Crain's: WGN-TV For Sale

[noknownuser]

From Crain's:

Trib shops major TV outlets, including WGN: report

(Crain’s) — Tribune Co. has started to shop around its premier television stations in its three biggest broadcast markets, including Chicago’s WGN-TV/Channel 9, according to a published report.

Investment bankers are reportedly seeking bidders for WGN in Chicago, KTLA-TV in Los Angeles and WPIX-TV in New York, according to a Friday report in the Los Angeles Times. http://www.chicagobusiness.com/cgi-bin/news.pl?id=22832


My comment: Likely suitor? CBS...Channel 2 and CW affiliate Channel 9 would match up nicely. More than likely CBS will have to lose one radio station; my guess, WCKG.

 

[hootmon]

I seem to remember Tribune Co signing long term (10 yr??) affiliations for WGN, KTLA and others to carry the CW programming. Does that commitment continue if stations are sold to other groups or can a new buyer got out of the deal?

 

[KeithE4]

My comment: Likely suitor? CBS...Channel 2 and CW affiliate Channel 9 would match up nicely. More than likely CBS will have to lose one radio station; my guess, WCKG.

Couple of questions:

Wouldn't WGN's Superstation status cause a problem with the FCC if CBS or ABC wanted to buy them?

Would Wiegel be interested in making a WGN-WCIU duopoly if they could pull off the financing?

 

[Firebird]

What about Fox buying WGN and selling either 32 or 50? ??? ???

 

[Markxxx]

Well Crain's seems to be a bit ahead of itself on the WGN news tonight, they are stressing that the sales or potential sale will be based upon the ability to renew the license of WPIX and KTLA which come due in December. They are prohibited from owning newspapers and TV stations in the same market. Tribune and WGN-TV are exempt due to a grandfather clause.

But if Tribune can't get a permanent waiver for WPIX and KTLA and they decide to sell the Tribune, CBS seems to be the most aggresive potential. Weigel would be hard pressed to come up with the cash.

FOX would love a VHF signal but the question is what would it be worth to FOX. WFLD is very strongly branded and with digital coming the VHF signal will be pretty much irrelevent. They bought WPWR for 455 million dollars, so it'd be interesting to see if anyone else would pay that much for it. Or would FOX take a loss to buy WGN.

NBC could dump channel 44 and buy WGN and put a hispanic channel on a VHF. That would make some sense.

 

[b344077]

I'm afraid the sum of the parts will be worth less than whole.

WGN-TV/AM/Cubs/Superstation is a terrific franchise. In my opinion, that is the package.

The best thing that could happen is for Gannett to buy the whole and continue to build on this package.

 

[overtheair]

Would love to see WGN-9 become a 24 hour Chicago news/sports station- news all day and sports all night.
Cubs, White Sox, Bulls, Blackhawks, DePaul, Loyola, ND Basketball. etc etc.

 

[tfraveletti]

My comment: Likely suitor? CBS...Channel 2 and CW affiliate Channel 9 would match up nicely. More than likely CBS will have to lose one radio station; my guess, WCKG.

Couple of questions:



Would Wiegel be interested in making a WGN-WCIU duopoly if they could pull off the financing?

Glad you and I think alike.

 

[lugnuts6]

Yea, but one of the posters does post a potential problem...

"What about SUPERSTATION WGN??"

There is the thorn

 

[Joe_Capitano]

Superstation WGN is a "superstation" only in name. While it carries some WGN-TV newscasts and sports (All Cubs & White Sox and select Bulls games), it does not air CW programming and is otherwise programmed differently from the namesake station.

On the other hand, KTLA & WPIX are 100% simulcasts. Given their legacy status, it should not be a problem for any buyer. Rather, a feather in one's cap.