LIN Media CEO Vince Sadusky says that the winning bid for the troubled Freedom stations will be “an important benchmark for the TV broadcasting industry.” Sadusky reiterated that LIN Media could be a buyer or seller in a revived station market. He also says he can see day when retrans fees exceed $1 per sub, per month.
The asking price for the eight TV stations works out to eight to 10 times estimated 2010 cash flow of $50 million. There are a number of potential buyers for the Freedom stations, particularly in a piecemeal sale. They include Gannett, LIN, Nexstar, Gray, Young’s new owners and Newport. All of those group owners own or run stations in Freedom markets.
Thomas R. Herwitz, the former head of Fox’s station operations is succeeding Doreen Wade as president of Freedom’s eight TV stations.