Media General to buy Meredith in TV, magazine deal

[Mr Tony]

http://www.usatoday.com/story/money/2015/09/08/media-general-buy-meredith-tv-magazine-deal/71866784/

Media General reached a deal to acquire Meredith Corp. for $2.4 billion, creating the third largest TV station company in the U.S.

Meredith owns or operates 17 TV stations and owns several national magazines targeted primarily at women, including Better Homes and Gardens, Shape, Allrecipes and Parents.

The combined company will take on the name Meredith Media General.

The new company will own 88 TV stations in 54 markets. To secure regulatory approvals, the new company plans to shed stations in six markets through sales or swaps: Portland, Oreg.; Nashville, Tenn.; Hartford-New Haven, Conn.; Greenville-Spartanburg, S.C.; Asheville, N.C.; Mobile, Ala.-Pensacola, Fla.; and Springfield, Mass.

 

[Mr Tony]

list of stations that Meredith owned
https://en.wikipedia.org/wiki/Meredith_Corporation#Current_Meredith-owned_stations

Here are the conflicts (where both companies own a station)

88 TV stations across 54 markets that reach 30% — or approximately 34 million — U.S. TV households. It will include 40 Big Four network-affiliated TV stations located in the top 75 DMAs. Stations in six markets will be swapped or otherwise divested in order to address regulatory considerations. These markets are:
Portland, Ore (DMA 23) KOIN (CBS) MG, KPTV (Fox) Meredith,KPDX (MNT) Meredith
Nashville (DMA 29) WKRN (ABC) MG, WSMV (NBC) Meredith
Hartford, Conn. (DMA 30) WCTX (MNT) MG, WTNH (ABC) MG,WFSB (CBS) Meredith
Greenville-Spartanburg, SC-Asheville, NC (DMA 37) WSPA (CBS) MG, WYCW (CW) MG, WHNS (Fox) Meredith
Mobile, Ala.-Pensacola, Fla. (DMA 59) WKRG (CBS) MG, WFNA (CW) MG, WALA (Fox) Meredith
Springfield-Holyoke, Mass. (DMA 115) WWLP (NBC) MG,WGGB (ABC) Meredith, WSHM-LD (CBS) Meredith

 

[Mr Tony]

http://www.tvnewscheck.com/article/88230/media-general-acquiring-meredith-for-24b

Media General this morning announced that it is acquiring Meredith Corp. for approximately $2.4 billion.
Under the terms of the agreement, Meredith shareholders will receive cash and stock valued at $51.53 per share, which represents a 12% premium to Meredith’s closing stock price on Sept. 4.

The transaction, which is subject to government approval, is expected to close by June 30, 2016.

Media General has formed a new holding company, which after closing will be named Meredith Media General.

 

[localclassictvfan]

WOW......Media General on a roll now that's the 3rd media group they bought out in 3 years with Young and Lin.....Kudos to Media......Seems like they doing good things for the future of the television industry (guess I take back the negative I said about them). Glad to be part of their family.......Before the deal seems I had seen that both Media and Meredith had struck a deal with Cozi on at least 15 stations combined maybe more....Maybe a strong statement when it comes time for Media to make a deal with them to launch to replace the LWN.......

Sounds like a winner here in this deal.......

The Majority of their stations have 3 including the major affiliate and two diginets....which are Cozi, Escape, Grit, Laff......some have me.....I hope these 17 don't lose their diginets once the deal is signed....

I am starting to like Media's move for the future already......Hope they didn't forget about us former Young stations when they will launch the LWN replacement

 

[localclassictvfan]

Went on TV newscheck they already bashing the deal.....a good one goes away, a bad one gets bigger.....

 

[jegrant]

Honestly I wasn't sure how they would do with WISH-CW & WNDY-MNT here in Indianapolis DMA but so far so good. They have turned WISH into one of the best performing CW affiliates, with expanded local news. They even expanded WISH's broadcast coverage area by adding it as a 1080i subchannel to WNDY. I do feel like they could have done a bit more with WNDY, but I can see their plan - first they need to put all their best performing shows on WISH and build it up, and then they can likely come back to WNDY and do a little more with it. I also wish they'd pick up Decades or Buzzr, but again they have been busy rebuilding WISH after the loss of CBS, and did a very good job by all accounts.

 

[localclassictvfan]

The only negative account I have seen with Media General comes from WAGT 26.....Schultz Comm agreed to a joint/shared agreement with Media General then (well do not know how accurate) Media was bashed for firing one of the best employees on the WAGT news cast and some people said they weren't watching it anymore......Media bought out Young Broadcasting (includes KLFY-CBS 10 around where I live) and from what I gather most of the people involved with the stations seem to be pretty happy. This also goes for the stations from the Lin Corporation. Seems like Media made a difference in the Indy market....Also I like what Media has done with both the Lin and Meredith (Merger Agreements) names keeping them in the company after they both out. Now a top 3 major media broadcast corporation I can PROUDLY say that Media looks to be #1 between the 3 (Nexstar and Sinclair) going into the future....

 

[retrotv]

Oh great, Nashville is one of the markets they plan to shed. Looks like the plan to add Me TV to WKRN is still on hold, if it happens at all.

 

[Mr Tony]

Oh great, Nashville is one of the markets they plan to shed. Looks like the plan to add Me TV to WKRN is still on hold, if it happens at all.

could work out for the better...ya never know. There is still a long time to go (next year) before it could be completed and finalized.

 

[retrotv]

could work out for the better...ya never know. There is still a long time to go (next year) before it could be completed and finalized.

My NBC station, WSMV, just mentioned on the local newscast that either WKRN or WSMV would have to be sold because of this deal. WSMV is a Meredith station, & WKRN is Media General. I guess it may be awhile before we know which station will be sold. In the mean time, if they don't go ahead & add Me TV to the 2.3 spot, we may be stuck with weather on two subs for a long time.

 

[localclassictvfan]

When Media Bought Young Broadcasting, it wasn't a mess like this.......However this has to be the reason (OR ONE OF) why we hadn't seen Cozi, Me, or whatever launched on our former LIVEWELL slots yet....

 

[localclassictvfan]

This is the plan, hope it works well

Pensacola Florida: WALA-10 Fox/Cozi Meredith Corporation, Sale to Media General or another buyer TBD
WKRG-CBS, Weather, Me, Media General (Sale Pending)
WFNA-CW 55 Bounce Media General (Lin Holdings LLC) Staying in MG

Portland Oregon/Vancouver Washington: KOIN 6 CBS Media General (sale pending)
KPTV 12 FOX/COZI/LAFF, Meredith Corporation (Sale to MG or another buyer TBD)
KPDX 49 MNTV/Escape Meredith Corporation (Sale to MG or another buyer TBD)

Nashville Tennessee: WKRN ABC/WX/WMeTV soon) Media General (Possible Sale Pending)
WSMV 4 NBC/COZI/Heartland, Meredith (Possible Sale to Media General or another buyer TBD)

Greenville-Spartanburg SC: WSPA CBS/METV (Media General, possible sale pending)
WYCW 62 CW/CBS Media General (staying in MG)
WHNS Fox/Cozi/Escape-Meredith (Sale to MG or another buyer TBD)

Hartford, Conn: WCTX 59 MNTV/Silent replacement soon Media General (Staying in MG)
WTNH 8 ABC Bounce-Media General (Possible Sale Pending)
WFSB 3.1 CBS/Laff/Escape Meredith Corporation ( Sale to Media General or another buyer TBD)

Springfield, Mass: WWLP CBS/CW (Media General/Possible Sale Pending)
WWGB 40 ABC/MNTV/Fox (Meredith, sale to MG or another buyer TBD)
WSHM-LD 3.5/3.6 CBS/COZI (Meredith, Sale Pending)

I hope none of these stations lose their diginets wherever they end up with......

 

[Mr Tony]

This is the plan, hope it works well

Pensacola Florida: WALA-10 Fox/Cozi Meredith Corporation, Sale to Media General or another buyer TBD
WKRG-CBS, Weather, Me, Media General (Sale Pending)
WFNA-CW 55 Bounce Media General (Lin Holdings LLC) Staying in MG

Portland Oregon/Vancouver Washington: KOIN 6 CBS Media General (sale pending)
KPTV 12 FOX/COZI/LAFF, Meredith Corporation (Sale to MG or another buyer TBD)
KPDX 49 MNTV/Escape Meredith Corporation (Sale to MG or another buyer TBD)

Nashville Tennessee: WKRN ABC/WX/WMeTV soon) Media General (Possible Sale Pending)
WSMV 4 NBC/COZI/Heartland, Meredith (Possible Sale to Media General or another buyer TBD)

Greenville-Spartanburg SC: WSPA CBS/METV (Media General, possible sale pending)
WYCW 62 CW/CBS Media General (staying in MG)
WHNS Fox/Cozi/Escape-Meredith (Sale to MG or another buyer TBD)

Hartford, Conn: WCTX 59 MNTV/Silent replacement soon Media General (Staying in MG)
WTNH 8 ABC Bounce-Media General (Possible Sale Pending)
WFSB 3.1 CBS/Laff/Escape Meredith Corporation ( Sale to Media General or another buyer TBD)

Springfield, Mass: WWLP CBS/CW (Media General/Possible Sale Pending)
WWGB 40 ABC/MNTV/Fox (Meredith, sale to MG or another buyer TBD)
WSHM-LD 3.5/3.6 CBS/COZI (Meredith, Sale Pending)

I hope none of these stations lose their diginets wherever they end up with......

Looking at the list there are examples where they can keep more than one
If I remember right, they can't own more than one of the Big 4 networks. Theycan own a CW or My + one of the Big 4. So in the lists that have that they can own more than one
Nashville they have to sell one
Springfield they can keep one + the LP (WSHM) as it doesnt count towards it. Thats how Gray Broadcasting got both CBS & FOX in Wausau, WI.Oh and WWLP is the NBC, not CBS.

The other thing they can do (which not be good in the long run) is to buy the assets of the station they want to sell and move it to their station they are keeping. Like as example in Hartford keep the CBS and My. Buy the assets for ABC and throw it on say My as a subchanel (they cant put it as a -1 because then its back to the "cant own more than one of the Big 4") and sell ABC to someone else.

 

[Mr Tony]

Like I say they have until Next June to figure this all out........so its gonna be a while

 

[jegrant]

Really I dislike this "network stripping" that's going on, where an operator can buy the assets of a station (including its Big 4 network affiliation) and then sell the license only to a new entrant. I'd argue the new entrant is being disadvantaged right off the bat by not having a Big 4 network. Sure, there is admittedly no shortage of OTA networks these days, but the Big 4 are still big for a reason.

 

[localclassictvfan]

I cannot wait till the smoke clears the air on this.....

 

[Mr Tony]

I cannot wait till the smoke clears the air on this.....

you'll be waiting a while....so just sit back and relax

 

[Mr Tony]

Really I dislike this "network stripping" that's going on, where an operator can buy the assets of a station (including its Big 4 network affiliation) and then sell the license only to a new entrant. I'd argue the new entrant is being disadvantaged right off the bat by not having a Big 4 network. Sure, there is admittedly no shortage of OTA networks these days, but the Big 4 are still big for a reason.

The FCC is the one to blame. They cracked down on the joint ownership thing.
Owners had to get creative and the buy the assets and move to a LP or a sub is the way to go

I'm sure the new owners of these stations know the situation. Some have worked out for the better (like in Fargo. Use to be just CBS and now its a bunch of stations). Some not so much. The former NBC in Grand Island, Nebraska is now SBN (Jimmy Swaggart Network)

 

[localclassictvfan]

According to a write up on tvnewscheck by Wells Fargo, the Meredith Deal maybe in trouble....the main point is entering the publishing space....

 

[Mr Tony]

According to a write up on tvnewscheck by Wells Fargo, the Meredith Deal maybe in trouble....the main point is entering the publishing space....

link??