OTA Broadcasting was a big winner in Auction 1000, the FCC's incentive auction that relinquished broadcast TV spectrum to wireless companies. It pocketed hundreds of millions of dollars, including $72,817,599 for saying farewell to a Class A TV station serving the New York Tri-State Area. Now, the channel-sharing agreement for the disappearing over-the-air station is bringing this "zombie" to one of the nation's best-known PBS member stations.
That's the key takeaway on CBS Corp.'s Q3 earnings results, released just after the Closing Bell on Wall Street Thursday, from prolific Wall Street financial analyst Brian Wieser of Pivotal Research Group. While CBS's revenue climbed to $3.17 billion, from $3.08 billion, the Local Media segment lagged. That's CBS Television O&Os and the company's digital assets. Meanwhile, net earnings for Q3 climbed ... but adjusted net earnings decreased by 4% when factoring in CBS Radio. Here's what Wieser, the Senior Research Analyst of Advertising at Pivotal, has to say about the quarter -- the company's last to feature CBS Radio as part of its results.
The tranquil town of Red Lion, Pa., nestled to the southeast of York, Pa., has now attracted national headlines for another "zombie" capture. This time, there's a multi-million payment involved, and a big pay-day for the seller. The deal was signed and sealed on Aug. 29. However, it's only now been filed with the FCC.
There are plenty of concerns surfacing across the nation about the proposed merger between Sinclair Broadcast Group and Tribune Media. The latest entity to voice its opposition to the deal is an association representing some 800 of the smallest, mostly rural cable operators scattered throughout the U.S.
It's been a difficult 10 full months since WBTS-LD signed on the air as "NBC Boston." News ratings have lagged. But, NBCUniversal is hardly giving up—it's just engaged in a complex deal that transfers a channel-sharing agreement tied to a Class A TV station that fetched millions in the FCC spectrum auction to WBTS, presumably to bump up its signal in the greater Boston area.
One of the nation's biggest noncommercial public media entities has added another outlet to its collection of Boston broadcast properties. It's a post-Spectrum Auction Channel-Sharing Agreement (CSA), and no dollars are trading hands. That's fine. Both the donor and the recipient of the CSA collected millions of dollars in the FCC's Auction 1000.
As astute RBR+TVBR readers likely know, "TV-49 Inc." is an entity tied to Norman Shapiro’s Weigel Broadcasting Co. Quietly and with no comment, the Commission on Friday (10/20) gave its approval to an application filed Sept. 11 that sees Southern California License LLC selling the channel-sharing agreement for KAZA-TV, licensed to the island municipality of Avalon, Calif., to TV-49 for $9 million. Now, TV-49 is adding a pair of TV stations in Northern California and a pair of TV stations in the Pacific Northwest's biggest DMA.
Just in time for Halloween, a "zombie" has surfaced in Washington. And, the Commission is comfortable enough with this creature living on an island off the coast of Los Angeles that it's treating it unlike Godzilla. That's because the FCC has given its approval to the first-ever transaction involving a channel-sharing agreement, a so-called "zombie" station resulting from the Commission's incentive auction, before the channel-sharing has even commenced.
One of the nation's largest media companies serving Hispanic consumers has added a UHF property set to shift channels as part of the FCC's post-Incentive Auction repack process. It's in Texas' state capital, where this company enjoys already owns two TV stations — along with a pair of FMs. Kalil & Co. served as the exclusive broker in this transaction.
Educational Media Foundation is at it again: It's purchased yet another FM, and this time it is a silent facility serving a region of inland Southern California sandwiched between Riverside and San Diego. It's our top deal in RBR+TVBR's TRANSACTIONS TODAY for Oct. 17, 2017.
A full-power VHF station licensed to Del Rio, Texas that fell silent in May 2016 will soon be resuscitated and brought back to life — under new ownership. The facility has just been sold to a pair of individuals very familiar with Spanish-language television, which is a big part of this station's most recent past. Kalil & Co. represented the buyers as the broker in this deal.
The sell-off of low-power TV stations by a religious non-commercial broadcaster continued Friday, as a Form 314 filing with the FCC confirms it is shedding 14 more LPTVs in such big markets as St. Louis, Minneapolis, and San Antonio. The divestment follows a $3.2 million deal finalized in March.
A Channel-Sharing Agreement for a Class A television station licensed to Miami, Fla., that's going away thanks to the FCC's Incentive Auction has been donated to the entity in control of two large PBS member stations serving South Florida.
Two Class A television stations serving the New York metropolitan area and the Chicago DMA are for sale. Patrick Communications will benefit from their sale, as they have been retained by the seller to make a deal happen.
There's no getting around this bruising bit of data from S&P Global Market Intelligence-owned media research group Kagan: U.S. broadcast station mergers and acquisitions volume reached $189.6 million in Q3 2017. This is the lowest quarterly deal volume of the year. But, the previous two quarters were skewed by two billion-dollar deals.