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Sinclair and Tribune Part 2: The Redux


Weeters

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I still don't understand why Sinclair continues with this deal if they don't have some authority over WGN and the engine behind it that can REALLY make them successful/dangerous.

 

I just don't get it.

 

The press release says that Sinclair will run WGN through operating agreements.

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The interesting thing about this is that the Smith family is setting up Cunningham as a separate and duplicative operation, and that will apparently be enough for the Justice Department (the FCC has had no problem with Cunningham and Sinclair mostly being controlled by the same people beyond a $40,000 slap on the wrist back in 2001).

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Most of the paperwork regarding the spin-offs are now posted. But to point out, in regards to Scranton.

  • WOLF wants to form a duopoly with WSWB because the latter is not in the top-4 (Remember, the eight voice test is squashed).
  • WOLF also wants continued satellite authority to be repeated on WQMY.
  • WOLF also wants to continue the news share agreement with Sinclair-owned WSBT after closing.

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WOLF also wants to continue the news share agreement with Sinclair-owned WSBT after closing.

 

And they're not moving it to WNEP Because? It's one thing to let Sinclair continue to produce your newscasts after you're sold off but they're selling you off to buy a competing station that has a news department right there in the city. At least transfer that back to WNEP.

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And they're not moving it to WNEP Because? It's one thing to let Sinclair continue to produce your newscasts after you're sold off but they're selling you off to buy a competing station that has a news department right there in the city. At least transfer that back to WNEP.

 

Probably to keep Standard General from entering into an agreement with Nexstar, like they did before they premiered the "outsourced" newscast. Before 2010, it was WNEP that produced their shows.

Here's an aborted newscast that FOX 56 decided to pass on, December 31, 2009.

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Probably to keep Standard General from entering into an agreement with Nexstar, like they did before they premiered the "outsourced" newscast. Before 2010, it was WNEP that produced their shows.

Here's an aborted newscast that FOX 56 decided to pass on, December 31, 2009.

I think the move to continue to outsource the 10pm newscast to South Bend should only be temporary until WOLF gets a Scranton-based in-house news department going

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I think the move to continue to outsource the 10pm newscast to South Bend should only be temporary until WOLF gets a Scranton-based in-house news department going

 

That's if Standard Media decides to do so.

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That's if Standard Media decides to do so.

Does Ms. McDermott have a track record of adding/subtracting newscasts and building news departments from the ground up?

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I think the move to continue to outsource the 10pm newscast to South Bend should only be temporary until WOLF gets a Scranton-based in-house news department going

 

That's a completely reasonable transitional services situation.

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Well folks, today is "somewhat" of a milestone. One year ago today was the day they'd announced this damn deal.

 

This starts a three-month countdown to close this deal. Now had'nt they receive shareholder approval back in the fall, the outside date would've been today. But since they did, August 8 is the date.

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And as posted in the other thread, dealReporter is reporting that the DOJ has approved the divestitures made by Sinclair to close the deal to purchase Tribune

https://seekingalpha.com/news/3354673-report-doj-approving-sinclair-tribune-divestitures-deal

 

EDIT: Some analysts think that Justice/FCC are not satisfied with Sinclair selling KAUT, KMYU, KZJO, KDAF, KIAH and WGN to affiliated 3rd parties

https://www.broadcastingcable.com/news/sinclair-hopes-fifth-times-the-charm

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St. Louis might be the holdup from the DOJ in this amended description.

 

They've placed KDNL & KPLR back into the trust until the DOJ finish the review in the St. Louis market.

Applicants have since withdrawn the Form 315 application for transfer of control of KPLR-TV, St. Louis, and have filed applications seeking Commission consent to place KPLR-TV and KDNL-TV in a divestiture trust (the “Divestiture Trust Applications”). As detailed in the Comprehensive Exhibit, Applicants will be required to divest one of these stations in order to comply with the Commission’s duopoly rule. Because DOJ has not yet approved a buyer for KPLR-TV (or, in the alternative, for KDNL-TV), Applicants are filing applications seeking consent to assign or transfer each of the stations to the trust pending completion of such review. Accordingly, once Applicants know which station will be divested, Applicants will, prior to grant, (i) amend the Divestiture Trust Applications to specify which station will be placed in the trust, and (ii) withdraw the Divestiture Trust Application for the station that will not be divested. As a result, by the time the parties are ready to close the Transaction, they will assign or transfer to the trust only the station to be divested. The assignment or transfer to the trust will occur immediately prior to the closing of the Transaction.

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St. Louis might be the holdup from the DOJ in this amended description.

 

They've placed KDNL & KPLR back into the trust until the DOJ finish the review in the St. Louis market.

 

Unless I misread that, the deal to sell KPLR to Meredith fell through. Is that a new development?

 

It also seems to argue that Sinclair owning 3 stations in St. Louis won't "“result in a single firm’s obtaining a significantly larger market share than other stations and reduced incentives for commonly owned local stations to compete for programming, advertising, and audience shares.”

 

What a steaming load of garbage. It seems to ignore the fact that it already owns one station in St. Louis and did a very bad job of running it on top of that.

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Unless I misread that, the deal to sell KPLR to Meredith fell through. Is that a new development?

(ii) reflect that Applicants have withdrawn the application to transfer control of KPLR-TV to Meredith Corporation;

You did not read it wrong. Could've just wait it out until DOJ finish the review but Sinclair wants to close this thing, thus placing the two stations back to the trust.

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You did not read it wrong. Could've just wait it out until DOJ finish the review but Sinclair wants to close this thing, thus placing the two stations back to the trust.

 

This also caught my eye:

 

In the event that the DOJ requires that Sinclair divest KDNL-TV instead of KPLRTV, Sinclair will acquire KPLR-TV.

Apparently the DOJ is entertaining the idea of selling KDNL instead of KPLR. Considering how mismanaged that station has been under Sinclair, I can't imagine that many more people lining up to buy it.

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St. Louis might be the holdup from the DOJ in this amended description.

 

They've placed KDNL & KPLR back into the trust until the DOJ finish the review in the St. Louis market.

Is the DOJ through with Indianapolis, Seattle and Oklahoma City or is the DOJ still reviewing those 3 markets in addition to St. Louis?

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Schettenhelm thinks that the Sinclair can get FCC approval before the D.C. Circuit rules in the UHF Discount case.

[MEDIA=twitter]994910649443606529[/MEDIA]

 

But what if the court rules BEFORE they can close the deal? Because I have a feeling that the DC Circuit might rule at anytime. And some believe that Free Press is going to win this case. So it going to go down to how they rule.

 

Court rules in favor of Free Press, before they can close the Tribune deal, they're screwed.

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St. Louis might be the holdup from the DOJ in this amended description.

 

They've placed KDNL & KPLR back into the trust until the DOJ finish the review in the St. Louis market.

 

Sinclair should probably do the same in Indianapolis. I would think the DOJ might have issues with the waiver request to keep WXIN and WTTV/WTTK, considering that the market conditions that made it plausible for the two to become commonly owned when Tribune bought WTTV from Sinclair in 2002 are not the same today, now that WTTV/WTTK is a CBS affiliate and, according to Sinclair's own filings on the deal, is now a top-4 outlet and presumably has increased its advertising share to a level where it brushes against the agency's own television duopoly regulations.

 

In that scenario, WXIN could easily contributed to the existing sale agreements with Fox, or either station could be contributed to the Standard Media deal.

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Sinclair should probably do the same in Indianapolis. I would think the DOJ might have issues with the waiver request to keep WXIN and WTTV/WTTK, considering that the market conditions that made it plausible for the two to become commonly owned when Tribune bought WTTV from Sinclair in 2002 are not the same today, now that WTTV/WTTK is a CBS affiliate and, according to Sinclair's own filings on the deal, is now a top-4 outlet and presumably has increased its advertising share to a level where it brushes against the agency's own television duopoly regulations.

 

In that scenario, WXIN could easily contributed to the existing sale agreements with Fox, or either station could be contributed to the Standard Media deal.

Which makes me wonder why hasn't Sinclair placed WXIN/WTTV back in the divestment trust given that clearly that not only is WTTV in the Top 4 but the increased advertising share also?

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This also caught my eye:

 

In the event that the DOJ requires that Sinclair divest KDNL-TV instead of KPLRTV, Sinclair will acquire KPLR-TV.

Apparently the DOJ is entertaining the idea of selling KDNL instead of KPLR. Considering how mismanaged that station has been under Sinclair, I can't imagine that many more people lining up to buy it.

 

The sale of KDNL to another competent owner might spur them to actually do something with the television station, unless Sinclair takes the ABC affiliation with it.

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