Weekly Station Trading Roundup
Three NC LPTVs Sell For $86,000
TVNewsCheck,
May 22, 2012, 10:17 AM EDT
The sale by DTV Enterprises to Tutt Media Group in Jacksonville and Kinston is the only TV station transaction submitted to the FCC for its approval during the week ending May 21, according to BIA Kelsey.
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Weekly Station Trading Roundup
LIN-New Vision Tops A Week Of TV Sales
TVNewsCheck,
May 18, 2012, 5:56 AM EDT
The $342 million sale of 16 stations is one of five TV station transactions submitted to the FCC for its approval during the week ending May 14, according to BIA Kelsey.
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TVNewsCheck Focus on Business
More Sellers Than Buyers In Station Market
TVNewsCheck,
May 16, 2012, 8:08 AM EDT
With four significant TV station group deals within the past year, there is a growing number of groups up for sale. But right now few buyers are willing to pay the multiples that the sellers are demanding. “Owners are either going to have to take lower prices and come out under water or hold stations for another two years," says broker Larry Patrick.
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dma 19 (Orlando, FL)
WMFE: There’s No Deal To Sell To Batchelor
Orlando Sentinel,
May 11, 2012, 7:17 AM EDT
Orlando businessman Dick Batchelor's quest to buy the Orlando noncommercial station evidently has ended. José Fajardo, president-CEO of WMFE, said in an email Thursday evening: "There is no deal between WMFE and Independent Public Media."
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dma 19 (Orlando, FL)
Independent Public Media Wants WMFE
Current,
May 9, 2012, 8:16 AM EDT
Independent Public Media has made a bid for WMFE Orlando, Fla., the former PBS member station that has been on the market for more than a year.
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Weekly Station Trading Roundup
WXVT Greenville, MS, Sells For $3 Million
TVNewsCheck,
May 8, 2012, 12:46 PM EDT
The sale of that CBS affiliate by Saga Communications to H3 Communications was one of four submitted to the FCC for its approval during the week ending May 7, according to BIA/Kelsey.
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Updated 9:52 a.m. ET
LIN Buying New Vision Stations For $342M
TVNewsCheck,
May 7, 2012, 7:23 AM EDT
LIN is acquiring network affiliates in
eight markets: Portland, Ore. (DMA 22); Birmingham, Ala. (DMA 39); Wichita, Kan. (DMA 67); Honolulu (DMA 71); Savannah, Ga. (DMA 92); Youngstown, Ohio (DMA 110); Topeka, Kan. (DMA 136); and Mason City, Iowa (DMA 153). The price: $330.4 million and the assumption of $12 million of debt.
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DMA 187
Greenwood, MS: One Man, Four Net Affiliates
TVNewsCheck,
May 6, 2012, 12:40 PM EDT
Charles Harker has guaranteed a loan that will enable his three sons to buy the CBS affiliate in the Greenwood-Greenville market. If the FCC approves the deal, he intends to run the station under contract along with his other stations in town, which hold the ABC, NBC and Fox affiliations.
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dma 69 (Green Bay, WI)
Journal Hopes To Buy WACY For $2M
TVNewsCheck,
May 4, 2012, 3:01 PM EDT
Journal Broadcast Group is seeking a "failed station" waiver at the FCC to get approval of the deal to buy the Ace TV-owned MNT affiliate that Journal has been operating under an LMA for 18 years with its NBC affil WGBA.
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Weekly Station Trading Roundup
Delaware LPTV Sells For $150,000
TVNewsCheck,
Apr 24, 2012, 5:35 PM EDT
That was one of four station sales involving low-power stations that were submitted to the FCC for its approval during the week ending April 23, according to BIA/Kelsey.
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Weekly Station Trading Roundup
Plum TV Buys 5 LPTVs For $1.17 Million
TVNewsCheck,
Apr 17, 2012, 7:30 PM EDT
That multi-station transaction, plus another as well as two other stand-alone TV station deals, were submitted to the FCC for its approval during the week ending April 16, according to BIA/Kelsey.
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Weekly Station Trading Roundup
Denver LP, Cheyenne TV Go For $9 Million
TVNewsCheck,
Apr 11, 2012, 3:42 PM EDT
That multi-station transaction, plus four other TV station deals, were submitted to the FCC for its approval during the week ending April 9, according to BIA/Kelsey.
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Weekly Station Trading Roundup
NRJ Buys Three Stations for $45 Million
TVNewsCheck,
Apr 3, 2012, 10:54 AM EDT
That multi-station transaction, plus two other TV station deals, were submitted to the FCC for its approval during the week ending April 2, according to BIA/Kelsey.
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Sinclair Closes Freedom Stations Purchase
TVNewsCheck,
Apr 2, 2012, 9:15 PM EDT
Sinclsir Broadcst Group completed its $385 million acquisition of eight Freedom Communications stations.
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DMA 1
Berlamino Tapped For CBS's Duop NY Station
TVNewsCheck,
Apr 2, 2012, 4:46 PM EDT
CBS Television Stations executive Betty Ellen Berlamino has been named VP and station manager following CBS’s purchase of the Long Island independent. The station will also add three hours of news each weekday beginning this summer and air all its programming in high def.
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DMA 2
NRJ TV Paying $45 Million for LA Independent
TVNewsCheck,
Apr 2, 2012, 10:40 AM EDT
As previously reported, NRJ TV is purchasing KSCI Los Angeles using a credit bid it obtained by buying up the debt of the bankrupt station, which airs a variety of programming in Chinese, Korean and Tagalog. The amount was revealed Friday in an FCC filing seeking approval of the deal, which also includes KIKU Honolulu and KAUN-LP Los Angeles. The seller is International Media Group, which went into Chapter 11 in January.
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dma 74 (Toledo, OH)
FCC OKs WUPW Sale; Layoffs Look Likely
Toledo Blade,
Mar 28, 2012, 7:52 AM EDT
The $22 million sale of LIN's Toledo, Ohio, Fox affiliate to American Spirit Media got FCC approval on Monday. A service-sharing agreement with Raycom CBS affiliate WTOL attached to the sale allows the stations to share news staff and broadcasts.
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Weekly Station Trading Roundup
LM Media Buys Tucson LPTV For $810,000
TVNewsCheck,
Mar 27, 2012, 10:54 AM EDT
The sale of KUDF-LP is one of two TV station deals submitted to the FCC for its approval during the weeks ending March 26, according to BIA/Kelsey.
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DMA 2 (Los Angeles)
NRJ TV To Acquire Asian-Language KSCI
TVNewsCheck,
Mar 27, 2012, 8:16 AM EDT
The spectrum speculator adds to its growing portfolio of underperforming independent stations by buying the Los Angeles station, which airs programming in Chinese, Korean and Tagalog. NRJ TV is collecting stations, hoping to eventually sell their spectrum through the FCC's planned incentive auction.
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Providence Equity Puts Newport On Block
Reuters,
Mar 26, 2012, 9:05 AM EDT
Providence Equity Partners is shopping Newport Television, the group of 56 television stations it acquired in 2008, to potential buyers, according to three sources familiar with the matter.
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dma 19
Deal To Sell WMFE Orlando Falls Through
Orlando Sentinel,
Mar 16, 2012, 2:37 PM EDT
Orlando public broadcaster WMFE announced nearly a year ago that it planned to sell its TV station for $3 million. That deal will not happen, WMFE President Jose Fajardo said this morning.
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Dma 129
National Comm. Buying KUQI Corpus Christi
TVNewsCheck,
Mar 15, 2012, 5:17 PM EDT
Upon completion of the deal for the Fox affiliate, National will enter into sales, programming and other shared service agreements with Dallas-based London Broadcasting Co.
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Weekly Station Trading Roundup
Two Maine TVs Sell For $75,000 Each
TVNewsCheck,
Mar 13, 2012, 11:31 AM EDT
MNT affiliate WPME Lewiston and CW affil WPXT Portland are among the three station sales that were submitted to the FCC for its approval during the week ending March 12, according to BIA/Kelsey.
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dma 78
New Age Selling Half Of Portland, ME, Duop
TVNewsCheck,
Mar 7, 2012, 9:29 AM EST
Wilkes-Barre, Pa.-based New Age is selling its CW affiliate in Portland, Maine, WPXT, to Tyche Broadcasting for $75,000, according to an FCC filing seeking approval of the deal. Tyche is owned Frank Copsidas of Portland, who has no other broadcast interests. New Age has been operating WPXT in a virtual duopoly with WPME, an MNT affiliate owned by MPS Media.
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Weekly Station Trading Roundup
Montgomery, Ala., LPTV Sells For $110K
TVNewsCheck,
Feb 28, 2012, 10:33 AM EST
Sales of five low-power TV stations in two markets were submitted to the FCC for its approval during the weeks ending Feb. 20 and Feb. 27, according to BIA/Kelsey.
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Weekly Station Trading Roundup
New York LPTV Goes For $2 Million
TVNewsCheck,
Feb 14, 2012, 12:08 PM EST
Sale of WBQM-LD was one of five TV stations deal submitted to the FCC for its approval during the weeks ending Feb. 6 and Feb. 13, according to BIA/Kelsey.
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DMA 2
Asian Indie KSCI Los Angeles In Bankruptcy
TVNewsCheck,
Feb 13, 2012, 3:57 PM EST
Bankupt owner International Media Group is seeking to transfer KSCI and two other stations to itself as debtors-in-possession while it tries to sell. KSCI currently broadcasts programming in a mix of Asian languages.
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DMA 85
FCC OKs Acme Sale of Madison, WI, CW Affil
TVNewsCheck,
Feb 10, 2012, 12:48 PM EST
The FCC has granted Acme Communications' sale of CW affiliate WBUW Madison, Wis. (DMA 85), to the Byrne Acquisition Group LLC for $1.8 million. Byrne owns low-power WHHI Hilton Head, S.C. When Acme announced the sale last December, it said it expected it to close in the second quarter of this year.
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DMA 1
NRJ Asks FCC To OK $22.8M Buy Of WSAH
TVNewsCheck,
Feb 3, 2012, 8:08 AM EST
The spectrum speculator outbid two others for the bankrupt New York independent station last November, but the auction was contested, delaying the filing of the FCC sale application. NRJ has purchased three other underperforming stations in recent months with an eye on the FCC's spectrum auction.
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dma 74 (Toledo, OH)
LIN Sells WUPW To Thomas Henson For $22M
TVNewsCheck,
Jan 11, 2012, 3:18 PM EST
As he has in at least three other markets, Henson will enter into a shared services agreement with Raycom Media so that Raycom can run Toledo, Ohio, Fox affiliate WUPW in tandem with its CBS affil WTOL.
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DMA 1
Owner of WLNY Also Spinning Off LPTVs
TVNewsCheck,
Jan 5, 2012, 4:38 PM EST
Michael Pascucci, who sold independent WLNY to CBS last month for $55 million, is picking up another $6.5 million from the sale of three LPTV stations to a separate investment group.
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Scripps completes McGraw-Hill Stations Buy
TVNewsCheck,
Dec 30, 2011, 12:24 PM EST
The $212 million deal comprises full-power ABC affiliates in Denver (KMGH); San Diego (KGTV); Bakersfield, Calif. (KERO); and Indianapolis (WRTV) and low-power Azteca America affiliates in Denver; Fort Collins, Colo.; Colorado Springs, Colo.; San Diego; and Bakersfield, Calif.
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CBS Paying $55 Million For WLNY New York
TVNewsCheck,
Dec 21, 2011, 8:59 AM EST
When CBS announced on Dec. 12 that it was acquiring WLNY and creating a New York duopoly (with flagship WCBS), it didn't release the price. But it shows up in the FCC application seeking approval of the deal. WLNY is an independent station owned by Michael Pascucci and family.
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Dma 85
Acme Selling WBUW Madison, Wis.
TVNewsCheck,
Dec 13, 2011, 8:16 PM EST
Byrne Acquisition Group is buying the CW affiliate for $1.8 million. In addition, Acme’s board approves distribution of its LIN TV Corp. stock to its shareholders.
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Dma 1
CBS Buys WLNY, Doubles Up In New York
TVNewsCheck,
Dec 12, 2011, 1:20 PM EST
The purchase of the independent station on Long Island will give CBS a duopoly in the nation’s largest media market.
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Dma 6 (San Francisco)
KCSM San Mateo, Calif., Goes Up For Sale
Current,
Dec 8, 2011, 7:32 AM EST
As expected, the San Mateo (Calif.) Community College announced Wednesday that it is seeking a buyer for the public station. In June, the board said the sale was due to the station's projected $800,000 structural deficit.
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DMA 12
Michael Dell Buys Third TV, Second In Seattle
TVNewsCheck,
Dec 2, 2011, 5:23 PM EST
The latest buy for the computer billionaire is Me-TV affiliate KVOS. Terms were not disclosed. Earlier this year, he purchased KFFV Seattle and KTLN San Francisco.
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Scripps Purchase Of McGraw-Hill TVs OK'd
TVNewsCheck,
Nov 29, 2011, 3:38 PM EST
The FCC today approved E.W. Scripps’
application to buy the McGraw-Hill TV station group for $212 million in cash. The deal comprises full-power ABC affiliates in Denver (KMGH); San Diego (KGTV); Bakersfield, Calif. (KERO); and Indianapolis (WRTV) and low-power Azteca America affiliates in Denver; Fort Collins, Colo.; Colorado Springs, Colo.; San Diego; and Bakersfield, Calif.
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dma 1
NRJ Wins Bidding For WSAH New York, But ...
TVNewsCheck,
Nov 29, 2011, 7:08 AM EST
NRJ, a group that is buying underperforming stations with an eye on cashing in on the FCC's proposed incentive auction, outbid two others in a Nov. 15 auction for WSAH, a bankrupt independent licensed to Bridgeport, Conn., on the fringe of the New York market. But its high bid of $22.8 million may not be enough. Arthur Liu, the original owner of the station, is challenging the sale process in bankruptcy court.
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Political Ad Spending Spurs Local TV Mergers
New York Times,
Nov 9, 2011, 6:22 AM EST
The election cycle of 2012 is expected to be very lucrative for some stations, which will also benefit from charging cable and satellite distributors for the rights to retransmit their signals. A period of consolidation is under way in local television — and with it, a renewed debate about the implications of merger and acquisition activity on the industry.
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updated following earnings call
Sinclair Buying Freedom For $385 Million
TVNewsCheck,
Nov 2, 2011, 8:10 AM EDT
The eight-station deal will give Sinclair two more duopolies, one in West Palm Beach-Fort Pierce, Fla., another in Albany-Schenectady-Troy, N.Y. It also makes Sinclair the country’s largest group in number of stations. Next in line for acquisition is LIN’s WWHO Columbus, Ohio, with a deal to be announced very soon.
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DMA 202
Newport Selling Fairbanks Station For $1.1M
TVNewsCheck,
Oct 17, 2011, 11:30 AM EDT
Newport Television is getting $1.1 million for KTVF Fairbanks, Alaska, according to an FCC filing. The sale of the NBC affiliate to Chena Broadcasting, a local group headed by Michael Young,
was announced last week.
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LIN TV Chief Upbeat About Local TV, Digital
MediaPost,
Oct 14, 2011, 10:02 AM EDT
LIN TV CEO Vincent Sadusky says that M&A in the TV station business is likely to increase with “non-traditional” owners as potential sellers. Recently, Sinclair announced a deal to acquire seven stations from private-equity firm Cerberus, while Newport Television, which is owned partly by Providence Equity, has an impressive portfolio, though it may not be for sale.
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Jessell at Large
Many Winners In The Scripps Station Buy
TVNewsCheck,
Oct 14, 2011, 8:48 AM EDT
With its purchase of McGraw-Hill’s stations in Denver, Indianapolis, San Diego and Bakersfield, Scripps is benefiting three constituencies: Itself, the viewers in those markets and the industry at large. Itself and viewers because its plan to boost the new stations’ value stems from investing in news to raise ratings (and ad rates), giving viewers better news options; and the industry because the deal finally sets a price for stations that could get the station trading market rolling again. A lot of potential sellers have been sitting on the sidelines because they don't know what their stations are worth. Now they do.
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DMA 202
Newport Sells KTVF Fairbanks To Local Group
TVNewsCheck,
Oct 13, 2011, 7:36 PM EDT
The buyer is headed by Michael Young, a one-time member of the municipal assembly. Terms were not disclosed.
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EXECUTIVE SESSION WITH Brian Lawlor
Scripps Sees Good Fit For Its New Stations
TVNewsCheck,
Oct 10, 2011, 7:08 AM EDT
Last week’s $212 million purchase of the McGraw-Hill TV group will boost Scripps’ U.S. coverage to 13% and make it the country’s largest owner of ABC affiliates. And it also gives it five low-power Spanish-language stations. Brian Lawlor, Scripps’ SVP of the TV division, says his company made the deal because the new stations are “a really comfortable fit” in terms of culture, geography and size. He talks about the plans to make the most of this new opportunity, the company’s first major station purchase in 20 years.
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DMA 1
WSAH Bridgeport, CT, Goes On The Block
TVNewsCheck,
Oct 6, 2011, 2:21 PM EDT
Debtors of the bankrupt former Multicultural Television Broadcasting station are inviting qualified parties to come to Wilmington, Del., on Nov. 15 to bid on it. It's the last of five that MTB bought from Scripps in 2006 for $170 million.
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Ryvicker: Scripps Buy Good For Broadcasting
TVNewsCheck,
Oct 4, 2011, 11:35 AM EDT
The $212 million that Scripps agreed to pay McGraw-Hill for its station group justifies higher valuations for other stations groups like Belo and Sinclair, says Wells Fargo analyst Marci Ryvicker.
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DMA 4
NRJ TV Picks Up Philly Station For $30.4M
TVNewsCheck,
Sep 29, 2011, 7:22 AM EDT
The aggregator of third-rate TV stations has a deal for its third station: WTVE, licensed to Reading in the Philadelphia DMA. NRJ earlier this year bought two other stations -- WMFP Boston and KCNS San Francisco -- for $20 million and was a failed bidder for a station in Los Angeles. Seller Richard French bought WTVE three years ago for $13.5 milion.
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DMA 4
Rogow Buying Philly LPTV For $300K
TVNewsCheck,
Sep 15, 2011, 5:42 AM EDT
Loop Media LLC, owned by Lawrence Rogow and Paul Koplin, both of Los Angeles, are buying low-power WTSD-CA Philadelphia, from nonprofit Priority Commmunications Ministries for $300,000, according to an FCC filing seeking approval. Rogow is chairman of the Venture Technologies Group LLC., a group with full-power stations in Seattle; Lansing, Mich.; and Peoria, Ill., and numerous low-power stations elsewhere.
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Updated Thurs., 4 p.m. ET
Sinclair Buys Four Points Media For $200M
TVNewsCheck,
Sep 8, 2011, 12:38 PM EDT
The Four Points group includes seven stations in four markets, including the CBS affiliates in Salt Lake City and Austin, Texas. The seller is Cerberus, a private equity firm. Sinclair will operate the stations under an LMA prior to closing.
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DMA 89
Baylor Selling Noncommercial TV In Waco
TVNewsCheck,
Sep 2, 2011, 12:53 PM EDT
Baylor University is selling noncommercial KDYW Waco-Temple-Bryan, Texas (DMA 89), to Community Television Educators of Waco, headed by Marcus and Joni Lamb, owners of the religious Daystar network and station group,
according to an FCC filing seeking approval. The purchase price is $250,000. M.C. Alcamo & Co. advised the seller.
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DMA 100
KFSM Seeking Duopoly In Fort Smith, Ark.
TVNewsCheck,
Sep 2, 2011, 10:31 AM EDT
Local TV's CBS affiliate is asking the FCC for a "failing station" waiver that would allow it to buy RTN affilate KPBI for $800,000.
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DMA 13 (Seattle)
FCC Clears Way For Dell's Second TV Buy
TVNewsCheck,
Aug 19, 2011, 2:06 PM EDT
The FCC has approved the proposed $5 million purchase of KFFV Seattle by OTA Broadcasting, a company owned by computer retailing billionaire Michael Dell. KFFV is an infomercial-heavy independent. The seller is Carlene Casey. This is the second such deal for Dell this year. Earlier, he was cleared to buy KTLN San Francisco for $8 million.
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dma 114
FCC Green Lights Raycom's Augusta TV Buy
TVNewsCheck,
Aug 15, 2011, 9:44 AM EDT
The FCC has granted Raycom Media permission to move ahead with its $18-million acquisition of WFXG Augusta, Ga. (DMA 114), a Fox affiliate it has been managing under a local marketing agreement since 2003. Raycom doesn't own or operate any other stations in the market.
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dma 6
Billionaire Michael Dell OK'd To Buy SF TV
TVNewsCheck,
Aug 5, 2011, 12:52 PM EDT
Michael Dell, founder of the online computer retailer that bears his name, has been cleared by the FCC to purchase KTLN San Francisco for $8 million. The seller, Christian Communications, will continue airing religious programming on the station under a two-year LMA.
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Open Mike By Eric Dodson Greenberg
TV’s Next M&A Wave Won’t Be Like Last One
TVNewsCheck,
Aug 5, 2011, 6:42 AM EDT
Changes in the television industry since the last wave of M&A activity will spur new deal-making and change its very nature. Retrans fees — which had not yet matured as a meaningful second income stream as of the last M&A cycle — will now be a new catalyst for growth and achieving scale. Add to that the differentiating value of broadcast television — its ability to generate cash, the near-term value of huge spending in political advertising, and the emerging (and, yes, changing) shape of station economics — and you have newly ripening incentives for buyers and sellers.
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Private Equity Firms Eyeing Nexstar
TVNewsCheck,
Aug 4, 2011, 5:44 AM EDT
Oak Hill Capital Partners and TPG — or possibly a combination of the two — have emerged as the top candidates to buy out Nexstar majority owner ABRY, a Boston-based private equity firm. However, virtually all private equity firms with broadcast interests are likely giving the Nexstar deal a look.
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Earnings call
Sinclair Eyes M&A Market With Interest
TVNewsCheck,
Aug 3, 2011, 10:47 AM EDT
In the station group's earnings call with analysts today, management says they're in a prime position to take advantage of all the stations now on the block.Said David Amy, Sinclair EVP-CFO: “There’s nothing we have to go out and purchase.… We can be very selective. If the price make sense for us, we can deal.”
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DMA 6
Una Vez Mas Paying $5.2 Million For KFTY
TVNewsCheck,
Jul 28, 2011, 6:15 PM EDT
The buyer of the San Francisco station is the largest affiliate group of Spanish-language Azteca America. The seller is High Plains Broadcasting, whose stations in San Francisco and five other markets are operated by Newport Television in duopolies.
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Jessell At Large
Station M&A Set For Rebound: Who Will Buy?
TVNewsCheck,
Jul 22, 2011, 3:15 PM EDT
There are several big TV groups up for sale, enticing prospective buyers with those still-fat margins and the prospect next year of a big jump in revenue from political advertising. Are there buyers? I think so. In addition to other broadcast groups that are looking to expand or strategic acquisitions that lead to efficiencies in any number of ways, there are still the private equity firms that see upside in the business and bankers willing to finance deals. Let’s hope whoever they are, they will be buyers that respect the special role TV stations occupy in their communities and are in the business for the long haul.
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Nexstar Puts Itself Up For Possible Sale
TVNewsCheck,
Jul 21, 2011, 7:17 AM EDT
Nexstar Broadcasting Group plans to explore strategic alternatives, including a sale. The
Wall Street Journal says the station group could go for $1 billion. Moelis & Co. has been retained as financial adviser and Kirkland & Ellis as legal counsel.
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TVNewsCheck Focus on Business
McGraw-Hill Sale Could Fetch $200 Million
TVNewsCheck,
Jul 20, 2011, 8:29 AM EDT
McGraw-Hill has begun shopping its four-station group and is said to be drawing interest from the likes of Nexstar, Meredith and Belo. Based on its financials for 2010 and 2011, the group is worth between $150 million and $200 million, although bidding and the expection of big revenue gains from political advertising in 2012 could push the number higher.
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dma 13
OTA's $5.2 Million Bid Wins KFFV Seattle
TVNewsCheck,
Jul 1, 2011, 4:15 PM EDT
OTA Broadcasting won the bankrupt independent with a bid of $5.2 million in auction in Seattle yesterday. Only one other party showed up for the auction, according to broker Kalil & Co. OTA had established a base price for the station with a stalking horse bid of $3.45 milion.
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For Sale: Young Broadcasting For Just $350M
TVNewsCheck,
Jun 30, 2011, 7:45 AM EDT
A year out of bankruptcy, the 10-station group is financially healthy and the new owners believe it's a good time to sell, what with a record year for political advertising expected in 2012. Observers say the group could fetch eight times blended 2011-12 cash flow or as much as $350 million.
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DMAs 71 & 179
Nexstar Buy Of Liberty Stations Gets FCC OK
TVNewsCheck,
Jun 28, 2011, 1:22 PM EDT
In granting Nexstar's purchase of WFRV Green Bay, Wis., and WJMN Escanba, Mich., from Liberty Media, the FCC also extended a waiver of "main studio" rule for WJMN.
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TVNewsCheck Focus on Business
Retrans Sharing Holding Back Station Sales
TVNewsCheck,
Jun 22, 2011, 5:47 AM EDT
While most agree that the networks’ claims on a chunk of affiliates’ retrans revenues are reasonable, the sticking point is how much. And since stations are valued on the basis of a multiple of cash flow, if a station has to trim its cash flow to pay programming fees to networks or share retrans revenue with them, it devalues the station. All of this is making it difficult to calculate how much stations are worth and is putting a damper on deal-making.
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