station trading

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.

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.

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.

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

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.

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

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.

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.

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.

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

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

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 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.