Eh. The only reason why TEGNA along with Scripps have gone downhill is because they're too focused on trying to solve the issue of "how do we take our traditional newscasts and make them appeal to younger viewers".
What Nextstar and Gray realize is that by making "subtle" changes, they can appeal to both the traditional and youth markets, TEGNA and Scripps don't really grasp the situation they're in.
I'd go even further that all TV station groups (even the O&Os) will go downhill to the point where there is no recovery. Internet has replaced TV as the go to source for news unfortunately and there's no way of stopping it.
Steamboat Willie enters the public domain in 2023. And the copyrights for the Silly Symphonies start to lapse in 2024.
If you wanted to know why Disney is doing this, it’s because they’re going to lose full control of the Mouse very soon. Enter Marvel, Lucasfilm and 21CF.
As long as WTOP Radio/digital is a literal ATM, Hubbard will never sell. They have a really good radio portfolio that Scripps wouldn’t bother with.
Hearst is more than happy with the position they’ve got, plus they still own 20% of ESPN, 50% of A+E Networks, and a significant newspaper chain. M&As aren’t a priority for them.
Congress still has to sign off on any changes in ownership rules. And with this FCC, it’s automatically DOA in the Democratic House through 2020.
Perry is gambling with this option under the hope that certain people win in 2020 that he wants to win. But suffice it to say it’s not a sure bet.
Since you brought up Hubbard, I'll point out in the sale Cox is doing right now, they previously hinted at joint venture agreements with the TV and Radio stations after the sale of the television side was over. I'll touch on this more in the Speculatron but I think that if the puppy (no, not Alpha Media) goes back to bite the bones of the radio side as well, that this will lead to Hubbard (TV and Radio) being next for them.