While conversations between broadcasters and car makers are just starting, ATSC 3.0 proponents say that given the three-to-five-year build cycle of a typical new model it’s crucial to get 3.0 receiver chips into car makers’ design plans by next spring so they’re ready to roll in 2024, by which time next-gen stations will be broadcasting across the U.S.
Tegna, Tribune, Scripps, Fox and Graham are among a growing number of TV broadcasters who are exploring adding audio content and advertising platforms. A study from the Interactive Advertising Bureau and PricewaterhouseCoopers puts podcast ad revenues at $313.9 million in 2017, and projects that it will more than double, to $659 million, by next year.
For right now, the company says it’s focused on integrating all its recently-acquired stations. But, said CEO Adam Symson, “it won’t be long before we’re positioned again to pursue accretive M&A.”
Much of that increase was fueled by a 21% rise in retransmission consent revenue to $85.4 million.
The $521 million deal adds 15 stations in 10 markets to Scripps’ portfolio and bumps up its reach to nearly 21% of U.S. TV households.
Scripps-owned Newsy has added five more bureaus and expanded beyond a collection of online and mobile news packages to an OTT channel and to 38 million cable homes. And while Newsy bills itself as a “next-generation news network” aimed at millennials, its distinctive approach has valuable lessons for local broadcasters striving to adapt to a changing competitive landscape.
Scripps chooses the local TV sales and management veteran to lead its California ABC affiliate.
The Justice Department is OK with Nexstar’s spin-offs of eight TV stations to Scripps, part of its deal to acquire Tribune. Scripps is buying eight stations in seven markets for $580 million. The sale keeps Nexstar on the right side of FCC ownership limits.
The FCC has approved the sale of Cordillera Communications TV stations to Scripps plus the sale of one Cordillera station to Quincy. In fact, the sale of the Cordillera stations is contingent on that spin-off of KVOA Tucson. Scripps has also been given permission to continue operating Cordillera’s KBZK Bozeman, Mont., as a satellite of Cordellera’s KXLF Butte.