New Vision veterans John Heinen, Eric Simontis, Steve Spendlove and Dennis Elkin have formed Alchemedia and are talking with private equity firms and hedge funds. They hope to begin buying stations in large and medium-size markets in the near future.
Bob Saunders, president of the broadband DSL cable provider, sees a business in streaming broadcast signals and other programming via the Internet to paying subscribers in small, rural communities. While broadcasters are wary of others distributing their signals, Saunders says he’s not trying to get something for nothing: “We want to pay retransmission where it’s required. We want to be a good actor on the scene.”
With four significant TV station group deals within the past year, there is a growing number of groups up for sale. But right now few buyers are willing to pay the multiples that the sellers are demanding. “Owners are either going to have to take lower prices and come out under water or hold stations for another two years,” says broker Larry Patrick.
“We are a very financially disciplined company,” said LIN CEO Vincent Sadusky. “We have no interest in getting bigger for bigger’s sake.… We do believe this is an accretive deal and there are opportunities to create further duopolies. We like the transaction, we like the mix of assets, we think it makes this entity stronger.”
LIN is acquiring network affiliates in eight markets: Portland, Ore. (DMA 22); Birmingham, Ala. (DMA 39); Wichita, Kan. (DMA 67); Honolulu (DMA 71); Savannah, Ga. (DMA 92); Youngstown, Ohio (DMA 110); Topeka, Kan. (DMA 136); and Mason City, Iowa (DMA 153). The price: $330.4 million and the assumption of $12 million of debt.
Joint news operations of KTKA, KSNT and KTMJ kicked off following FCC approval of the sale of KTKA.
Deployed at more than 60 US television stations, SpotMixer.tv, an online video creation solution designed for local ad sales and production teams, has been added as a sales tool by Fisher Communications and New Vision Television stations.
The commission approves the purchase of the Topeka ABC affiliate by PBC Broadcasting from Free State Communications despite an objection by the American Cable Association that the deal would likely create a triopoly with expected KTKA operator New Vision, which owns NBC affiliate KSNT and low-power Fox affil.
The cable trade group alleges that the ABC-NBC-Fox triopoly resulting from the sale would give New Vision Television undue bargaining power in its retrans negotiations with cable and satellite operators and ultimately drive up cable rates for consumers.
Maybe so. PBC Networks, New Vision’s virtual duopoly partner in Youngstown and Savannah, is buying ABC affiliate KTKA in Topeka, Kan., where it could be operated by New Vision in tandem with its NBC affiliate there, KSNT. The seller in Topeka is the owner of the local paper, which has no other broadcast interests. Price was $1.5 million, according to one source.
Greg Berry, news director at New Vision CBS affiliate KIMT Rochester, Minn., will be leaving to become assistant news director at WIAT, New Vision’s CBS affiliate in Birmingham, Ala.
Inergize Digital, provider of fully integrated digital management solutions for local media companies on-air, online and on mobile devices, today announced it has renewed a multi-year contract with all 13 […]