Newport spins $1B worth of TVs to three buyers

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SoldProvidence Equity Partners is selling the bulk of its Newport Television group to three – well, four buyers – Nexstar and a partner will be getting the most stations – 12 — while paying the least amount of money, Sinclair is the big spender for six, and Cox is grabbing four.


The Sinclair portion of the deal also includes operator rights in two LMAs that will transfer over from Newport.

Sandy DiPasquale, President and Chief Executive Officer, said, “These divestitures are the result of a thoughtful strategic review process conducted by the Board to maximize value at Newport, and we believe these high quality stations will have a bright future with their new owners. Nexstar, Sinclair, and Cox are well-suited to foster continued success at each of these stations. We and our partners at Providence appreciate the hard work and dedication of all the employees at our television stations. We are in discussions with potential buyers of our remaining stations and are confident we will find the right new owner for each of them.”

Sinclair is spending $412.5M, and here’s what it is getting:
Cincinnati OH (35)
* WKRC-TV CBS/CW
San Antonio TX (36)
* WOAI-TV NBC/Mexicanal
Harrisburg-Lancaster-Lebanon-York PA (41)
* WHP-TV CBS/MNTV
* WLYH-TV CW/ CoolTV (LMA)
Mobile AL-Pensacola FL (60)
* WPMI-TV NBC/weather
* WJTC-TV Indy
Wichita-Hutchinson KS (67)
* KSAS-TV Fox/CoolTV
* KMTW-TV MNTV/Country (LMA)

Cox will spend an estimated $300M for the following:
Jacksonville FL (47)
* WTEV-TV CBS/CoolTV
* WAWS-TV Fox/RTN/MNTV
Tulsa OK (59)
* KOKI-TV Fox/CoolTV
* KMYT-TV MNTV/Country

Nexstar is being joined by Mission Broadcasting in the $285.5M acquisition of 12 stations in eight DMAs. Mission is buying two in Little Rock, where Nexstar already has a pair of stations in its portfolio. It also picked up Newport’s Inergize Digital operation. Here are the stations
Salt Lake City UT (33)
* KTVX-TV ABC/CoolTV
* KUCW-TV CW/Country
Memphis TN (49)
* WPTY-TV ABC/CoolTV
* WLMT-TV CW/RTN/MNTV
Little Rock-Pine Bluff AR (56) – both going to Mission Broadcasting
* KLRT-TV Fox/CoolTV
* KASN-TV CW/Country
Syracuse NY (84)
* WSYR-TV ABC/NewsChannel 9
Binghamton NY (157)
* WIVT-TV ABC
* WBGH-TV NBC
Elmira-Corning NY (174)
* WETM-TV NBC/indy
Jackson TN (176)
* WJKT-TV Fox/CoolTV
Watertown NY (177
* WWTI-TV ABC/CW

Still on the shelf at Newport are:
Fresno-Visalia (55)
* KGPE-TV CBS/Country
Albany-Schenectady-Troy NY (58)
* WXXA-TV Fox/ CoolTV
Rochester NY (80)
* WHAM-TV ABC/CW
Eugene OR (121)
* KMTR-TV NBC/CW
Bakersfield CA (126)
* KGET-TV NBC/CW
* KKEY-LP Telemundo