Cox sells majority TV interest to Apollo

[newsbot 269]

A Boston University professor suggests that New England Patriots owner Robert Kraft (who was a member of the partnership that owned Channel 7 before the station was sold to Ed Ansin) would be an ideal buyer for WFXT. Another possibility (and more sensible, to my mind) is John Henry, who owns the Red Sox, Boston Globe and NESN, the latter of which already has a media partnership with Boston 25. In the end, I think Fox will be WFXT's owner for the third time. But never count out Ed Ansin...

http://www.bostonherald.com/news/columnists/jessica_heslam/2018/07/robert_kraft_perfect_fit_to_buy_tv_station_wfxt

[scrabbleship 427]

How funny would it be if Tribune decided to "partner" with Cox?

 

I don't think its likely even though the only possible conflict would be Seattle.

 

Memphis would like to say hi. Truth be told it would be a solid deal for all parties, KCPQ/KZJO to Fox, WREG to Meredith or Scripps, easy peasy.

 

A Boston University professor suggests that either New England Patriots owner Robert Kraft (who was a member of the partnership that owned Channel 7 before the station was sold to Ed Ansin) would be an ideal buyer for WFXT. Another possibility (and more sensible, to my mind) is John Henry, who owns the Red Sox, Boston Globe and NESN, which already has a media partnership with Boston 25. In the end, I think Fox will be WFXT's owner for the third time. But never count out Ed Ansin...

http://www.bostonherald.com/news/columnists/jessica_heslam/2018/07/robert_kraft_perfect_fit_to_buy_tv_station_wfxt

 

I would think that Sunbeam would be out based on Top 4 stations and that ridding themselves of the corpse of WLVI would be problematic.

[DonDonP1 113]

A Boston University professor suggests that either New England Patriots owner Robert Kraft (who was a member of the partnership that owned Channel 7 before the station was sold to Ed Ansin) would be an ideal buyer for WFXT. Another possibility (and more sensible, to my mind) is John Henry, who owns the Red Sox, Boston Globe and NESN, which already has a media partnership with Boston 25. In the end, I think Fox will be WFXT's owner for the third time. But never count out Ed Ansin...

http://www.bostonherald.com/news/columnists/jessica_heslam/2018/07/robert_kraft_perfect_fit_to_buy_tv_station_wfxt

 

Fascinating. If WFXT and WHDH becomes sibling stations, then two possibilities: either FXT remains a Fox affilaite and HDH remains an independent station or the other way around.

[Surplus Engineer 38]

It's like bundling with cable. The more stations they sell at once, the lower the tax burden for each station.

 

The more individual transactions, the more of a general pain in the ass it is and the more very expensive billable hours they rack up with separate filings with regulatory agencies.

[rtmclaug 43]

I am utterly shocked that Cox is doing this. I always liked them and thought they did a great job running their stations. I hope and pray that a reputable group buys the stations.

[tyrannical bastard 3442]

They could possibly be considering a joint venture deal much like NBC had with Multimedia/Gannett purchasing the majority of WKYC, or the deal that LIN had with NBC for KXAS and KNSD.

 

I wonder if they would only sell a minority interest to keep control. This way, the money flows in but they still control their stations (although cost cutting may be a fear)...

[NEOMatrix 1295]

They could possibly be considering a joint venture deal much like NBC had with Multimedia/Gannett purchasing the majority of WKYC, or the deal that LIN had with NBC for KXAS and KNSD.

 

I wonder if they would only sell a minority interest to keep control. This way, the money flows in but they still control their stations (although cost cutting may be a fear)...

If it's a joint venture, then Sinclair may be out. Remember, the Cox family tends to lean Democrat and I doubt they would want to air the Sinclair must-runs on WSB.

[dman748 1250]

If they do that, we'll be hearing that "dangerous to our democracy" bullsmoke on WSB and WFTV and WSOC, among others, and I dread to think what that'll be like!

Sinclair right now is under lots of scrutiny from both the FCC with regards to the Tribune purchase and with the Justice Department with ad sharing stuff (which as someone mentioned in the other thread could spell the end of SSAs and JSAs as we currently know it and yes, that would include Cox in Jacksonville with WJAX/WFOX) so them and Nexstar we can rule them out as contenders for Cox.

[tyrannical bastard 3442]

If it's a joint venture, then Sinclair may be out. Remember, the Cox family tends to lean Democrat and I doubt they would want to air the Sinclair must-runs on WSB.

 

Not only that, but company founder James M. Cox was a 3-term Ohio Governor and ran unsuccessfully against Warren G. Harding for POTUS.

 

Let's only hope a certain someone doesn't throw around "his" money after 2020 or 2024 (or sometime between now and then....) And if that's the case, hopefully the FCC decides he's unfit to hold a broadcast license.

[TexasTVNews 1366]

http://www.ftvlive.com/sqsp-test/2018/7/27/meredith-scripps-could-make-a-play-for-cox

I don't know why Tegna isn't in the mix to purchase Cox stations.

[H4UL4U 127]

http://www.ftvlive.com/sqsp-test/2018/7/27/meredith-scripps-could-make-a-play-for-cox

I don't know why Tegna isn't in the mix to purchase Cox stations.

Too many conflicts. Off the top of my head I can think of four, including Jacksonville, where both Cox and Tegna have duopolies.

[GoldenShine9 1509]

Too many conflicts. Off the top of my head I can think of four, including Jacksonville, where both Cox and Tegna have duopolies.

 

Yep, Jacksonville alone is a huge sticking point for Tegna - and hence I would say they are a big longshot. That would be an absolute mess, as they would have to break it up at least 3 ways (keeping probably the 2nd and 5th rated stations, dumping the 3rd and 4th separately). They also conflict in Seattle, Atlanta and Charlotte.

[mre29 1338]

Meredith and Scripps would have one conflict each (in Atlanta and Tulsa, respectively). How is that not as bad as Tegna's four conflicts or Hearst's three?

[scrabbleship 427]

Meredith and Scripps would have one conflict each (in Atlanta and Tulsa, respectively). How is that not as bad as Tegna's four conflicts or Hearst's three?

 

Meredith and Atlanta is pretty cut and dry - WGCL to CBS while pairing WPCH with WSB. Scripps and Tulsa is slightly more problematic in that I can't think of anyone who KOKI would be a good fit for.

[T.L. Hughes 746]

Meredith and Atlanta is pretty cut and dry - WGCL to CBS while pairing WPCH with WSB. Scripps and Tulsa is slightly more problematic in that I can't think of anyone who KOKI would be a good fit for.

Meredith might be a good fit for KOKI/KMYT, mainly because the group is as much Fox-dominant as it is CBS-dominant. Nexstar might factor in, despite the fact that most of its Fox affiliates are in markets smaller than Tulsa, though it would give Nexstar sister stations in four adjacent markets (Wichita, Springfield, Joplin-Pittsburg and Fort Smith-Fayetteville-Rogers) plus sister triopolies in the Lawton-Wichita Falls and Amarillo markets (which would leave Oklahoma City and Ada-Sherman as the only markets serving some part of Oklahoma where it would still have coverage gaps). It's less clear whether it could fit in with a smaller station group.

[LouGrant 14]

Regarding conflicts, would this really be as big of a problem as some are making it out to be? Gray and Raycom have 8 or 9 if I recall and it isn't stopping them. They have a plan as to what is being divested and probably have a good idea who they will sell them to.

 

Yes, it would be preferable for all parties if there were few or no conflicts, but provided there is a plan in advance as to which stations to divest, I don't think it matters as much as other things.

[dman748 1250]

Meredith might be a good fit for KOKI/KMYT, mainly because the group is as much Fox-dominant as it is CBS-dominant. Nexstar might factor in, despite the fact that most of its Fox affiliates are in markets smaller than Tulsa, though it would give Nexstar sister stations in four adjacent markets (Wichita, Springfield, Joplin-Pittsburg and Fort Smith-Fayetteville-Rogers) plus sister triopolies in the Lawton-Wichita Falls and Amarillo markets (which would leave Oklahoma City and Ada-Sherman as the only markets serving some part of Oklahoma where it would still have coverage gaps). It's less clear whether it could fit in with a smaller station group.

Oh and a little fun fact for ya, this would reunite KOKI with fellow Fox affiliate KLRT in Little Rock (they were sister stations until the Newport sale)

[ScottSchell 268]

Oh and a little fun fact for ya, this would reunite KOKI with fellow Fox affiliate KLRT in Little Rock (they were sister stations until the Newport sale)

No it won’t KLRT is under Mission Broadcasting with Nexstar owning the station

[dman748 1250]

No it won’t KLRT is under Mission Broadcasting with Nexstar owning the station

Isn't Nexstar and Mission one in the same? Obviously the majority of the Mission-owned stations are operated by Nexstar through sharing agreements

[ScottSchell 268]

Isn't Nexstar and Mission one in the same? Obviously the majority of the Mission-owned stations are operated by Nexstar through sharing agreements

Yes but im saying that KOKI and KLRT being sister stations again won’t be true KOKI would be under Meredith if they partner with COX Media

[GoldenShine9 1509]

Regarding conflicts, would this really be as big of a problem as some are making it out to be? Gray and Raycom have 8 or 9 if I recall and it isn't stopping them. They have a plan as to what is being divested and probably have a good idea who they will sell them to.

 

Yes, it would be preferable for all parties if there were few or no conflicts, but provided there is a plan in advance as to which stations to divest, I don't think it matters as much as other things.

 

That's in a deal involving 85 markets though, and most of them are tiny where they run into conflicts. This deal involves 11 (assuming it doesn't affect a new owner), and the smallest Cox market is bigger than the largest Gray-Raycom conflict market. Either Hearst or Tegna would have multiple conflicts in top-20 markets.

 

But yes, most of us agree that Meredith and Scripps are the frontrunners (almost equally ranked), and I would consider Nexstar third in line.

[LouGrant 14]

That's in a deal involving 85 markets though, and most of them are tiny where they run into conflicts. This deal involves 11 (assuming it doesn't affect a new owner), and the smallest Cox market is bigger than the largest Gray-Raycom conflict market. Either Hearst or Tegna would have multiple conflicts in top-20 markets.

 

But yes, most of us agree that Meredith and Scripps are the frontrunners (almost equally ranked), and I would consider Nexstar third in line.

 

True, but there is probably a more limited pool of buyers that would be interested in some of the market-trailing stations in the smaller southern markets that Graycom is divesting. Meanwhile, in a Hearst-Cox merger scenario (however unlikely that wishcasting may be) I think there would be many companies interested in WFXT and whichever of the Orlando and Pittsburgh stations would be sold.

 

Nevertheless, I would agree with those who think Meredith is the most likely buyer/partner - it just seems to "fit".

[ScottSchell 268]

I don’t know if Nexstar will want to buy the Tulsa stations because they had the opportunity when we bought all the Clear Channel/ Newport stations like KLRT and they sold Tulsa’s to Cox because they didn’t want them.

[LouGrant 14]

A Boston University professor suggests that New England Patriots owner Robert Kraft (who was a member of the partnership that owned Channel 7 before the station was sold to Ed Ansin) would be an ideal buyer for WFXT. Another possibility (and more sensible, to my mind) is John Henry, who owns the Red Sox, Boston Globe and NESN, the latter of which already has a media partnership with Boston 25. In the end, I think Fox will be WFXT's owner for the third time. But never count out Ed Ansin...

http://www.bostonherald.com/news/columnists/jessica_heslam/2018/07/robert_kraft_perfect_fit_to_buy_tv_station_wfxt

Funny, I've had the exact same thought that should Sunbeam decide to cash out, John Henry and the Globe would (should?) be very interested in exploring the purchase of WHDH.

 

As for WFXT, I don't think it would make much sense for Henry or Kraft though. I doubt the Globe would be interested in tying it's brand to Fox, and I just don't see why Kraft would be interested despite his previous history (not to mention that the CBS Sporting Club at the stadium would be awkward.) Much more likely that WFXT and Cox goes to one of the larger established groups, but I agree with you that if the company is sold piecemeal that Fox would definitely be interested.

[Rusty Muck 4159]

Meredith and Hearst haven’t been merger partakers (outside of Meredith’s doomed-from-the-start buyout attempt of MediaGeneral), but have only engaged in occasional divestiture purchases from other mergers. That’s a big difference, and in all the years I’ve been on TVNT, those two have been suggested as suitors for this or that... and it almost always never comes to pass.

 

I can’t see either company wanting to buy Cox when there’s the possibility they want out of the television landscape as well. If Cox wants out, what’s stopping those two from thinking likewise?