station trading

The purchase of two Mississippi translators by 5GTV tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The Najafi Companies and Trinity Broadcasting Network have joined the other companies attempting to acquire Tegna Inc. The two companies’ joint offer is $20 per share for the U.S. broadcast, digital media and marketing services of Tegna. The Najafi Companies is a private global investment firm, while TBN is a faith-and-family broadcaster that says it reaches more than 175 nations.

Gray Television has withdrawn its offer to acquire larger peer Tegna because of concerns about the impact of the coronavirus outbreak on U.S. regional TV station operators, people familiar with the matter said. Gray had offered to buy Tegna for about $8.5 billion, including debt, Reuters reported earlier this month. After Gray’s stock tumbled on the news and concerns about the coronavirus pandemic’s financial impact became widespread, the Atlanta-based company decided this was not the time to pursue the transformative acquisition, one of the sources said.

The purchase of KGMC Clovis, Calif., by Comcast/NBC tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The race to acquire TV station owner Tegna Inc. hinges not just on the price suitors are willing to pay, but also on how much they may give up in terms of assets to win regulatory approval, people familiar with the matter said. All three bidders own TV stations that regulators would require to be divested because of the potential overlap, the sources added.

Media entrepreneur Byron Allen has made an all-cash bid for Tegna and is said to be one of three potential buyers circling the Tysons, Va.-based broadcaster, according to a source familiar with the situation. Allen’s Allen Media Group offered $20 a share, or about $8.5 billion, the source said. It is going up against Gray Television, which last week made a offer, also for $20 a share but in a combination of cash and stock. Private equity firm Apollo Global Management, which recently acquired stations from Cox, is also said to have made a bid.

Gray Television has made an offer to acquire larger peer Tegna Inc for approximately $8.5 billion, including debt, people familiar with the matter said on Friday. A successful bid by Gray would significantly expand its footprint in several TV markets. It underscores the pressure Gray and other companies in the TV station industry are under to gain scale and more pricing power with advertisers and the major networks.

With the deals involving stations in Seattle, Milwaukee, and Charlotte, N.C., Fox Television Stations expands its footprint to 29 stations across the country. Nexstar says it will use the approximately $240 million of net after-tax proceeds from the deals to reduce borrowings under its credit facilities.

The purchase of WLNM-LD Lansing, Mich., by Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of WUCB-LD New York by Spirit Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Univision Communications is in exclusive talks with a bidding group that includes former Viacom CFO Wade Davis for a sale that could value the Spanish-language broadcaster at close to $10 billion including debt, according to people familiar with the matter.

Byron Allen’s Allen Media Broadcasting has completed its $305 million purchase of 11 stations in nine markets from USA Television announced last October.

The purchase of KTBU Conroe, Texas, by Tegna Inc. tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Lowcountry Media sells the Georgia multicast affiliate to TCT Network’s Radiant Life Minstries.

The purchase solidifies its position as the nation’s largest TV broadcast UHF spectrum operator.

The purchase of WHCT-LD Hartford, Conn., by Weigel Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of WQMC-LD Columbus, Ohio, by Urban One tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of WMDN Meridian, Miss., by Sheldon Galloway tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

“You shouldn’t think of us doing something like a station group acquisition,” Fox CFO Steven Tomsic said Tuesday at the UBS Global Technology, Media & Telecommunications Conference.

The purchase of eight stations by WRNN Associates LP tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of nine stations by Standard Media Group tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The $59.2 million purchase from Waypoint Media and VisionCommunications also includes 15 FM and AM stations in three markets, plus Waypoint’s news production operations.

The FCC has backed equity firm Apollo Global Management’s takeover of TV and radio stations owned by Cox Enterprises and Northwest Broadcasting. The FCC approved the transactions, totaling almost $3.5 billion, sought by Apollo-controlled Terrier Media Buyer Inc. Media advocacy groups Common Cause and United Church of Christ opposed the deal, arguing it would reduce local media content and viewpoint diversity.

The sale of three stations by Nexstar Media to Fox Television Stations tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The sale of WYCI Saranac Lake, N.Y. by Cross Hill Communications to Gray Television network tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Nexstar will purchase Charlotte, N.C.’s Fox and MNT affiliates for approximately $45 million while Fox will buy Nexstar’s Seattle Fox and MNT affiliates and Milwaukee’s Fox affil for approximately $350 million.

The sale of KWHB Tulsa, Okla., by Family Broadcasting to Christian TV network tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The FCC isn’t likely to loosen ownership restrictions anytime soon, said leaders from Nexstar, Gray and Meredith last week, but outside money is likely to continue coming into the industry while the ownership cap holds steady. L-r: Patrick McCreery of Meredith, Perry Sook of Nexstar and Pat LaPlatney of Gray. (Photo: Wendy Moger-Bross)

Christian Television Corp. is buying the Oklahoma independent from Family Broadcasting Corp.

The sale of 11 stations to Allen Media from Heartland Media tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchases by Bill Fielder and Stephen Brissette of two stations in Casper, Wyo., and a double affil in Cheyenne, Wyo., come from three different investor groups, managed by one of the principals, Mark Nalbone.

Allen Media Broadcasting is purchasing USA Television’s portfolio of 11 network affiliates in nine markets. Bob Prather has agreed to stay on to manage the group.

W45BT-D Brookville, PA — PRICE: $10,000 BUYER: Sonshine Family Television Corp. (Margaret Huber, president) SELLER: Cornerstone TV Inc. (Steve Johnson, CEO) FACILITIES: DTV Ch.34, 15.000 kW, ant. 482 ft. AFFILIATION: CTV *****   *****   *****   *****   *****   *****   *****   *****   *****   *****   ***** Multistate Deal — PRICE: $2 BUYER: Winemiller, Jeffrey & Janet (Jeffrey Winemiller, co-owner/CEO) […]

Gray gets the go-ahead to buy the NBC affiliate and operate it with the ABC affiliate it already owns in the South Dakota market. The action, in essence, constitutes a waiver of the FCC’s local ownership rules barring ownership of two stations in small markets and of two top-rated stations (typically network affiliates) in all markets.

The sale of KGBY-TV & K36LM-D Grand Junction, Colo., by Chang Broadcasting to Ventura Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The sale of KDMD-LD Tacoma, Wash., by Denver Digital Television to Seattle 6 Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

According to a statement released by the station group, Apollo has proposed first acquiring Tegna and later merging it with Cox Media Group. Apollo struck a deal to acquire Cox in February, but that deal has not yet closed.

The sale of KCOS El Paso, Texas, by El Paso Public Television Foundation to Texas Tech University tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.