New Vision Television Group ceased to exist when the sale of its stations to LIN closed last fall. However, that deal did not bring an end to the interest in the business by a number of New Vision executives, who are forming a new group – Alchemedia – and are seeking stations in large and medium markets.
John Heinen, formerly New Vision’s President and Chief Operating Officer, is forming the new group, and has a significant roster of former New Vision execs on board, including:
* Eric Simontis, Chief Financial Officer
* Steve Spendlove, Executive Vice President, Broadcasting
* Dennis Elkin, Senior Vice President, New Media and Mobile TV
Other members of the New Vision team will participate in the new group.
Alchemedia is currently seeking equity and hedge fund backing, will be looking for multi-platform distribution opportunities, and will be prospecting as well for acquisition targets.
“We are excited about the future of television and local television,” said Heinen, who will serve as Alchemedia CEO. “Broadcast television is coming off an extremely strong revenue year in 2012 and remains an essential part of the marketing scheme for successful products and services providers, especially in local communities. Local television continues to provide the best source of in-depth local news and information that is not duplicated by national networks or national cable offerings. With the advent of mobile TV and the expansion of video on mobile devices and more and more portals, local content is entering another round of value expansion that we hope to monetize in the next few years”.
The group will be based in the Atlanta area.
RBR-TVBR observation: OK, a show of hands – how many think that Alchemedia is leaping into the television business simply to participate in incentive auctions? How many think that the comment about great broadcast TV revenues is a mere ploy to inflate bids from wireless companies? What, nobody is going to raise their hand? We didn’t think so…