Posts Tagged ‘WFNA’

Nexstar Closes on Media General purchase, what’s next?

(edited from TVNewsCheck.com) – From this day forward, Nexstar Broadcasting Group will be known as Nexstar Media Group.

The name change coincides with Nexstar closing on its acquisition of Media General for $4.6 billion in cash and stock just six days after winning FCC approval.

 The deal swells Nexstar’s portfolio to 171 full-power stations,  in 100 markers covering nearly 39% of TV homes. The new stations include 15 in the top 50 markets.

Florida stations involved in the deal include WFLA/WTTA – Tampa, WMBB – Panama City and WKRG/WFNA – Mobile/Pensacola. Jacksonville’s WCWJ was divested and sold to Graham Media Group, earlier in the year to ensure that the merger deal went through. Read the rest of this entry →

17

01 2017

Media General to buy Meredith…

What does this mean for Florida…Media General owns WKRG CBS 5 & WFNA CW, while Meredith owns WALA FOX 10. Read on below…

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(Edited from TVNewsCheck.com) – Media General this morning announced that it is acquiring Meredith Corp. in a cash and stock valued at approximately $2.4 billion.

The transaction, is expected to close by June 30, 2016. Read the rest of this entry →

08

09 2015

UPDATE: FCC approves Media General-LIN merger…

UPDATE – 12/22/14 – Media General announced today that it’s merger (or “business combination” as they called it) with LIN Media has now closed. The two companies are now one, as described in our story below.

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12/14/2014 – Media General says its “business combination” with LIN Media has closed, which means the two are now one company.

On Friday the FCC approved the merger applications of Medial General Inc. and LIN Media LLC. The merger should be completed by the end of next week.

The deal, announced in March, creates one of the nation’s largest broadcast television station companies in, which will own and operate or service 71 television stations in 48 U.S. markets. The new mammouth Media General will reach an estimated 23 percent, of U.S. television households.

In Florida that means that changes are coming and new duopolies will be created.

            

Read the rest of this entry →

22

12 2014

Media General, LIN, Hearst, Sinclair, Meredith bounce around stations…

(from TVNewsCheck.com) – Media General Inc. and LIN Media today agreed to sell or swap television stations in five markets to comply with FCC ownership rules affecting the merger they announced on March 21. Media General also announced today that in light of the loss of CBS affiliation of LIN’s WISH Indianapolis, it was lowering the per-share price of the deal from $27.82 to $25.97.

Regulatory authorities are requiring the divestiture of stations in the following markets: Birmingham, Ala.; Providence, R.I.-New Bedford, Mass.; Mobile, Ala.-Pensacola, Fla.; Green Bay-Appleton, Wis.; and Savannah, Ga. The companies said they believe that no other market divestitures will be required….Cont…

According to TVNewsCheck.com, in Florida the changes go as follows…

Media General will acquire WTTA-TV in the Tampa/St. Petersburg market. Of course Media General already owns WFLA-TV in that Tampa, it’s second largest. We here at Florida News Center predict that WTTA will move to WFLA’s downtown Tampa studios and once again share newscasts.

Meredith Corp will take WALA-TV away from LIN TV, in the Mobile-Pensacola market for a mere $86 million.

 

20

08 2014

The FCC tightens media ownership/”sharing” rules…

(from TheHill.com) – The Federal Communications Commission voted Monday to crack down on cooperation between broadcasters.

In a contentious vote that attracted scrutiny from Republicans in the agency and on Capitol Hill, the FCC approved an order that will keep broadcast companies from sharing resources on advertising sales.

Under current FCC rules, a single broadcast company cannot own more than one of the top four broadcast stations in a media market.

But prior to the agency’s actions on Monday, a broadcast company could use a Joint Service Agreement (JSA) to control advertising sales across multiple broadcast stations. Critics of this practice said it allowed broadcasters to control multiple stations in practice without technically violating the agency’s ownership rules….Cont….

How could this impact Florida? There are seven markets in Florida where a company owns, manages or has influence on more than one TV station in a market: West Palm Beach (WPTV & WFLX), Jacksonville (WAWS & WTEV, WTLV & WJXX), Pensacola/Mobile (WEAR & WFGX, WPMI & WJTC…soon to be WKRG/WALA/WFNA), Fort Myers (WBBH & WZVN), Tallahassee (WTWC, WTLH, WTLF), and Gainesville/Ocala (WGFL, WMYW, WNBW), Orlando (WOFL & WRBW), Miami (WTVJ & WSCV).

01

04 2014