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Rincon is Selling Off Their Stations

Y2kTheNewOldies

Y2kTheNewOldies

www.ftvlive.com

Rincon is Selling Off Their Stations — FTVLive

While Sinclair is not involved, don’t be surprised when they enter the chat…
www.ftvlive.com www.ftvlive.com

It will be interesting to see who gets the divested Rincon stations given where we are now with local TV stations.

FCC filings reveal that Rincon is selling its portfolio of 11 television stations—including major market players like WHBQ in Memphis and KOKI in Tulsa—to Community News Media for a cool $116.5 million. If the buyer’s name sounds familiar, it should. Community News Media is the affiliate of Soohyung Kim’s Standard Media, the very group that just sold several of these exact stations to Rincon back in February.

It’s the ultimate "never mind" in the world of broadcast M&A. Parkin, a former Bally Sports executive, is essentially handing the keys back to Soo Kim and CEO Deb McDermott just weeks after the original deal closed. The sale includes a mix of Fox, ABC, and CBS affiliates spanning from Providence to Yuma, along with a handful of stations in the Upper Midwest like KLKN in Lincoln and WVTV in Milwaukee.

Industry insiders are already whispering that this isn't the final destination for these stations. Rumors are swirling that Soo Kim—who is still clearly feeling the sting after his multi-billion dollar attempt to buy Tegna was derailed by the feds—might just be holding these for a quick hand-off to Sinclair.
Click to expand...
 
Seems like a partially dated report... Sinclair already took over KOKI Tulsa and WLNE Providence and moved their intellectual property to subchannels of their stations (KOKI's Fox affiliation to Sinclair's KTUL 8.2, WLNE's ABC affiliation to Sinclair's WJAR 10.2, rebranded as "Coastal ABC"). The Rincon outlets are just running a feed of Sinclair's Roar digital network.
 
Same Story here in Yakima. Sinclair Took Over, Moved Fox to 29.3. ROAR moved to 41.1 and just moved it's Yakima News Operation to the Tri-Cities
 


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