Gannett buys Belo

[michael hagerty]

Russ Wiles of the Republic posted a piece to AZCentral.com on the deal Thursday night at 9. It gets the story right in paragraph 7, but in three other places (including the headline) it says 3 and 12 will both be Gannett stations.

If you can't get the story right in your own newsroom...

Better check the Phoenix Gazette and see if they got the story right : Regardless of who buys 3TV, there'll be available space to rent on 7th Ave.

Doc: Why? What do you think Sander's going to cut?

 

[DrAkbar]

Russ Wiles of the Republic posted a piece to AZCentral.com on the deal Thursday night at 9. It gets the story right in paragraph 7, but in three other places (including the headline) it says 3 and 12 will both be Gannett stations.

If you can't get the story right in your own newsroom...

Better check the Phoenix Gazette and see if they got the story right : Regardless of who buys 3TV, there'll be available space to rent on 7th Ave.

Doc: Why? What do you think Sander's going to cut?

Just as the Valley always has a first 100 degree day in the spring, a new owner always cuts costs. Belo cut after purchasing 3TV...the next owner will do the same.

 

[michael hagerty]

Russ Wiles of the Republic posted a piece to AZCentral.com on the deal Thursday night at 9. It gets the story right in paragraph 7, but in three other places (including the headline) it says 3 and 12 will both be Gannett stations.

If you can't get the story right in your own newsroom...

Better check the Phoenix Gazette and see if they got the story right : Regardless of who buys 3TV, there'll be available space to rent on 7th Ave.

Doc: Why? What do you think Sander's going to cut?

Just as the Valley always has a first 100 degree day in the spring, a new owner always cuts costs. Belo cut after purchasing 3TV...the next owner will do the same.

Doc:

Belo's ideal staff size in 1999 was 165. KTVK had 120 in news alone...310 total. There were things to cut. I'm not sure that's the case 14 years later.

 

[ihEARDtHAT]

Another update on what happens to Belo stations in St. Louis and Phoenix as reported on Mediabistro/TVSpy.com:

Gannett Broadcasting president David Lougee gave TVSpy a look at what it plans to do with some of the Belo stations it will own as soon as the inks dries on its deal to buy the station group.

Lougee told TVSpy, “I’m never going in those buildings. They are going to completely compete against our television stations. There is no consolidation taking place in St. Louis and Phoenix.

http://www.mediabistro.com/tvspy/gannett-promises-to-keep-same-market-stations-separate-in-belo-acquisition_b94125#more-94125

 

[Markxxx]

I'm sure they will keep them separate, but for how long? It will be just long enough to get the deal approved, and then who knows?

 

[michael hagerty]

I'm sure they will keep them separate, but for how long? It will be just long enough to get the deal approved, and then who knows?

Unless there was a mass change of FCC commissioners, they'd be in breach of the terms under which the licenses were awarded. Both Gannett and Sander could have those licenses revoked, and if there was proof that the intent was to do that all along, an examination of both owners' fitness as licensees could follow, placing all their licenses at risk.

 

[powergate92]

Although, in Tucson, Jack Sander will get KMSB, KTTU will be going to former Fisher Communications president and CEO Ben Tucker. http://www.broadcastingcable.com/article/494095-Ben_Tucker_to_Own_Gannett_Serviced_KTTU_Tucson.php Meanwhile, I wonder what will happen with KASW in Phoenix. None of the news articles I read have mentioned KASW, just KTVK. I guess we'll find out when they file with FCC.

 

[oldtimeradio]

Doesn't Gannett also own the channel 51 cluster in Phoenix-Tolleson?

 

[michael hagerty]

Doesn't Gannett also own the channel 51 cluster in Phoenix-Tolleson?

No. It's a joint sales agreement. Ion owns the license, but KPNX salespeople sell the local ad time.

 

[oldtimeradio]

Ah. That's where I made my mistake. Thanks.

 

[EricStein]

The whole NBC affiliate agreement with PAX (now ION) was over years ago. ION now sells their own advertising on KPPX.

By the way, where is Mr. Sander getting all this money to buy these stations? He may be a millionaire, but I don't think he has $100M stored in his bank.

 

[michael hagerty]

The whole NBC affiliate agreement with PAX (now ION) was over years ago. ION now sells their own advertising on KPPX.

By the way, where is Mr. Sander getting all this money to buy these stations? He may be a millionaire, but I don't think he has $100M stored in his bank.

Eric: Thanks. I missed the end of the agreement.

As for Sander, he mentioned in one of the articles putting together investors. There'll probably be a bank loan in there somewhere. That's not the kind of people many people or companies would do with their own money even if they had it (not to say that Jack won't have some of his own money in it).

 

[KeithE4]

As for Sander, he mentioned in one of the articles putting together investors. There'll probably be a bank loan in there somewhere. That's not the kind of people many people or companies would do with their own money even if they had it (not to say that Jack won't have some of his own money in it).

So I take it that there will be no Gannett money involved?

 

[michael hagerty]

As for Sander, he mentioned in one of the articles putting together investors. There'll probably be a bank loan in there somewhere. That's not the kind of people many people or companies would do with their own money even if they had it (not to say that Jack won't have some of his own money in it).

So I take it that there will be no Gannett money involved?

I don't know if that would be legal. Anybody who actually knows instead of guessing: Is there any percentage of investment they could have and not be in violation of the ownership regs?

 

[formeraa]

I don't know if that would be legal. Anybody who actually knows instead of guessing: Is there any percentage of investment they could have and not be in violation of the ownership regs?

I can't speak for the Communications industry, but typically government regulators will frown on DIRECT investments in these types of cases. However, Gannett's investors could and most likely will invest in the new company.

 

[powergate92]

As for Sander, he mentioned in one of the articles putting together investors.  There'll probably be a bank loan in there somewhere.  That's not the kind of people many people or companies would do with their own money even if they had it (not to say that Jack won't have some of his own money in it).

So I take it that there will be no Gannett money involved?

I don't know if that would be legal.  Anybody who actually knows instead of guessing:  Is there any percentage of investment they could have and not be in violation of the ownership regs?

According to TVNewsCheck: "Gannett is guaranteeing loans that will enable Sander to buy the stations." So yes, the money is coming from Gannett. http://www.tvnewscheck.com/article/68316/lougee-belo-duops-will-keep-independence

 

[michael hagerty]

As for Sander, he mentioned in one of the articles putting together investors. There'll probably be a bank loan in there somewhere. That's not the kind of people many people or companies would do with their own money even if they had it (not to say that Jack won't have some of his own money in it).

So I take it that there will be no Gannett money involved?

I don't know if that would be legal. Anybody who actually knows instead of guessing: Is there any percentage of investment they could have and not be in violation of the ownership regs?

According to TVNewsCheck: "Gannett is guaranteeing loans that will enable Sander to buy the stations." So yes, the money is coming from Gannett. http://www.tvnewscheck.com/article/68316/lougee-belo-duops-will-keep-independence

Only if Sander defaults.

 

[landtuna]

As for Sander, he mentioned in one of the articles putting together investors. There'll probably be a bank loan in there somewhere. That's not the kind of people many people or companies would do with their own money even if they had it (not to say that Jack won't have some of his own money in it).

So I take it that there will be no Gannett money involved?

I don't know if that would be legal. Anybody who actually knows instead of guessing: Is there any percentage of investment they could have and not be in violation of the ownership regs?

According to TVNewsCheck: "Gannett is guaranteeing loans that will enable Sander to buy the stations." So yes, the money is coming from Gannett. http://www.tvnewscheck.com/article/68316/lougee-belo-duops-will-keep-independence

Only if Sander defaults.

I was thinking the same thing. Wouldn't a "guarantee" be the same as a co-signer?

 

[michael hagerty]

As for Sander, he mentioned in one of the articles putting together investors. There'll probably be a bank loan in there somewhere. That's not the kind of people many people or companies would do with their own money even if they had it (not to say that Jack won't have some of his own money in it).

So I take it that there will be no Gannett money involved?

I don't know if that would be legal. Anybody who actually knows instead of guessing: Is there any percentage of investment they could have and not be in violation of the ownership regs?

According to TVNewsCheck: "Gannett is guaranteeing loans that will enable Sander to buy the stations." So yes, the money is coming from Gannett. http://www.tvnewscheck.com/article/68316/lougee-belo-duops-will-keep-independence

Only if Sander defaults.

I was thinking the same thing. Wouldn't a "guarantee" be the same as a co-signer?

That's exactly what guaranteeing loans means.

 

[dgendvil]

Oh by the way if Gannett/Belo could likely sell channel 3/61, could Tribune be a perfect fit? They've just bought 19 stations from Local TV LLC, but they're mainly Fox & CW stations. First Tribune could likely get channels 3/61 & that they swap one of those stations from Media General (despite if Tribune also may or may not be interested in fellow independent KRON 4 in San Francisco).

They probably need to swap these stations:

KTVK/KASW could likely go to Tribune

plus:

KRON could likely go to Tribune

for those non Fox/CW affiliated stations (that may likely go to Media General or maybe Gannett anyway):

KFOR (NBC)/KAUT (Ind.) Oklahoma City
WREG (CBS) Memphis
WNEP (ABC) Scranton-Wilkes Barre
WTVR (CBS) Richmond (Media General may not get that station because they own the Richmond Times Dispatch because of the FCC cross ownership rules, but Gannett might or may not be interested in that station)
WHO_TV (NBC) Des Moines (Gannett owns the Des Moines Register)
WQAD (ABC) Moline/Davenport
KFSM (CBS)/KNXV (My) Fort Smith, AR

So who knows what might happen next in that saga?