If the sale were completed, it would be interesting to see KHOU/KTBU be co-owned by Houston's Cox radio properties. Too bad KENS wasn't a part of the deal to begin with and be a part of San Antonio's Cox radio properties too. But oh well. Looks like Tegna is here to stay and keep the ex-Belo cluster.
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Apollo, Standard General make $8 billion bid for Tegna
- Thread starter Ccook55
- Start date
If the sale were completed, it would be interesting to see KHOU/KTBU be co-owned by Houston's Cox radio properties. Too bad KENS wasn't a part of the deal to begin with and be a part of San Antonio's Cox radio properties too. But oh well. Looks like Tegna is here to stay and keep the ex-Belo cluster.
Cox is selling its Houston radio cluster to Radio One, with KTHT being spun to a yet-to-be-revealed third party. Huge number of posts on the Houston boards about this. Cox will no longer have any Houston presence.
Apollo basically undid their merger of Cox into Northwest Broadcasting with that embarrassment of a sale.
To be sure, Apollo will assuredly break up Cox Media Group over the next few years, aside from the Atlanta cluster, which is almost impossible to separate or even sell. Now is the time for Apollo to cash out.
I’ll laugh when Soo Kim sells those four stations to Tegna. WLNE would benefit having a large chain behind them that actually cares, something they haven’t had since the Pulitzer days.
now that this merger is dead, i wouldn't be surprise Bryon Allen buys out one of the 2 companies and also i wouldn't be surprised if some stations get sold or traded off. if i was TEGNA, i would talk to Disney about a trade to give up WFAA & KMPX in Dallas (the 5th ranked market) in exchanged for WTVD in Raleigh/Durham/Fayetteville, NC (the 23th ranked market) and KFSN in Fresno/Visalia, CA (the 53rd ranked market), as Disney owning 2 TV stations in a smaller market doesn't makes sense as well as the idea that a top 5 market ABC Station isn't a owned & operated station.
Disney should enter Atlanta, Charlotte, Orlando, and Miami instead despite the Desantis fight. also why would Tegna give up it's biggest market and among the 4 original Belo stations.
Oh yeah I almost forgot about that.
I'm actually glad that WFAA isn't spun off by Disney/ABC. It's now the only (and was for quite some time before) major affiliate not owned by their network. And I know Tegna wouldn't spin off WFAA now that the deal is dead.
Not that it couldn’t happen, but that doesn’t look likely at this point. TEGNA is supposedly buying up more shares and is also rumored to be on the verge of mass layoffs. Seems like TEGNA is trying to move forward on its own, though everything is for sale at the right price. Byron Allen doesn’t seem like a potential purchaser here either. He already made a sweeter offer that had a much better chance to pass regulators, but it was deemed unacceptable because the financing was viewed as unreliable. His reputation hasn’t gotten any better since last year and is arguably worse now. I tend to think that window has closed.
Why? If you’re TEGNA, what makes sense for Disney isn’t your concern. Your concern is what makes sense for TEGNA. I don’t see how a trade like that is better for TEGNA.
Tegna wasn’t the one driving this sale. It was Standard General. They have every reason to refuse any sale offers henceforth and not subject themselves to this again.
Come next year, the revenue from political ad spending will help them get back into the swing of things (having stations in swing states like Arizona, Pennsylvania and Georgia and a ton of stations in Texas is not insignificant here).
Come next year, the revenue from political ad spending will help them get back into the swing of things (having stations in swing states like Arizona, Pennsylvania and Georgia and a ton of stations in Texas is not insignificant here).
Texas is once the home of both Belo and London Broadcasting
Keep in mind that TEGNA has a deal still in place to swap the programming, virtual channels, and call letters of those two stations in order for WFAA to wind up on the superior RF30 signal. Estrella Media, which previously owned KMPX, would acquire the RF8 facility. This arrangement predates the Standard General deal and is supposed to happen before the end of 2025.
Yikes. What more would they cut? They had several rounds of layoffs and buyouts after acquiring Belo.
Thing is, you had a bunch of top TEGNA executives who were going to receive some very generous individual buyouts when the proposed sale to Standard General was to close. A few of those individuals were probably headed to retirement. Now they are stuck with a company they were trying to get rid of, and are forced to carry on. Sort of like parents looking forward to being empty nesters, then having all the adult children move back home.
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