station trading

The purchase of KNXT-LP Bakersfield, Calif., by My Central Valley LLC tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

TVNewsCheck‘s Michael Depp and Harry Jessell discuss Gray Television’s acquisition of Meredith and other potential moves on the M&A chessboard, along with changes at the top at CBS’s stations.

The purchase of Meredith Corp.’s 17 TV stations by Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Gray CEO Hilton Howell said today’s $2.7 billion purchase of Meredith’s stations fits with Gray’s strategy of adding stations in key states for heavy political ad spending.

It’s getting 17 stations in 12 markets and will spin off its Flint, Mich., ABC affiliate WJRT since it’s acquiring CBS affil WNEM there. With a combined net revenue exceeding $3.1 billion on a blended 2019-20 basis, Gray said its acquisition of Meredith’s television stations will transform Gray into the nation’s second largest television broadcaster.

The sale follows Gray’s purchase earlier this year of Quincy Media and comprises stations in markets in which Gray already owns stations.

The purchase of KJYY-LD Portland, Ore., by Roseland Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of K31MK-D Lawton, Okla., by Grey Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of KYMU-LD Tacoma, Wash., by Sovryn Holdings tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

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

Meredith Corp. is considering selling its television stations, according to people familiar with the matter, a move that would focus the media conglomerate on its magazine division. Meredith is working with a financial adviser on the potential divestiture, said the people, who asked to not be identified because the matter isn’t public.

The purchase of KGBT Harlingen, Texas, by Mission Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of KWKB Iowa City and KPNZ Ogden, Ore., by Faith Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of KVVV-LD Houston by Sovryn Holdings tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of KNET-CD and KNLA-CD by Sovryn Holdings tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of W41DO-D New York., by Major Market Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of KBCB Bellingham, Wash., by Radiant Life Ministries tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of Quincy Media by Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Upon closing the transaction, Gray will own television stations serving 102 television markets that collectively reach 25.4% of U.S. television households.Gray said it will divest Quincy’s stations in the following markets in which Gray also owns a full-power television station: Tucson, Arizona; Madison, Wis.; Paducah-Harrisburg, Ky.-Ill.; Cedar Rapids, Iowa; La Crosse-Eau Claire, Wis.; and Wausau-Stevens Point, Wis.

The purchase of WTMH Kinston, N.C. by HTM 26 from Tutt Media Group tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of WWCP Johnstown, Pa., from Horseshow Curve Communications by Cunningham Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Scripps says the transaction provides about 60% accretion in free cash flow per share. It gives it a portfolio of 60 stations in 41 markets.

All of Quincy and four Meredith stations are being prepped for sale, with second-round bids due to the sellers in the week of Jan. 18. Quincy could command as much as $1 billion. Entire Meredith group may be in play.

The transfer of two stations from McDermott Communications to Paducah Television Operations tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Scripps purchased WPIX as part of its acquisition of eight television stations in seven markets from Nexstar. Those stations were being divested in connection with Nexstar Media Group’s acquisition of Tribune Media in September 2019. Scripps granted Nexstar the option to buy back WPIX. The option expired at the end of 2021. Nexstar assigned its option to Mission Broadcasting, and Mission exercised the option.

The FCC’s Media Bureau has approved the Univision Holdings sale of majority ownership interest in the Spanish-language media company and its broadcast properties (65 TV stations and 58 radio stations) to investment firms Searchlight Capital Partners and ForgeLight. The bureau’s approval is conditioned on the sale of three Puerto Rico TV stations — WLII and two satellites, WSUR and WOLE — to comply with FCC local ownership rules.

The FCC has given permission for the license transfer, and the IRS has granted tax-exempt status, Vermont PBS and VPR announced. The television station and radio network will operate independently until July.

The purchase of two stations by Community News Media from Sinclair Broadcast Group Holdings tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of four stations by Weigel Broadcasting from HC2 Holdings tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of five Texas stations by Gray Television from Ramar Communications tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of 26 former Ion Media stations by INYO Broadcast Holdings from E.W. Scripps tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

KJTV and a translator go to SagamoreHill Broadcasting, while KLCW, KMYL-LD and KXTQ go to Gray Television.

In addition to traditional programming, Sinclair plans to use channel capacity from one of the stations to provide advanced “Broadcast Internet” services. “We now have a prime showcase for the amazing features of NextGen TV that members of Congress and the Federal Communications Commission can witness first-hand,” said Chris Ripley, Sinclair’s president-CEO.

On Sept. 24, one of the biggest broadcast media mergers in recent memory was announced. The E.W. Scripps Co. is agreeing to buy Ion Media — the broadcast media network with roots in the Paxton family media operation — for $2.65 billion. The deal will not run afoul of FCC Top 4 regulations, as Scripps said it will divest of 23 Ion stations. On Oct. 14, details regarding those station spinoffs became known, thanks to an FCC filing by Ion.

The purchase of KTNC Concord, Calif., by Radiant Life Ministries tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The purchase of Ion Media Networks, by E.W. Scripps tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

One rarely hears about a station group deciding not to pursue lucrative retransmission consent fees but when E.W. Scripps agreed to acquire Ion Media for $2.65 billion, it said the Ion stations would stick to must-carry. Analysts initially said they were surprised by the unusual strategy and asked about it during a conference call in which Scripps executives went over details of the transaction.

It will combine it with Scripps’ Katz networks and Newsy “to create a full-scale national television networks business” and will spin off  23 of Ion’s 71 stations to comply with FCC ownership regulations. Scripps has agreed to a transaction with a buyer, who has agreed to maintain Ion affiliations for the stations. Warren Buffett’s Berkshire Hathaway gets a warrant to purchase as many as 23.1 million Class A Scripps shares as part of the deal.

The purchase of WARZ-CD Raleigh-Durham, N.C., by Capitol Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.