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The Tribune Saga, Part 3: New Sale Talks


mre29

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Nothing in the last couple of weeks.

It seems to me like at this point it's either Tribune is in early stages of negotiations with whoever their merger partner will be, or they may have decided to stay in the TV business, until we get a definitive answer from Peter Kern about what Tribune plans on doing moving forward, any rumor of Tribune in talks to merge with KableCorp or whoever is just pure speculation at this point

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Les’s big thing was always refrains revenue. It’s entirely possible CBS is making more money collecting off of Ansin than moving the CW on TV 38.

Which is almost assuredly the case.

 

But wouldn’t it make sense to ... I dunno ... put it all in writing?

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It seems to me like at this point it's either Tribune is in early stages of negotiations with whoever their merger partner will be, or they may have decided to stay in the TV business, until we get a definitive answer from Peter Kern about what Tribune plans on doing moving forward, any rumor of Tribune in talks to merge with KableCorp or whoever is just pure speculation at this point

 

Tribune’s decision to close down news departments in Dallas & Houston, and layoff 120 people, seems to indicate they’re trying to make the financials look better, in the search for a new buyer.

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Where the hell have you been? The music is an update from Non-stop (WPIX V.2). Also the graphics are from Tribune Creative. It's the creative hub.

 

[MEDIA=vimeo]237344105[/MEDIA]

 

Either way, the graphics and music could both be better.

 

P.S. I know the graphics are from Tribune Creative. I thought they did a better job with the KTLA graphics than the WPIX graphics. As far as the music producer (OSI vs. Non-Stop), honest mistake.

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Tribune’s decision to close down news departments in Dallas & Houston, and layoff 120 people, seems to indicate they’re trying to make the financials look better, in the search for a new buyer.

If that's the case then we'll probably know more about where Tribune is heading (and it'll probably be a sale in some way, shape or form) by the end of the year

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Either way, the graphics and music could both be better.

 

P.S. I know the graphics are from Tribune Creative. I thought they did a better job with the KTLA graphics than the WPIX graphics. As far as the music producer (OSI vs. Non-Stop), honest mistake.

This is kind-of how I feel about WGN. Their music as well as the graphics during intros and title cards like "Breaking News" and "Developing Story" are fine and suit the station, but the lower thirds look very cheap and almost Sinclair-ish (right down to using the same font as Sinclair stations). KTLA's graphics and L3s look way better, and their L3s actually have animation to them! It looks way more professional and modern.

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If that's the case then we'll probably know more about where Tribune is heading (and it'll probably be a sale in some way, shape or form) by the end of the year

IOW, let’s throw a bunch of spaghetti at the wall, and see what sticks at years end.

 

The fate of the company will come much earlier than that, though. A company this big that’s on the market will be raided and torn apart between multiple suitors before long.

 

And if that means firing a bunch of people to make it more financially appealing, then I guess that’s the hole they want to dig.

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IOW, let’s throw a bunch of spaghetti at the wall, and see what sticks at years end.

 

The fate of the company will come much earlier than that, though. A company this big that’s on the market will be raided and torn apart between multiple suitors before long.

 

And if that means firing a bunch of people to make it more financially appealing, then I guess that’s the hole they want to dig.

How much "earlier" do you think we'll know which direction Tribune wants to go?

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I've noticed that there are more people jumping ship from KDVR/KWGN to the station in my avatar pic, KMGH. One, I think because they have worked under the new ND at KMGH (formerly at KDVR) and they know the new Assistant ND at KMGH too, who is a friend of mine, and who also worked under Holly Gaunt at KOMO. Basically, KMGH now has the makings of the former news leadership of a market 14 station.

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Not to mention that the "Fox Affiliate News Theme" is the only news theme package that OSI has published.

 

OSI was established by Reed Hays and his composing partner who created the music for FNC at the time of launch. Non-Stop has no relationship to OSI, nor are they even in the same state! It's like confusing a salmon with an octopus.

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How much "earlier" do you think we'll know which direction Tribune wants to go?

Who knows. There is no way to ascertain what's going to happen next or when. My hunches mean next to nothing.

 

All that is known is that Starboard Value is going to want some ROI after their attempt to sell the company to Sinclair failed spectacularly. But at the same time, they know the company cannot be sold off in a singular transaction. It's "too big to fail" and cannot be a clean purchase unless you're someone like Warren Buffett.

 

When Fox tried to make a run at Tribune last year, remember that they partnered with Blackstone. It's not that hard to discern what the end game was: Fox clearly intended to get the stations they wanted (most of their 2008 spin-offs + KCPQ), while Blackstone would be stuck with the rest.

 

If Fox is going to make another run after Tribune, I'd expect a similar joint venture bid.

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Either way, the graphics and music could both be better.

 

P.S. I know the graphics are from Tribune Creative. I thought they did a better job with the KTLA graphics than the WPIX graphics. As far as the music producer (OSI vs. Non-Stop), honest mistake.

 

Isn't KTLA still using a heavily modified version of their old Hothaus package just with redesigned lower 3rd graphics? So there's a reason why the KTLA graphics look better.

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Isn't KTLA still using a heavily modified version of their old Hothaus package just with redesigned lower 3rd graphics? So there's a reason why the KTLA graphics look better.

Yes...that package has been going on what now..6..7 years. I think the redesigned L3s look great..but I would look more towards KCPQ if you want an example of great graphics.

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Who knows. There is no way to ascertain what's going to happen next or when. My hunches mean next to nothing.

 

All that is known is that Starboard Value is going to want some ROI after their attempt to sell the company to Sinclair failed spectacularly. But at the same time, they know the company cannot be sold off in a singular transaction. It's "too big to fail" and cannot be a clean purchase unless you're someone like Warren Buffett.

 

When Fox tried to make a run at Tribune last year, remember that they partnered with Blackstone. It's not that hard to discern what the end game was: Fox clearly intended to get the stations they wanted (most of their 2008 spin-offs + KCPQ), while Blackstone would be stuck with the rest.

 

If Fox is going to make another run after Tribune, I'd expect a similar joint venture bid.

 

Would Blackstone flip the rest within a few years?

 

Also I expect Fox to be interested in WSFL, KTXL and KSWB too...Sinclair included them in the sale to Fox.

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Would Blackstone flip the rest within a few years?

 

Also I expect Fox to be interested in WSFL, KTXL and KSWB too...Sinclair included them in the sale to Fox.

If Blackstone is serious about being in the broadcasting industry for the long haul, no they probably won't flip but if they adopt the Local TV/Newport model, then they will flip within 3 to 5 years

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Would Blackstone flip the rest within a few years?

 

Also I expect Fox to be interested in WSFL, KTXL and KSWB too...Sinclair included them in the sale to Fox.

I’d give it less than a year with Blackstone.

 

They would be another KKR: buying the remains of a defunct company and flipping it for maximum value on their end a short time later, either as a whole or in bits and pieces. Look at what KKR did to Storer Broadcasting 33 years ago, FFS.

 

It’s how private equity works. None of those firms want to own stations for the long haul... they just want a lot of cash at the end of the day. Blackstone, Standard, Starboard Value, Bain Capital... they all operate that way.

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  • 3 weeks later...

Just to clarify: Local TV LLC (Oak Hill Capital) was a 7 year endeavor--arguably made necessary by the Great Recession, yes, but I think half the reason we've not seen quick action on Tribune yet is because TV stations can't easily be flipped vs. 20 years ago. If these private equity companies are looking to make a quick buck, they probably can't do it in TV right now. This is not going to be an "in and out in a year" scenario for anyone getting Trib.

 

Which is why I've started to wonder, if FOX wants a lot of these stations so bad, why they haven't made the deal with Trib directly, because if anyone has or will have the money to do this successfully and immediately, it's them.

 

Is Trib insisting on a package deal for affils FOX doesn't want? Is FOX waiting for Trib to sink and then pick up what they want in a fire sale? Sour grapes over Q13?

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Just to clarify: Local TV LLC (Oak Hill Capital) was a 7 year endeavor--arguably made necessary by the Great Recession, yes, but I think half the reason we've not seen quick action on Tribune yet is because TV stations can't easily be flipped vs. 20 years ago. If these private equity companies are looking to make a quick buck, they probably can't do it in TV right now. This is not going to be an "in and out in a year" scenario for anyone getting Trib.

 

Which is why I've started to wonder, if FOX wants a lot of these stations so bad, why they haven't made the deal with Trib directly, because if anyone has or will have the money to do this successfully and immediately, it's them.

 

Is Trib insisting on a package deal for affils FOX doesn't want? Is FOX waiting for Trib to sink and then pick up what they want in a fire sale? Sour grapes over Q13?

 

Maybe they're waiting for the FCC to officially dismiss the Sinclair merger applications, since those haven't been dismissed yet.

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Maybe they're waiting for the FCC to officially dismiss the Sinclair merger applications, since those haven't been dismissed yet.

 

Not only have the applications not been dismissed, there's also pending litigation.

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Not only have the applications not been dismissed, there's also pending litigation.

How long exactly will it take for the FCC to dismiss all Sinclair/Tribune-related merger applications (along with the Lawsuits related to the 2 companies)?

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Not the FCC, it's the Administrative Law Judge that doesn't seem to be in the hurry as far as dismissing it. I would not be shocked at all if this was dragged well into 2019. AND IF there is NO resolution to this by next year, Sinclair will probably put some of their stations that are up for renewal at the end of next year and into 2020 up for sale to avoid the stations' license being challenged at renewal time

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