths premiere markets all to themselves. IIRC 106.7 was the “younger” skewing station. Then Citadel made 106.7 a “flanker” instead of going head to head with 101.5. CC (now iHeart) flipped "Peach / Lite" to the Bull and now is the market Country leader.


*https://www.fcc.gov/consumers/guides/fccs-review-broadcast-ownership-rules
 
secondchoice said:
I guess there are 20 “voices”. Apollo / Tegna / Cox could own 2 TV stations and 6 radio stations. If not then the 2 TV stations and 4 radio stations would be in effect.
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The combo would own three TV stations. Tegna also owns WATL 36.

But isn't there a rule regarding "major network" (ABC/CBS/Fox/NBC) affiliates where you can only have one of those? I may have that confused with the rule that these networks (the networks themselves, not affiliates) can't have common ownership.

Who would buy the odd man out? I'm assuming that Fox (5) would only be interested in 36 for a second O&O (not 2 or 11). Meredith already owns two (17 and 46). I'm guessing CBS (69) wouldn't be interested at all, unless they bought 46 off of Meredith (so they could have a second Atlanta O&O) so Meredith could buy one of the Apollo stations.
 
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The general rule is a station can't own two of the top four rated stations in the DMA. So, in this case, Apollo could own 2 and 36 or 11 and 36 but not 2 and 11. The FCC/DOJ does grant some exceptions, however it is usually in the case where a duopoly already exists with the two stations.

For example, if some other company wanted to buy 11 and 36, they probably could with no issue, since 36 is not one of the top four rated stations in the market. However, let's just say 36 somehow became a top four rated station tomorrow morning, the FCC/DOJ would have to give special ok to the sale. History shows that special ok would sometimes be granted, because at the time the original owner (Tegna) formed the duopoly, both stations were NOT top four, so the duopoly is sort of grandfathered in. But the government certainly would not green light a joint ownership of 2 and 11.

We're seeing a similar situation play out right now in Indianapolis, where a new owner may be forced to break up an existing duopoly because one of the stations has improved from 5th or 6th place to 3rd or 4th place since it was originally bought.

I hope I've explained this well enough. It makes sense in my head. Haha.
 
Wasn't there some talk a while back about the Mouse buying WSB-TV, which would get them an O&O? That might be a way out.

I don't think Comcast would want to fool with buying WXIA for an O&O of their own, assuming there's still a rule where a cable company can't own a local TV station (otherwise Cox Cable would have been in ATL a long time ago).
 
jabba17 said:
I don't think Comcast would want to fool with buying WXIA for an O&O of their own, assuming there's still a rule where a cable company can't own a local TV station (otherwise Cox Cable would have been in ATL a long time ago).
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That rule was repealed in 2002.

Since then, Cox has bought 2 TV stations in Tulsa where it has cable TV. No big whoop/

Comcast has cable franchises in Boston, where it took the NBC affiliation away from WHDH to a combination of a low power digital TV station that they bought and a subchannel of its Telemundo O&O that's branded for its cable channel number. Compared to the lawsuits that were filed after they didn't renew WHDH's contract, buying an existing affiliate would be easy!
 
FWIW, David Faber of CNBC reported yesterday that most of the recent discussions between Apollo and Tegna center around Apollo potentially offloading a few stations to Tegna.
 
If the Tegna/Apollo Deal were to become true wouldn't Apollo have to divest in Seattle, Atlanta, and Charlotte though given that Cox and Tegna compete against each other in those cities.
 
Apollo making another attempt at buying Tegna, this time with Gray:

https://www.allaccess.com/net-news/...o-global-management-gray-television-make-offe

While Apollo and Gray appear to be making separate offers for Tegna, I wonder if Gray could pick up Channel 11 if Apollo buys Tegna and keeps Channel 2, since Apollo can't own both 2 and 11.

Gray is based in Atlanta and owns several Big Four network affiliates around the state, but no stations in Atlanta currently.
 
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