Newport Television group said to be on the block


DealProvidence Equity Partners formed Newport Television LLC and acquired radio giant Clear Channel’s television assets about four years ago for a bit more than $1B, and now it’s said to be exploring its options for the group. Prominent among those options is selling it.

The group, guided by Sandy DiPasquale, consists of 56 stations in 20 markets. In the mix are affiliates of a full menu of national networks, including ABC, NBC, CBS, FOX, CW, MyNetwork and Telemundo. The group operates numerous digital multicasts, and also has SSAs with various stations which are under separate ownership. The possible sale was noted in a Reuters report.

According to the group’s 2008 release describing its transaction with Clear Channel, it paid $1.012B for the group, including $260M in equity.

“These are quality television stations, and I am excited about the opportunity to work with Providence and the CCTV employees to build on their success integrating broadcast and internet services to meet their customers’ evolving needs,” said DiPasquale at the time of acquisition.
In terms of Nielsen DMA rankings, Newport’s markets run from #33 Salt Lake City to #177 Watertown NY and are scattered throughout the continental United States. Here is the full list ranked by size:

Salt Lake City UT (33)
Cincinnati OH (35)
San Antonio TX (36)
Harrisburg-Lancaster-Lebanon-York PA (41)
Jacksonville FL (47)
Memphis TN (49)
Fresno-Visalia (55)
Little Rock-Pine Bluff AR (56)
Albany-Schenectady-Troy NY (58)
Tulsa OK (59)
Mobile AL-Pensacola FL (60)
Wichita-Hutchinson KS (67)
Rochester NY (80)
Syracuse NY (84)
Eugene OR (121)
Bakersfield CA (126)
Binghamton NY (157)
Elmira-Corning NY (174)
Jackson TN (176)
Watertown NY (177)