station trading

The $14.5 million deal for the Idaho, Fox affiliate was necessitated by the Scripps-Journal merger in the spring.

To facilitate FCC approval of its purchase of Schurz Communicaitons’ television and radio stations, Gray is selling stations in three markets, while buying three more. The affected markets are Wichita, Kan.; Knoxville, Tenn.; South Bend, Ind.; Marquette, Mich; Rapid City, S.D.; and Anchorage, Alaska.

If Media General rejects its bid, Nexstar will circumvent the board and management and take its case directly to shareholders, say the securities analysts in a note to clients. In doing so, they add, it could up its bid from $14,50 to $17 a share to get the job done.

The sale of KXMB Bismarck, KXMA Dickinson, KXMC Minot and KXMD Williston, all North Dakota, by Reiten Television to Nexstar Broadcasting Group tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

Sources say that Fox wants to trade its WOFL Orlando, Fla., to get WVUE in New Orleans, which is owned by Louisiana Media Co., but run by Raycom. Fox wants to own the Fox station in the Big Easy, home to the NFL New Orleans Saints, a strategy it’s followed before.

It’s paying $44 million for CBS affiliates KXMC, KXMB, KXMA and  KXMD in Minot-Bismarck-Dickinson-Williston and will also provide sales and other services to the market’s two ABC affiliates owned by Forum Communications.

The merger of Meredith Corp. and Media General tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

Even with its latest purchase of Schurz, CEO Hilton Howell says “we will continue to look for acquisitions that add to what we’re doing.” But SVP Kevin Latek says buying opportunities may be limited. The Schurz deal grows Gray’s reach to 49 markets in 28 states.

The deal will expand Gray’s operations to a total of 49 television markets and 28 states. “In a rapidly consolidating industry where size and scale matter more than ever before, we have come to the realization that Gray Television would be the best steward to ensure our stations succeed over the long-term,” explained Todd Schurz, president-CEO of Schurz.

This week’s blockbuster merger of Media General and Meredith came as a surprise and has spawned a lot of questions. Here are just a few. Which of the stations in the six overlapping markets will be spun off? Why is Vince Sadusky being left behind? Who will oversee all the stations after the deal closes?

The sale of KCRG Cedar Rapids, Iowa, by The Gazette Co. to Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

Media General is paying $51.53 in cash and stock for each share of Meredith. Meredith CEO Stephen M. Lacy will head the merged company as CEO-president. Other senior management to be announced. Combined, the new Meredith Media General will have 88 stations in 54 markets reaching 30% of TV homes. But stations in six markets will be spun off to comply with FCC ownership limits.The deal, which is subject to government approval, is expected to close by June 30, 2016.

The sale of WBEK-CD Augusta, Ga., by AVN Inc. to Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

The broadcast group is paying The Gazette Co. $100 million in cash for the ABC affiliate, its first station in Iowa.

Serestar Communications Corp. has closed on its $3 million purchase of independent KTMW Salt Lake City (DMA 34) from Alpha & Omega Communications. Serestar also owns two low-power stations in Sacramento, Calif. Alpha & Omega Communications also owns a low-power station in Boise, Idaho. Jason James of Patrick Communications brokered the sale.

Bids for the stations, all in Nebraska, are due by 5 p.m. on Oct. 19, with the auction set for Oct. 27

The sale of WVEO-TV Aguadilla, WVOZ-TV Ponce and WTCV-TV San Juan, all Puerto Rico, by International Broadcasting Corp. tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey

Dove Broadcasting has closed on its purchase of WJFB Nashville (DMA 29) from Bryant Broadcasting for $4 million. Dove is a subsidiary of Tri-State Christian Television, Marion, Ill. Larry Patrick and Greg Guy of Patrick Communications were the seller’s brokers.

The Draper Holdings CBS affiliate in Maryland is buying WOLC-FM in the market.

The deal comprises six stations in Texas in Waco (KXXV), Amarillo (KFDA-KEYU), Odessa-Midland (KWAB-KWES) and Wichita Falls (KSWO), plus a second station in Wichita Falls (KAUZ)  that Raycom is buying from Hoak Media and then spinning off to American Spirit, which will enter into a shared services agreement with Raycom, under which KSWO will provide news, production services, administrative support and equipment and building space to KAUZ.

The sale of three low-power stations in Utah by Airwaves Inc. to Serestar Communications Corp. tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

The sale of KHSL Chico, Calif., and three repeaters by GOCOM Media to USA Television Holdings tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

Montana PBS is about to receive a rare donation: a full-power TV station. Gray Television is giving KMTF in Helena, a CW simulcast channel, to the public TV station, said Eric Hyyppa, GM of Montana PBS in Bozeman. The transaction should be complete by this fall, he said.

For the first six months of 2015, TV and radio station deals totaled just $343.8 million compared to $5.3 billion — just 6% of the total for the first half of 2014, according to SNL Kagan. The slowdown can largely be attributed to the rush of major TV station group deals in 2014. So far in 2015, the TV market has registered five transactions above the $10 million mark, four of them in the second quarter.

Heartland Media-owned USA Television Holdings and Maxair Media are buying the Chico-Redding, Calif., CBS-CW and NBC-Telemundo affiliates that USA will operate following closing.

The sale of KTVH-DT Helena, KBGF-LD Great Falls, both Montana, by Gray Television to Cordillera Communications tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

It’s buying two stations in Wausau, Wis., and Laredo, Texas, and moving the programming to LPTVs it already owns in those markets. In Montana, it’s selling KBGF and KTVH to Cordillera Communications and donating KMTF to Montana State University.

The sale of WDWW-LP Cleveland, Ga., by Richard C. and Lisa A. Goetz to DTV America Corp. tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

The sale of WLPS-CD Lumberton, N.C., by the Billy Ray Locklear Evangelistic Association to Dilicast Broadcast Services LLC tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

The sale of KXLK-CD Austin, Texas, by Abraham Telecasting Co. LLC to Radio Spectrum Partners tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

The sale of WRNT-LP Hartford, Conn., and WTXX-LP Springfield, Mass. by R&S Broadcasting to Tyche Broadcasting Inc. tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

A scarcity of M&A activity in the last year resulted in few changes in TVNewsCheck’s annual ranking of station groups by revenue. The first 11 slots remained the same, with Fox Television Stations on top. The big change was the loss of Journal Broadcast Group, which merged with E.W. Scripps.

The sale of KOSA Odessa, Texas, and two translators by ICA Broadcasting I Ltd. to Gray Television Inc. tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

After building radio stations in Europe during World War II and running his own TV stations, he founded the brokerage firm of R.E. Meador & Associates in 1970.

Bryant Broadcasting is selling the religious-formatted station on ch. 44 in Lebanon, Tenn. (Nashville, DMA 29), to Dove Broadcasting Inc., for $4 million. Dove is a subsidiary of Tri-State Christian Television, Marion, Ill. Greg Guy and Larry Patrick of Patrick Communications were the seller’s brokers.

It’s purchasing the Texas CBS affiliate from Investment Company of America in an all-cash deal.

The sale of KNIN Caldwell, Idaho, by Journal/Scripps Divestiture Trust to Raycom Media Inc. tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

The Hawaii ABC affiliate KITV is being sold by Hearst Television to California-based SJL Broadcast Management. Hearst also owns KMAU and KHVO there.

The sale of WPMF-CD Miami by James Chladek to Prime Time Partners LLC tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

The sale of WLVO-LD Atlanta by Georgia-Carolina Radiocasting Co. to United Media Network tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.