Posts Tagged ‘Newport’

Cox closes on Jacksonville duopoly…

(from TVNewsCheck.com) – Cox Media Group (CMG) announced Monday that it had closed on its purchase of four stations in two markets from Newport Television. The sale was part of some $1 billion in station sales announced in July by Newport, owned by Providence Equity Partners.

CMG has added to its portfolio Fox affiliate WAWS and the operations of CBS affiliate WTEV Jacksonville, Fla. (DMA 50), and Fox affiliate KOKI and MNT outlet KMYT Tulsa, Okla. (DMA 59).

CMG paid $235 million to Newport and assigned to Bayshore Television LLC, headed by veteran broadcaster Bruce Baker, the right to buy certain assets of WTEV, including the FCC license, for $18,011,058. CMG will provide services to WTEV, which Bayshore has acquired from High Plains Broadcasting, continuing a relationship in Jacksonville which had existed between Newport and High Plains…..Cont…..

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04

12 2012

WTEV/WAWS & WPMI/WJTC sold in a $1 Billion deal…

(edited from TVNewsCheck.com) – Confirming a Wall Street Journal story yesterday, Newport Television today announced that it is selling 22 of its 27 full-power stations to three buyers — Nexstar Broadcasting Group, Sinclair Broadcast Group Inc. and Cox Media Group — for a total of approximately $1 billion.

Providence Equity Partners, the private equity firm that owns Newport, announced last March it was looking to unload the station group. It bought the stations from Clear Channel Communications in 2007 for just over $1.1 billion

Cox Media Group comes out with four stations in two markets, including Jacksonville’s WTEV-TV and WAWS-TV, for an undisclosed price.

Sinclair Broadcast Group is getting six stations in five markets, including Mobile/Pensacola’s WPMI-TV and WJTC-TV, for $412.5 million….Cont….

 

20

07 2012