Television group ACME Communications will be in the back seat in a set of LMA-type arrangements with LIN Media affecting stations in Albuquerque-Santa Fe NM, Dayton OH and Green Bay-Appleton WI. And it’s having a ripple effect among the group’s executive suite, and at the station level as well.
The arrangement creates shared services agreements with in Albuquerque-Santa Fe, Dayton OH, and Green Bay-Appleton WI, and the latter two markets will be the scene of joint sales agreements as well.
According to ACME, the agreement will result in termination of local GMs and the local employment base. The company expressed its gratitude for excellent work and wished everybody the best in the future.
From an ACME release, here’s how it shakes down for ACME execs:
* Doug Gealy, a co-founder who currently serves as the Company’s President and Chief Operating Officer, will become President and Chief Executive Officer.
* Stan Gill, who currently serves as the Vice President / General Manager of the Company’s KWBQ / KASY duopoly in the Albuquerque-Santa Fe marketplace, will become the Company’s Chief Operating Officer while still retaining his oversight of KWBQ and KASY.
* John Hannon, who currently serves as the Vice President / General Manager of WBDT — the Company’s Dayton station — will become the Company’s Executive Vice President.
* Tom Allen, a co-founder of the Company and its Executive Vice President and Chief Financial Officer, will transition into a consulting role, and will assist Mr. Gealy in finding appropriate exit paths for the Company. Mr. Allen will continue to serve on the Company’s Board of Directors.
* Jamie Kellner, the Company’s co-founder and current Chairman and Chief Executive Officer, will continue to serve as Chairman.
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