dman748 1250 Posted July 21, 2018 Share Posted July 21, 2018 They're back at square one with no stations and have to start the process all over again with no guarantee they get any stations this time around. That would fall under any definition of a loss. They may have to get stations anyway because if I'm correct Standard has to pay at least $20 million to Sinclair for their breakup fees Link to comment Share on other sites More sharing options...
DonDonP1 113 Posted July 21, 2018 Share Posted July 21, 2018 They may have to get stations anyway because if I'm correct Standard has to pay at least $20 million to Sinclair for their breakup fees Well, the same may go for Fox Television, as I have been hoping for another network-owned TV station in Seattle and am not giving up that hope yet. Link to comment Share on other sites More sharing options...
Eat News 4738 Posted July 21, 2018 Share Posted July 21, 2018 They may have to get stations anyway because if I'm correct Standard has to pay at least $20 million to Sinclair for their breakup fees I wish I could get paid millions of dollars to breakup with somebody.... Anybody? Link to comment Share on other sites More sharing options...
Rusty Muck 4162 Posted July 21, 2018 Share Posted July 21, 2018 They may have to get stations anyway because if I'm correct Standard has to pay at least $20 million to Sinclair for their breakup fees How do you have to pay for a breakup fee when the deal your transaction was wholly contingent on falls apart, rendering your deal null and void through no fault of your own? If Standard General has to pay Sinclair $20M for something that is totally out of their control, that is absolutely insane and shows they don't deserve to own anything. Link to comment Share on other sites More sharing options...
ColtFromGulfcoast 695 Posted July 21, 2018 Share Posted July 21, 2018 Well, if that is true, there goes Fox's chance of buying seven TMC-owned stations, including Seattle's KCPQ. Oh, well. Sorry for the repetitions. Actually, don't count them out or these other companies. Someone has to make these purchases and since Sinclair won't be able to, you just know that Fox is gonna be the first one at the table getting what they want. If you're Fox or anyone else, you want the Sinclair deal to fall through so that you can go back and get more than what you walked away with initially. How do you know Fox didn't want KZJO, KWGN or WITI? Well, we'll find out all that and more later. Link to comment Share on other sites More sharing options...
dman748 1250 Posted July 21, 2018 Share Posted July 21, 2018 How do you have to pay for a breakup fee when the deal your transaction was wholly contingent on falls apart, rendering your deal null and void through no fault of your own? If Standard General has to pay Sinclair $20M for something that is totally out of their control, that is absolutely insane and shows they don't deserve to own anything. I think the problem with this (and this goes back to Sinclair's illegal practices), Standard General paid $441 million to buy 9 TV stations and yet Sinclair is only giving Soo Kim $20 million dollars to pay if the deal collapses (which it probably will) why does Soo Kim only have to pay $20 million in breakup fees for a deal in which he paid $441 million to buy 9 stations? I'm sorry but I think Standard got scammed by Sinclair's scamming practices that $20 million should be at least $100 million, maybe $200 million but not $20 million Actually, don't count them out or these other companies. Someone has to make these purchases and since Sinclair won't be able to, you just know that Fox is gonna be the first one at the table getting what they want. If you're Fox or anyone else, you want the Sinclair deal to fall through so that you can go back and get more than you walked away with initially. How do you know Fox didn't want KZJO, KWGN or WITI? Well, we'll find out all that and more later. I think Fox wanted to keep KZJO and KWGN together with KDVR and KCPQ but apparently, Sinclair refused to give it to Fox Speaking of Fox, Sinclair may have scammed Fox as well, by not giving Fox a dime to pay in breakup fees Not a very good look for Sinclair and the ALJ may have to look into that since how the FCC didn't even mention about that Link to comment Share on other sites More sharing options...
channel2 869 Posted July 21, 2018 Share Posted July 21, 2018 The fact that Tribune has to pay Sinclair a breakup fee if the deal is terminated is in and of itself evidence of how self-important Sinclair is. It's usually the buyer that pays the seller a termination fee! Link to comment Share on other sites More sharing options...
dman748 1250 Posted July 21, 2018 Share Posted July 21, 2018 The fact that Tribune has to pay Sinclair a breakup fee if the deal is terminated is in and of itself evidence of how self-important Sinclair is. It's usually the buyer that pays the seller a termination fee! So why is Sinclair only paying $20 million to Standard and they don't pay a single nickel to Fox? Something's fishy with that picture and that needs to be investigated Link to comment Share on other sites More sharing options...
mre29 1340 Posted July 21, 2018 Share Posted July 21, 2018 So, basically, the Scripps stations that aren't dumpster fires How do you have to pay for a breakup fee when the deal your transaction was wholly contingent on falls apart, rendering your deal null and void through no fault of your own? If Standard General has to pay Sinclair $20M for something that is totally out of their control, that is absolutely insane and shows they don't deserve to own anything. Yeah, that doesn't pass the smell test. Both Standard General and Fox should be off the hook. As for Tribune having to pay Sinclair...well, do we know which company proposed the deal in the first place? That's the company that should be paying. Link to comment Share on other sites More sharing options...
Rusty Muck 4162 Posted July 21, 2018 Share Posted July 21, 2018 So why is Sinclair only paying $20 million to Standard and they don't pay a single nickel to Fox? Something's fishy with that picture and that needs to be investigated If the deal is nullified, then no one has to pay anything. You can't pay a fee for a failed transaction that couldn't happen WHEN THE ORIGINAL DEAL YOUR TRANSACTION WAS 100% DEPENDANT ON FELL APART. It's so insanely simple here. Standard General doesn't owe Sinclair a damn thing. And quite frankly, if Sinclair tries to force Standard General to pay a $20M fee for something that is totally not going to happen, the court challenges will be breathtaking. Link to comment Share on other sites More sharing options...
dman748 1250 Posted July 21, 2018 Share Posted July 21, 2018 So, basically, the Scripps stations that aren't dumpster fires Yeah, that doesn't pass the smell test. Both Standard General and Fox should be off the hook. As for Tribune having to pay Sinclair...well, do we know which company proposed the deal in the first place? That's the company that should be paying. And rightfully so, should the administrative judge look into the breakup fees that Sinclair is making Tribune, Standard, and Fox to pay? If the deal is nullified, then no one has to pay anything. You can't pay a fee for a failed transaction that couldn't happen when the original deal fell apart. It's so insanely simple here. Standard General doesn't owe Sinclair a damn thing. And quite frankly, if Sinclair tries to force Standard General to pay a $20M fee for something that is totally not going to happen, the court challenges will be breathtaking. And quite frankly they shouldn't have to anyway that's way too cheap for Standard to pay in breakup fee and for Fox to not pay a single nickel (which they probably will anyway) Link to comment Share on other sites More sharing options...
Rusty Muck 4162 Posted July 21, 2018 Share Posted July 21, 2018 And quite frankly they shouldn't have to anyway that's way too cheap for Standard to pay in breakup fee and for Fox to not pay a single nickel (which they probably will anyway) Fox and Standard General owe nothing. Zip. Zero. Nada. This is a totally dead side issue! Those deals are dead, they owe nothing and no judge is going to force them to pay a fine they don't need to pay in any way, shape or form! Link to comment Share on other sites More sharing options...
dman748 1250 Posted July 21, 2018 Share Posted July 21, 2018 Fox and Standard General owe nothing. Zip. Zero. Nada. This is a totally dead side issue! Those deals are dead, they owe nothing and no judge is going to force them to pay a fine they don't need to pay in any way, shape or form! But if Sinclair did force Standard to pay $20 million for a deal that collapsed because of the Tribune deal collapsing then the Judge will tell Sinclair to just take the hike. Knowing how stupid Sinclair has been throughout the whole entire process with the FCC over the Tribune deal, it'll probably make Standard General pay the $20 million breakup fee but then Standard takes Sinclair to court and the judge will reduce that breakup fee to $0 dollars Link to comment Share on other sites More sharing options...
Rusty Muck 4162 Posted July 21, 2018 Share Posted July 21, 2018 As for Tribune having to pay Sinclair...well, do we know which company proposed the deal in the first place? That's the company that should be paying. Well, maybe read the news stories from last April to see who did what first. I'm actually not being snarky here. It was the Chicago Tribune's reporting on the WGN-TV shell sham that Paid Off all but cited in his de facto killing off of the Sinclair-Tribune merger. There was quite a bit of stories out there in the weeks leading up to the merger announcement, I'm pretty sure that conclusions can be ascertained fairly easily. Link to comment Share on other sites More sharing options...
channel2 869 Posted July 21, 2018 Share Posted July 21, 2018 I thought Sinclair won an auction? Link to comment Share on other sites More sharing options...
Rusty Muck 4162 Posted July 21, 2018 Share Posted July 21, 2018 But if Sinclair did force Standard to pay $20 million for a deal that collapsed because of the Tribune deal collapsing then the Judge will tell Sinclair to just take the hike. Knowing how stupid Sinclair has been throughout the whole entire process with the FCC over the Tribune deal, it'll probably make Standard General pay the $20 million breakup fee but then Standard takes Sinclair to court and the judge will reduce that breakup fee to $0 dollars Right now, Sinclair has to be on their bestest best behavior just so they don't have any additional scrutiny placed upon them. Best they can hope for is a fine and some public admonishment by the FCC, but that means they can't do anything funny from here on out... like trying to collect for a nullified fine that would be thrown out automatically by the dog warden in Meigs County, Ohio, let alone any elected or appointed judge. Listen to me here. They won't collect for those breakup fees, and it is highly possible they may not attempt to collect for the $135M breakup fee by Tribune. Sinclair may be greedy, but they aren't suicidal. Link to comment Share on other sites More sharing options...
dman748 1250 Posted July 21, 2018 Share Posted July 21, 2018 Right now, Sinclair has to be on their bestest best behavior just so they don't have any additional scrutiny placed upon them. Best they can hope for is a fine and some public admonishment by the FCC, but that means they can't do anything funny from here on out... like trying to collect for a nullified fine that would be thrown out automatically by the dog warden in Meigs County, Ohio, let alone any elected or appointed judge. Sinclair may be greedy, but they aren't suicidal. And they do anything stupid from now on and they become the next RKO General correct? Link to comment Share on other sites More sharing options...
Rusty Muck 4162 Posted July 21, 2018 Share Posted July 21, 2018 And they do anything stupid from now on and they become the next RKO General correct? No. And there's a serious reason why, and it has nothing to do with the leadership at the FCC. RKO General's issues dated back to a license challenge against KHJ-TV in 1965 that involved accusations of illegal trade practices. It took 12 years of court challenges before RKO General admitted to a litany of violations, infractions and outright lying, and even then, it took an additional 10 years until the FCC stripped them of the ability to hold a license. Between the 1977 point of admission and the FCC's 1986 "death penalty" on RKO General, one license actually was lost: Boston's WNAC-TV. WOR-TV almost joined WNAC in that boat, but the city of license moved to Secaucus NJ saved them from that indignity. Sinclair has one big thing in common with RKO General: lying to the FCC, which operates under the honor system. But look at how long it took for RKO General... 22 years of court challenge, investigations and endless appeals. These don't happen in a vacuum. Link to comment Share on other sites More sharing options...
GoldenShine9 1509 Posted July 22, 2018 Share Posted July 22, 2018 Well, maybe read the news stories from last April to see who did what first. I'm actually not being snarky here. It was the Chicago Tribune's reporting on the WGN-TV shell sham that Paid Off all but cited in his de facto killing off of the Sinclair-Tribune merger. There was quite a bit of stories out there in the weeks leading up to the merger announcement, I'm pretty sure that conclusions can be ascertained fairly easily. In the early days of the deal, there was a $15 million acquisition of WPIX by Cunningham involved too. That is probably the most insane - VHF in the largest market for $15M? That would be about the price for a VHF station in market 175. Link to comment Share on other sites More sharing options...
dman748 1250 Posted July 22, 2018 Share Posted July 22, 2018 No. And there's a serious reason why, and it has nothing to do with the leadership at the FCC. RKO General's issues dated back to a license challenge against KHJ-TV in 1965 that involved accusations of illegal trade practices. It took 12 years of court challenges before RKO General admitted to a litany of violations, infractions and outright lying, and even then, it took an additional 10 years until the FCC stripped them of the ability to hold a license. Between the 1977 point of admission and the FCC's 1986 "death penalty" on RKO General, one license actually was lost: Boston's WNAC-TV. WOR-TV almost joined WNAC in that boat, but the city of license moved to Secaucus NJ saved them from that indignity. Sinclair has one big thing in common with RKO General: lying to the FCC, which operates under the honor system. But look at how long it took for RKO General... 22 years of court challenge, investigations and endless appeals. These don't happen in a vacuum. That last part of that sentence tells me one thing and one thing only: Do not expect Sinclair to attempt another big purchase after what they did during the entire process of trying to acquire Tribune Link to comment Share on other sites More sharing options...
mre29 1340 Posted July 22, 2018 Share Posted July 22, 2018 RKO General's issues dated back to a license challenge against KHJ-TV in 1965 that involved accusations of illegal trade practices. It took 12 years of court challenges before RKO General admitted to a litany of violations, infractions and outright lying, and even then, it took an additional 10 years until the FCC stripped them of the ability to hold a license. Dang...Was anyone who had been in RKOG's senior management in '65 even still around 22 years later? Link to comment Share on other sites More sharing options...
tyrannical bastard 3442 Posted July 22, 2018 Share Posted July 22, 2018 With the time it took for RKO General to unravel through the courts and stripping of their licenses, is about the same amount of time Clear Channel mushroomed into the radio mega-conglomerate it has become, and under iHeart, crippling debt and bankruptcy. Could be the double whammy that is able to do in Sinclair once and for all...it will just take a while.... Link to comment Share on other sites More sharing options...
DonDonP1 113 Posted July 22, 2018 Share Posted July 22, 2018 Fox and Standard General owe nothing. Zip. Zero. Nada. This is a totally dead side issue! Those deals are dead, they owe nothing and no judge is going to force them to pay a fine they don't need to pay in any way, shape or form! Oh, just as I thought. Well, whether or not the SBG-TMC deal would come into fruition, I am not ready to give up my hope for another network-owned TV station in Seattle. My family and I used to live in an area that has several plus network-owned TV stations. My apologies for my ramblings and repetitions. Link to comment Share on other sites More sharing options...
mre29 1340 Posted July 22, 2018 Share Posted July 22, 2018 With the time it took for RKO General to unravel through the courts and stripping of their licenses, is about the same amount of time Clear Channel mushroomed into the radio mega-conglomerate it has become, and under iHeart, crippling debt and bankruptcy. Could be the double whammy that is able to do in Sinclair once and for all...it will just take a while.... I look forward to 2040, then. Link to comment Share on other sites More sharing options...
dman748 1250 Posted July 22, 2018 Share Posted July 22, 2018 I look forward to 2040, then. Or 2035 or 2030, however long it takes Link to comment Share on other sites More sharing options...
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