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Big Deals = Big Changes In Station Groups

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Then in March, Media General and LIN Media announced a $1.6 billion merger. The resulting company will have 74 stations in 46 markets and coverage of 23% of all TV homes. Media General shareholders would end up with 64% of the new merged company that will be called Media General and remain based in Media General's Richmond, Va., offices, but LIN President-CEO Vincent Sadusky will retain those titles and will run it. Pre-merger Media General CEO George Mahoney will leave once the merger closes.

The Media General-LIN deal is still awaiting FCC approval; Media General says it hopes to close by early next year.

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New York
2013 Revenue: $726 million
Stations: 36 is 26 markets
Coverage: 12.5%
Ownership: Hearst Corp. (private)
Key executives: Frank A. Bennack Jr., executive vice chairman, Hearst Corp.; Steven Swartz, president-CEO, Hearst Corp.; Jordan Wertlieb, president, Hearst Television Inc.

What's up: It had been rumored for several months toward the end of last year that Hearst Television CEO David Barrett would step down and turn over day-to-day operation of Hearst Corp.'s station group to President-COO Jordan Wertlieb. In a state-of-the-corporation memo to employees on Jan. 2, Hearst Corp. Swartz unceremoniously announced that the transition had already taken place.

"David Barrett completed at year-end an outstanding 15-year run as CEO of Hearst Television and handed over leadership to his deputy, Jordan Wertlieb, president, and himself a 20-year veteran of the group," the memo said. "David will remain very active as a Hearst trustee and board member."

The following month, Hearst chose WPIX New York GM Eric Meyrowitz to oversee sales activities at Hearst's 29 stations along with Kathleen Keefe with both holding VP of sales titles. Then in April, Keefe announced that she would retire at the end of 2014. Keefe joined Hearst Television in 2001, leading the sales efforts of the publicly traded Hearst-Argyle Television where she helped the company achieve record advertising revenues during her tenure.

Brand Connections

New York
2013 Revenue: $697 million
Stations: 61 in 25 markets
Coverage: 44.2%
Ownership: Broadcasting Media Partners Inc., an investor group including Madison Dearborn Partners, Providence Equity Partners, TPG Capital, Thomas H. Lee Partners and Saban Capital Group.
Key executives: Randy Falco, president-CEO, Univision Communications; Kevin Cuddihy, president, Univision Television Group; Alberto Mier y Terán, EVP, Univision Television Group; Isaac Lee, president, news; Beau Ferrari, EVP of operations, Univision Networks

What's up: In March Univision Communications asked the FCC to allow it to continue negotiating retransmission consent deals for all Entravision Communications TV stations, even though most broadcasters are barred from negotiating retrans agreements for multiple stations in the same market. Univision was seeking special relief from the FCC because the agency adopted a new regulation on March 31 that would generally bar broadcasters from joint TV station retransmission consent negotiations.

The company promoted the GM of its flagship KMEX Los Angeles, Alberto Mier y Terán, to executive vice president of its Univision Television Group. Mier y Terán continues as GM of its Los Angeles stations KMEX and KFTR (UniMás), and now joined the executive team of UTG. He is now involved in the strategic direction of the group, including personnel, revenue, expense and station management. He reports to Kevin Cuddihy, president of UTG.

Univision promoted Patsy Loris from senior news director to VP of news last May as the Hispanic network prepared to launch its Fusion joint venture with ABC.

In September, Cesar Conde resigned as president of Univision Networks to become an executive vice president at NBCUniversal. In this newly created role, he will focus on business development, strategic priorities and special business projects across the NBCUniversal portfolio. He also will oversee the International Group.

Lourdes Torres was named vice president of regional news for Univision News last November. In her new role, she continues as director of special projects and added oversight for all programming on Univision O&Os.

This April, Univision News President Isaac Lee was named to the board of directors of the Associated Press.

Montgomery, Ala.
2013 Revenue: $614 million
Stations: 43 in 35 markets
Coverage: 12.4%
Ownership: Employee owned
Key executives: Paul McTear, president-CEO; Leon Long, VP-television; Don Richards; VP-television; Jeff Rosser, VP-television; Brad Streit, VP-television

What's up: Longtime Raycom executive Wayne Daugherty retired as the company’s executive vice president and chief operating officer at the end of 2013. Daugherty had held that post since 2006; he began his career in TV sales almost 45 years ago.

Raycom announced in February that its syndicated newsmagazine America Now with co-hosts Leeza Gibbons and Bill Rancic would not return for a fifth season this fall. America Now is produced by ITV Studios America for Raycom. Trifecta Entertainment distributes the show.

2013 Revenue: $614 million
Stations: 15 in 10 markets
Coverage: 10.6%
Ownership: Cox Enterprises (private)
Key executives: Jimmy W. Hayes, president-CEO, Cox Enterprises; Bill Hoffman, president, Cox Media Group; Neil Johnston, EVP, Strategy & Digital Innovation, Cox Media Group; Jane Williams, EVP, Television; Mike Joseph, EVP, Cox Media Group; Charles Odom, VP-CFO, Cox Media Group


Comments (13) -

HopeUMakeit Nickname posted over 2 years ago
lets rank these mergers by how many people got laid off and how conpensation increased for the corporate shirts who dont produce new stories or do not sell ads.
Insider Nickname posted over 2 years ago
So you and the other comments of this ilk are for Socialism instead of Capitalism on which this Country was built. Good to know.
JamesV Nickname posted over 2 years ago
In what way does HopeUMakeit's comment suggest he/she is for Socialism? It's a fact of life that most mergers such as those discussed in the article result in employee layoffs, increased debt, and rarely any improvement in consumer/customer service. Given the Capitalism supposedly relies on effective competition to achieve its benefits, why do you believe that those opposed to such mergers are socialists or for socialism? Those who really believe in capitalism should want to see effective competition among many players, not reduced competition and fewer people working.
Insider Nickname posted over 2 years ago
To any reasonable person, they would only need to reread the post "lets rank these mergers by how many people got laid off and how conpensation (sic) increased for the the corporate shirts who dont produce new (sic) stories or do not sell ads." If you are unable to realize that post is anti-capitalism and pro-socialist, then I really cannot help you.
SalesGrrl Nickname posted over 2 years ago
The only founding principles this country had were Deism and that this was a Representative Republic. Socialism and Capitalism are byproducts of a later era, and those ideals were not part of our country's founding. And Socialism, I might add, would oppose mergers and individual ownership of something so important as our public airwaves, and would favor government control, which is not what HopeUMakeit is advocating. Also, true Capitalism would disapprove of the mergers, as the creation of huge media conglomerates would decrease the competition between stations. So really, there is nothing in your comment that is correct, other than your usage of ilk, which is laudable.
Insider Nickname posted over 2 years ago
Your post is so full of flaws in its attempt to twist something around to try and make points it would take a JC 5000 word post to address it all, which I am not inclined to do. 1) The Country's founders believed in a higher being, but one that did not care about us. 2) I never stated that the Country was founded on Capitalism v Socialism. 3) HopeUMakeIt's entire post is based on mergers should be looked at on the effect they have on people's jobs (which as the base principal of the Founding Fathers that "the higher being" did not care about us, and thus goes against that basic concept you seem to be trying to weave into this). 4) The Public Airwaves are the Public Airwaves, despite your assertion of the opposite. The Company pays for the license, which can be revoked, as we have seen in the past. 5) To say that Capitalism would disapprove of mergers is fiction. Monopolies yes, Mergers no. 6) As thus, your entire post is nothing but a group of assorted facts which does nothing to build a case to the point HopeUMakeIt and yourself are trying to establish.
HopeUMakeit Nickname posted a year ago
American History is not your strong point. You expose your shortfall with your capitalism comment.
SCOTT GILBERT posted over 2 years ago
It's what I call Clear Channeling... Buy everything you can and amass a huge amount of debt. Then reduce "synergies" until there's hardly anyone left and quality of the product falls, while telling everyone it's all getting better and better. Then continually kick the can of debt down the road...
boisemedia2 Nickname posted over 2 years ago
Betasso is no longer with Gannett.
CEOBOY711 Nickname posted over 2 years ago
nothing to add to the first two brilliant comments. they are right on the money.
tvspy Nickname posted over 2 years ago
It takes "two to tango". The sellers are unable to continue to run their companies at a profit margin suitable to longterm health. Unfortunately, as in any merger, the areas of duplication that get cut. Peopless Master Control, robotic cameras, and centralized/regional hubbing of traffic/accounting, and MMJ's versus photog's are the reasons people are loosing jobs. Mergers simply speed up the process that would have inevitable happened in the longrun...or why would they be selling?
HopeUMakeit Nickname posted a year ago
"these sellers are unable to run their companies at a profit margin suitable to longterm health" !! what a fricking joke. !! and I know. I am a employee of one of the above referenced companies and we print money like the mint. Your "tango" had nothing whatsoever t do with logic or leverage or clout. It was only about money going to a small group of people who were alredy rich.
JamesV Nickname posted over 2 years ago
Why would they be selling? For the financial benefit that can accrue to shareholders and executives. Simple as that. How much money were the merger entities losing at the time of their mergers? It's a matter of either increasing the value of equity held, cashing out on equity held, increasing the longer term value of equity held, or possibly increasing profit margins. It's all about benefiting those at the top, regardless of the impact on employees, consumers or the public interest.
Marketshare Blog Playout Blog




Overnights, adults 18-49 for September 22, 2016
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