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Nexstar ready to hook up with TEGNA?


thedesk.net

States may sue to block Nexstar-TEGNA deal

The transaction still requires DOJ review, and approval may hinge on FCC ownership rule changes, waivers or station divestitures.
thedesk.net thedesk.net

Here is an update on the proposed Nexstar/Tegna deal as it needs to go through states review.

A group of states is preparing a legal challenge to Nexstar Media Group’s proposed $6 billion acquisition of TEGNA if the deal receives approval from the Federal Communications Commission (FCC), according to a report published on Friday.

The report, from the Wall Street Journal, said some state attorneys general feel allowing Nexstar to acquire TEGNA would give one company too much power over the local broadcast television landscape in their communities.

The states weighing the action include California, Colorado and New York, which have a number of Nexstar and TEGNA-owned stations in their cities. In California, Nexstar and TEGNA own stations in Los Angeles, San Francisco, Bakersfield, San Diego, Sacramento and Fresno; in Colorado, TEGNA owns KUSA (Channel 9) while Nexstar owns KDVR (Channel 31) and KWGN (Channel 2), all located in the same market. Both own a handful of stations in New York as well.
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thedesk.net

Nexstar launches "Invest in America" news series as company await approval for TEGNA deal

Nexstar has launched a nation-wide news initiative that spotlights economic development and infrastructure investments.
thedesk.net thedesk.net

Nexstar Media Group has launched a nation-wide news initiative that spotlights economic development and infrastructure investments across the country.

The initiative, called “Investing in America,” comes as the broadcaster awaits approval from the Trump administration for its proposed $6 billion acquisition of TEGNA and about two weeks after the company began issuing pink slips in the news and marketing departments of its largest local TV stations.

Officially, the Investing in America news campaign kicked off last week, though Nexstar only publicized the effort in a press release on Monday. The program will highlight communities driving growth through projects related to infrastructure modernization, workforce development, housing, education, small business expansion and emerging technologies, Nexstar said.
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thedesk.net

CWA to make five proposals to Nexstar shareholders, asks for vote at annual meeting

Measures include proxy access for board nominations, the ability for shareholders to call special meetings and limits on poison pill provisions.
thedesk.net thedesk.net

  • The Communications Workers of America plans to back five governance proposals at Nexstar’s annual meeting aimed at increasing shareholder oversight.
  • Measures include proxy access for board nominations, the ability for shareholders to call special meetings and limits on poison pill provisions.
  • The union also criticized CEO Perry Sook’s leadership and Nexstar’s pursuit of its proposed TEGNA acquisition.
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Here is Nexstar attempting to put a good image out there as they wait for the Tegna Merger to be approved and finalized.
 
I notice that our St. Louis Tegna station's newscasts are no longer copyrighted by TEGNA but by "Multimedia KSDK LLC," which has a legal address of TEGNA Inc. Looks like they're ready to divide up the broadcast properties.

Since Nexstar already owns KTVI and KPLR, at least one of the three stations would have to be sold.
 
Steel Nerves said:
I notice that our St. Louis Tegna station's newscasts are no longer copyrighted by TEGNA but by "Multimedia KSDK LLC," which has a legal address of TEGNA Inc. Looks like they're ready to divide up the broadcast properties.
Click to expand...
Multimedia...now there's a name from the past (as you probably know).
 
Steel Nerves said:
I notice that our St. Louis Tegna station's newscasts are no longer copyrighted by TEGNA but by "Multimedia KSDK LLC," which has a legal address of TEGNA Inc. Looks like they're ready to divide up the broadcast properties.
Click to expand...
Many stations use their local “legal” business identity for the copyright, but it’s basically legalese that will vary by market or area. TEGNA is still the corporate parent. It has nothing to do with the merger.
Steel Nerves said:
Since Nexstar already owns KTVI and KPLR, at least one of the three stations would have to be sold.
Click to expand...
Wrong. The Nexstar-TEGNA deal is seeking to have current caps waived, expanded, or eliminated.
 
www.ftvlive.com

DirecTV Tries Slamming the Brakes on Nexstar/Tegna Deal — FTVLive

It’s a hail-Mary that will likely fall incomplete…
www.ftvlive.com www.ftvlive.com

www.ftvlive.com

Union Launches Shareholder Revolt to Block Nexstar-TEGNA Acquisition — FTVLive

Not only is it DirecTV, but a union is also trying to shakeup the Nexstar Tegna deal….
www.ftvlive.com www.ftvlive.com

Here is more on the roundup between Tegna/Nexstar merger.

Now a Nexstar talent from their Hartford, CT affiliate leaves the station.

www.ftvlive.com

Another One Leaving the Business — FTVLive

Another Nexstar Anchor to exit the business…
www.ftvlive.com www.ftvlive.com
 
thedesk.net

Report: Nexstar wants $2.75 billion bank loan for TEGNA acquisition

A group of major banks led by Bank of America are arranging a $2.75 billion leveraged loan to help finance Nexstar Media Group’s proposed acquisition of TEGNA.
thedesk.net thedesk.net

Here is more on Nexstar as it attempts to get Tegna.

A coalition of household-name financial institutions are considering a leverage loan worth $2.75 billion to help Nexstar Media Group fund its proposed acquisition of peer broadcaster TEGNA, according to a report published this week.

The report, from Bloomberg, said Bank of America has taken a leading role in organizing the leveraged loan, a type of high-risk commercial loan that is offered to borrowers with a sizable amount of existing debt or below-investment grade credit ratings.

At the end of December, Nexstar counted more than $6 billion in debt associated with its own operations and that of Mission Broadcasting, another company whose broadcast stations are entirely controlled by Nexstar. Mission’s various acquisitions of local TV stations have been bankrolled by Nexstar over the past few years as part of a strategy that allows Nexstar to operate local TV stations without exceeding federal ownership restrictions.
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thedesk.net

Report: Nexstar wants $2.75 billion bank loan for TEGNA acquisition

A group of major banks led by Bank of America are arranging a $2.75 billion leveraged loan to help finance Nexstar Media Group’s proposed acquisition of TEGNA.
thedesk.net thedesk.net

Here is more on Nexstar as it attempts to get Tegna.

A coalition of household-name financial institutions are considering a leverage loan worth $2.75 billion to help Nexstar Media Group fund its proposed acquisition of peer broadcaster TEGNA, according to a report published this week.

The report, from Bloomberg, said Bank of America has taken a leading role in organizing the leveraged loan, a type of high-risk commercial loan that is offered to borrowers with a sizable amount of existing debt or below-investment grade credit ratings.

At the end of December, Nexstar counted more than $6 billion in debt associated with its own operations and that of Mission Broadcasting, another company whose broadcast stations are entirely controlled by Nexstar. Mission’s various acquisitions of local TV stations have been bankrolled by Nexstar over the past few years as part of a strategy that allows Nexstar to operate local TV stations without exceeding federal ownership restrictions.
Click to expand...
 
thedesk.net

Opponents of Nexstar-TEGNA merger accuse CEO Perry Sook of "doublespeak"

Opponents of Nexstar’s TEGNA acquisition say CEO Perry Sook’s comments contradict claims made to regulators about market challenges.
thedesk.net thedesk.net

Here is more on the proposed Tegna/Nexstar deal.
www.ftvlive.com

Helping His Dad, Who was Kicked to the Curb by Nexstar — FTVLive

His dad was kicked to the curb by Nexstar, but this son is doing his best to help dad land on his feet.
www.ftvlive.com www.ftvlive.com

And another person has been removed from Nexstar this time from WTVO-TV.



Hello Social Media World. I do not post much, and I definitely do not normally do this, but my family needs some help. My father, Bill Partridge, has been working for WTVO Channel 17/FOX Channel 39 for over 40 years. He has been directing, shooting, and editing local commercials for Rockford, Illinois’ news market for most of those years. If you grew up in Rockford, or if you allow yourself to watch the local television commercial breaks today, I guarantee you know my Dad’s voice or recognize a famous Rockford Tagline he's been a part of. So many of the local small businesses in Rockford have worked with my Dad in some way, shape, or form. He has honestly loved doing this job day in and day out. Unfortunately, after over 20 years of making commercials and 40 years of employment, his department is being eliminated. All of this is happening right as he turned 65 on the 27th of February. Now he needs to find a new job at 65, which is already difficult in today's world. I am saying all of this because I really believe there is an alternative route. He is still able to do some freelance work using his talents. The only issue is that camera equipment, lighting equipment, editing software, and all the expenses required to work in the industry cost a lot of money. With that said, I am asking anyone willing to help my Dad out to consider donating a little money to the GoFundMe. I think it would be great to raise some money so he can afford to buy equipment and create some more local Rockford Commercials. If you are unable to donate, I totally understand. Share this post, I bet you someone who has worked with my Dad will see it. Thank you so much for your time.
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This merger isn’t going to go through. Theres a reason why Gray quietly backed out of their deal with some of the Allen Media Stations. They see the writing on the wall.
 
Steel Nerves said:
I notice that our St. Louis Tegna station's newscasts are no longer copyrighted by TEGNA but by "Multimedia KSDK LLC," which has a legal address of TEGNA Inc. Looks like they're ready to divide up the broadcast properties.

Since Nexstar already owns KTVI and KPLR, at least one of the three stations would have to be sold.
Click to expand...
Hopefully KSDK could be spun off directly to NBC as an O&O.

That would be the only way it seems that their 24-hour news channel from NBC O&Os could get into our Comcast headend's streaming lineup (which also appears on the 4000s if you have an X1 box)--even though we are about 90 miles away from St. Louis (Chatham, IL, which is connected to the Springfield headend and gets their lineup except for two Springfield local government and educational access channels that are blocked out down here).

And if it was up to me, KMOV and KTVI would go back to O&Os (CBS and Fox respectively). Maybe ABC could split off KPLR from Nexstar/KTVI and finally return the network to a VHF virtual number for the first time in 31 years, and Sinclair could be free to make KDNL one of their "subchannel only" stations.

Making all St. Louis Big Four stations O&Os.
 
thedesk.net

California, other states sue to block Nexstar-TEGNA merger

The attorneys general of California and eight other states have filed a federal lawsuit seeking to block Nexstar Media Group's proposed $6 billion acquisition of peer broadcaster TEGNA.
thedesk.net thedesk.net

Here is an update the California Attorney General has filed a lawsuit against the Nexstar/Tegna merger. Yes this is given that the papers for lawsuit were filed in Sacramento given that its one of the TV Markets affected by the Nexstar/Tegna merger such as Nexstar owning KTXL and Tegna owning KXTV.
 
Tim from Springfield IL said:
Hopefully KSDK could be spun off directly to NBC as an O&O.

{…}

And if it was up to me, KMOV and KTVI would go back to O&Os (CBS and Fox respectively). Maybe ABC could split off KPLR from Nexstar/KTVI and finally return the network to a VHF virtual number for the first time in 31 years, and Sinclair could be free to make KDNL one of their "subchannel only" stations.

Making all St. Louis Big Four stations O&Os.
Click to expand...
While you’re at it, let’s see if Alfonso (A.J.) Cervantes can rise from the dead and fix all of downtown St. Louis’ problems and get all the houses that lost their roofs in last year’s tornado re-roofed.

More seriously and to the point, I think there are markets that any network would be more interested in before picking up a St. Louis station. Quite a few markets have raced ahead of St. Louis in size and profitability compared to the days when Channel 4 was a CBS O&O. KSDK (Channel 5) is a good station, and Nexstar will no doubt degrade it to shallow cookie-cutter stuff, but, when TV stations are being traded around like hog bellies, track records and heritage, unfortunately, don’t matter.

Mediafrog+ said:
Once again, no stations are being spun off as part of the planned Nexstar-TEGNA merger. Nexstar is seeking to have the caps waived, relaxed or eliminated. Whether all that is allowed we have yet to see, but don’t assume any divestitures will be required.
Click to expand...
One thing is certain: lawyers and investment bankers will make out, especially considering that the road to this merger will have lots of speed bumps.
 


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