Tegna Deal Critics Say FCC Needs More Data

Critics of the $8 billion-plus purchase of Tegna’s TV station group by investment fund Standard General have told the FCC it needs to collect more data on the proposed merger before it rules on whether it is in the public interest. Common Cause, joined by the NewsGuild-CWA union and Public Knowledge, have filed a formal motion for both additional documents that the FCC and the public can peruse and an extension of time to weigh in. Currently, the FCC has set a May 23 deadline for those wishing to formally oppose the deal.

WEEK ENDING MAY 9

Station Trading Roundup: 1 Deal, $1,000,000

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

Good News Broadcasting Closes On Purchase Of K14RK Phoenix

Low-power TV station K14RK Phoenix has been sold to Good News Broadcasting Network, a religious broadcaster based in Scottsdale, Ariz. The sale price was $1,215,000. The station was sold by Spanish Independent Broadcast Network. The facility is 15,000 watts from the tower farm at South Mountain. Good News Broadcasting is led by Luke Skelton. It […]

WEEK ENDING MAY 2

Station Trading Roundup: 1 Deal, $25,000

The purchase of KMSQ-LD Mesquite, Nev., by Center Point Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Cox Media Closes On Two Eugene, Ore., Stations

The $7.2 million purchase from California Oregon Broadcasting adds KLSR (Fox) and KEVU (MNT) to the group’s TV station portfolio.

WEEK ENDING APRIL 25

Station Trading Roundup: 1 Deal, $10,700,000

The purchase of WHIZ Zanesville, Ohio, by Marquee Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

WHIZ-TV And Radio Sold To Marquee Broadcasting

Marquee is buying the Zanesville, Ohio, NBC affiliate and four radio properties from the Littick family.

WEEK ENDING APRIL 11

Station Trading Roundup: 2 Deals, $375,000

The purchase of WKSY-LD Summerville Trion, Ga., by Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

WEEK ENDING APRIL 4

Station Trading Roundup: 2 Deals, $155,000

The purchase of KMCE-LD Monterey, Calif., by Major Market Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

NewsGuild Urges Review Of Apollo Financing Of Tegna Buyout

Tegna Shareholder Sues, Claiming Takeover Filings Are ‘False And Misleading’

A Tegna shareholder has sued the broadcaster and its board seeking to enjoin the company from closing its sale to Standard General because its proxy statements are “false and misleading.” Marc Waterman, who says in the suit he is an owner of Tegna common stock, filed the suit in the United States District Court on March 30.

Cox Sells 18 Stations In 12 Markets To INSP

Among them are WHBQ Memphis, KAYU Spokane, and KOKI-KMYT Tulsa, Okla.

WEEK ENDING MARCH 28

Station Trading Roundup: 1 Deal, $115,000

The purchase of WBFT-CD Sanford, N.C., by Radiant Life Ministries tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

WEEK ENDING MARCH 21

Station Trading Roundup: 2 Deals, $1,650,000

The purchase of four low-power stations by Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Sale Of Bowling Green LPTV Construction Permit Closes

Marquee Broadcasting Kentucky Inc. has closed on the purchase of the construction permit for W16EI-D Bowling Green, Ky., from King Forward Inc. The purchase price was $30,000. Bob Heymann of the Chicago office of Media Services Group served as the exclusive broker for the seller.

WEEK ENDING MARCH 78

Station Trading Roundup: 3 Deals, $510,000

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

WEEK ENDING FEB. 28

Station Trading Roundup: 3 Deals, $7,222,000

The purchase of KLSR and KEVU-CD Eugene, Ore., plus seven translators by Cox Media Group tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Cox Media Buying KLSR-KEVU Eugene, Ore.

The Fox-MNT duopoly has been owned by California Oregon Broadcasting Inc. since 1993.

Standard General Says Change Will Be Good For Tegna

Change is coming to Tegna. Standard General, which won a drawn-out auction for the broadcaster, believes local stations are valuable assets even as most of the television industry pivots to streaming. If Standard General thought local stations were being made obsolete by cord-cutting and the other forces eroding traditional ratings, then “we’re not making an investment this large,” Standard General founding partner Soo Kim says.

JESSELL AT LARGE

Kim Gets A Win In Tegna Buy, But Will Journalism Lose?

Hedge fund investor Soo Kim takes a long-sought prize in Tegna’s sale to Standard General and Apollo Global Management. The deal has many layers to tease out and potential regulatory headwinds, along with questions about the new regime’s depth of commitment to news.

WEEK ENDING FEB. 21

Station Trading Roundup: 4 Deals, $1,968,500

The purchase of WSPF-CD St. Petersburg, Fla., by Faith Broadcasting Network tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Tegna Selling To Standard General For $5.4 Billion

Following the close of the $24-a-share transaction, Deb McDermott will continue to lead the group. Tegna stations in Austin (KVUE), Dallas (WFAA and KMPX) and Houston (KHOU and KTBU) are expected to be acquired by Cox Media Group from Standard General. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General.

WEEK ENDING FEB. 7

Station Trading Roundup: 2 Deals, $30,030,000

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

Gray Buys Telemundo Affiliate WKTB Atlanta

The station group buys the station from Capital Media Group and taps Capital’s Susan Sim Oh (pictured) to lead and expand Gray’s Telemundo station portfolio, while Coline Sim will oversee the station’s operations.

Tegna In Advanced Sale Talks With Standard General

Tegna is in advanced discussions with one of its largest shareholders, Standard General, about a potential buyout at about $24 a share.

Broadcast Station Deals Totaled Only $4.72B In 2021

While broadcast station advertising revenue has rebounded from its lows in 2020 during the pandemic lockdowns, a new analysis from Kagan shows that deal making for broadcast stations remains at near historical lows. However, year-end numbers for 2021 are higher than in 2020 giving reason for some cautious optimism for 2022, noted Volker Moerbitz, the lead analyst for the Kagan report.

WEEK ENDING JAN. 31

Station Trading Roundup: 2 Deals, $90,000

The purchase of two LPTV construction permits in Palm Springs, Calif., and Beaumont, Texas, by Major Market Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

LPTV CPs Sold in Palm Springs, Beaumont, Bowling Green

Mako Communications, a Texas limited liability company, has agreed to sell the construction permits for low-power television stations K28QM-D Beaumont, Texas, and K25QM-D Palm Springs, Calif., to Major Market Broadcasting of California. The sale price is $60,000. Also, Marquee Broadcasting Kentucky has agreed to purchase the construction permit for W16EI-D, Bowling Green, Ky., from King […]

TVN FOCUS ON BUSINESS

Bumping Against Cap, Station Groups Have Their M&A Wings Clipped

With no ownership cap relief in sight from the FCC, broadcasters look to pick up ones and twos along with pursuing other avenues to grow their businesses. Meanwhile, the industry waits to see if Tegna will be sold. Note: This story is available to TVNewsCheck Premium members only. If you would like to upgrade your free TVNewsCheck membership to Premium now, you can visit your Member Home Page, available when you log in at the very top right corner of the site or in the Stay Connected Box that appears in the right column of virtually every page on the site. If you don’t see Member Home, you will need to click Log In or Subscribe.

Talking TV: FCC Ownership Cap Keeps A Lid On TV Station M&A

TVNewsCheck‘s Michael Depp and Paige Albiniak look at the M&A prospects possible in 2022 with the FCC’s 39% ownership cap still in place and where things stand on a potential Tegna sale.

WEEK ENDING JAN. 24

Station Trading Roundup: 6 Deals, $24,223,000

The purchase of KQDS Duluth, Minn.; KBRR Thief River Falls, Minn.; KVRR Fargo, N.D.; and KNRR Pembina, N.D., and seven translators by Forum Communications tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Standard General, Apollo Close In On $9B Deal For Tegna, Sources Say

Standard General and Apollo Global Management are closing in on a roughly $9 billion deal for television station owner Tegna, sources close to the situation say. The buyers and Tegna have cleared what sources saw as the major stumbling block: how much the Standard General-Apollo team would need to pay if the deal takes more than a year to clear the FCC and other regulators.

WEEK ENDING JAN. 17

Station Trading Roundup: 1 Deal, $75,000

The purchase of W31EP-D Panama City, Fla., by Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

WEEK ENDING JAN. 10

Station Trading Roundup: 3 Deals, $1,340,000

The purchase of K14RK-D Phoenix by Good News Broadcasting Network tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

WEEK ENDING JAN. 3

Station Trading Roundup: 1 Deal, $3,750,000

The purchase of 24 LPTV stations by Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

WEEK ENDING DEC. 27

Station Trading Roundup: 3 Deals, $715,000

The purchase of K26PS-D Dallas by Radiant Life Ministries tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

WEEK ENDING DEC. 20

Station Trading Roundup: 2 Deals, $28,792,000

The purchase of three stations in Alabama by Allen Media Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

Allen Media Buying Three Montgomery, Ala., Stations For $28.5M

Included are Fox affiliate WCOV as well as WIYC and low-power WALE-LD, both of which feature a variety of programming offerings on a range of subchannels.

WEEK ENDING DEC. 13

Station Trading Roundup: 2 Deals, $2,052,700

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

Tegna’s Sale Talks Run Into Obstacle

Tegna has hit a roadblock in negotiations with suitors who are looking to buy the company in a deal worth $8.4 billion, sources close to the situation say.