station trading

He maintains that Apollo Global Management will have no role in running the combined company, following the $5.4 billion merger with Tegna.

The purchase of WBEH-CD Miami, by Daystar TV Network tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

NCTA-The Internet & Television Association, said it has no problem with the FCC approving the Standard General-Tegna deal, but only if the commission imposes binding conditions that hold the companies and their deal financing partner — Apollo Global Management/Cox Media Group, to their pledge that they would not strike TV station sharing arrangements or sidecar deals post-merger.

Standard Media CEO Deb McDermott (r) says she has a track record running TV stations. So does Soo Kim, founder and managing partner of Standard General, which agreed to acquire Tegna for $5.4 billion. While the deal is being reviewed by the FCC, objections have been raised by Graham Media, unions and other groups concerned that newsroom jobs will be lost and about the influence of Apollo Global Management, which owns stations through Cox Media Group and is involved in the financing of Standard General’s bid.

“One of our key initiatives is to give our communities a voice,” says Soo Kim (l), founding partner of Standard General and current managing partner and chief investment officer. “We want to partner with community journalism groups to amplify the work they’re doing and the communities they represent.” The merged company will be led by television industry veteran Deb McDermott, forming America’s largest minority-owned, women-led broadcasting company.

Station owner Graham Media has joined the opposition to Standard General’s acquisition of Tegna, filing a petition against the deal with the FCC on Wednesday that focuses on the effect the transaction would have on the Jacksonville, Fla., TV market.

The NewsGuild-CWA and and the National Association of Broadcast Employees and Technicians (NABET)-CWA filed a petition to dismiss or deny the deal with the FCC on Wednesday (June 22), the deadline for such filings. They say the deal, which was approved by Tegna shareholders in May, and interrelated transactions — what they labeled an “unprecedented array of sequenced transactions and swaps” — are actually an attempt to “game the commission’s ownership and retransmission consent rules in ways that contravene the commission’s public interest standard.”

The purchase of WWAX-LD Westmoreland, N.H., 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 KDOC-TV Anaheim, 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 K35OX-D Selma, Ala., by Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

The FCC is asking more questions about private equity company Standard General’s planned purchase of Tegna and take it private. Tegna’s shareholders recently voted to approve the acquisition and the deal is still expected to close on schedule sometime in the second half of this year. But the transaction must still get regulatory approval and other customary closing conditions. Among its new questions, the FCC is asking how Standard General would negotiate retransmission agreements with cable providers for rights to carry TV station signals. It also asked about possible layoffs. And it asked for a detailed explanation with supporting data describing how the transaction would serve the public interest.

The purchase of two low-power stations in Florida, by Goshen LLC tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

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.