Standard General to acquire Tegna for $8.6 Billion

[Myron Falwell 3893]

3 hours ago, noggi said:

Retrans is where the money is at now. 

WFXT is the sixth-place station in a five-station town and where WHDH kicks their butts in all the time slots that matter. This isn't about retrans, it's a practical joke Apollo is making to Soo Kim.

[PTVNews 170]

Some more context about the deal:

 

https://www.poynter.org/business-work/2022/tegna-standard-general-sale-local-tv/

[carolinanews4 233]

5 hours ago, Myron Falwell said:

Soo Kim couldn't afford Tegna on his own so he had to sell two of their prime Texas stations just to cover the balance, and they give him a turd in WFXT. Tell me how that's a good deal.

 

I wasn't attempting to convince anyone that this is a good or bad deal. I was just sharing some additional details I found in a couple articles. 

[mre29 1091]

On 2/24/2022 at 9:46 PM, Myron Falwell said:

WFXT is the sixth-place station in a five-station town and where WHDH kicks their butts in all the time slots that matter.

 

I wasn't aware that Scripps had started a news operation on WBPX.

 

Are WHDH's numbers for their 10pm news counted with or without WLVI? Because if it's with, that seems unfair.

 

[scrabbleship 426]

On 2/24/2022 at 9:46 PM, Myron Falwell said:

WFXT is the sixth-place station in a five-station town and where WHDH kicks their butts in all the time slots that matter. This isn't about retrans, it's a practical joke Apollo is making to Soo Kim.

 

If it was about retrans it would've been easier to make KPVI or KYMA be the fall guy to be honest.

[mrschimpf 1525]

1 hour ago, mre29 said:

 

I wasn't aware that Scripps had started a news operation on WBPX.

 

Are WHDH's numbers for their 10pm news counted with or without WLVI? Because if it's with, that seems unfair.

 

I think MF was also counting the hour of CBS Boston on WSBK, along with NECN there.

 

Whatever small numbers they get with WLVI at 10 are negligible in the full count from just 7 though; WFXT's presentation is very lacking and is so generic it would probably be walloped if the format was copied exactly in Peoria or Nashville.

[dman748 1240]

And now we have our first look at the Comprehensive Exibit on the deal.

 

Some of the notable highlights:

 

We're seeing a good ole facility swap in Dallas

No divestitures are being addressed

The WFXT group is tentively called Teton (and it looks like it's somewhat connected to Cox I'm not sure about that one)

 

Either way I probably got confused reading that whole exhibit.

[mrschimpf 1525]

1 hour ago, dman748 said:

And now we have our first look at the Comprehensive Exhibit on the deal.

I don't know if site filtering ate up the link but I can't seem to click on it.

[CircleSeven 1749]

 

1 hour ago, mrschimpf said:

I don't know if site filtering ate up the link but I can't seem to click on it.

That link doesn't work.

 

But yes the Paperwork is now up. Here's the comprehensive exhibit & merger agreement.

 

In regards to the Dallas situation, if you remember when Tegna bought KMPX from Estrella back in the fall of 2020, there was an option agreement in which Estrella can acquire WFAA (but only the VHF equipment (antenna, transmitter, etc.) and not the studio or programming) within five years after the original deal was completed.

 

I don't expect post-transaction Tegna would keep the other Dallas station long term. But should the option be exercised, expect the callsign & virtual channels to be swapped, but viewers won't notice the difference once they rescan their TVs. Well, other than having WFAA on a stronger UHF signal.

Quote

Post-swap:

• WFAA - VC 8.1 - RF 30 - Decatur - ID 73701 - Cox will acquire post-transaction.
• KMPX - VC 29.1 - RF 8 - Dallas - ID 72054 - Tegna will retain; Estrella has the option.

Edited March 11, 2022 by CircleSeven

[dman748 1240]

1 hour ago, mrschimpf said:

I don't know if site filtering ate up the link but I can't seem to click on it.

That's weird because it worked just fine on my end.

 

Usually Weeters is on there and I know Myron has been frequenting this particular thread I can simply private message them and let them know what's going on.

[Megatron81 132]

On 2/22/2022 at 6:01 PM, CLETVFan said:

Here's another question I have: What would (or could) happen to Daily Blast Live?  

I hope it gets cancelled never been a fan of DBL doesn't do well in the ratings DBL comes on at 7:30PM on WZZM.

[Megatron81 132]

Soo Kim getting back into the West Michigan TV market got a bad TV station with WZZM in my opinion WXMI Fox17 would've been a better station when Standard General was going to buy WXMI in the failed Sinclair Tribune merger. I have always called Standard General Media General from the dead LOL.

[PTVNews 170]

Reading through the posted docs, looks like Standard General is trying to get special permission from the FCC for the deal due to the percentage of funding being considered "foreign" is higher than regulations allowed. Standard General is arguing that it's not really foreign, just money in foreign accounts controlled by US citizens.  Anyone know if this will be a sticking point, or easy approval on this matter?

[TheSpeedKing 263]

On 2/24/2022 at 9:46 PM, Myron Falwell said:

WFXT is the sixth-place station in a five-station town and where WHDH kicks their butts in all the time slots that matter. This isn't about retrans, it's a practical joke Apollo is making to Soo Kim.

Isn't WFXT the 5th place station in a 4-station market (WBZ, WCVB, WHDH and WGBH)?  I know WGBH is noncommercial, but all four seem to do exceptionally well in some way or another, but not WFXT!

[GoldenShine9 1374]

11 hours ago, PTVNews said:

Reading through the posted docs, looks like Standard General is trying to get special permission from the FCC for the deal due to the percentage of funding being considered "foreign" is higher than regulations allowed. Standard General is arguing that it's not really foreign, just money in foreign accounts controlled by US citizens.  Anyone know if this will be a sticking point, or easy approval on this matter?

 

That would be a non-starter and likely could sink the deal.

[TheSpeedKing 263]

39 minutes ago, GoldenShine9 said:

 

That would be a non-starter and likely could sink the deal.

The FCC allowed KAXT-CD to have virtual channel 1.

 

[Samantha 2830]

12 hours ago, PTVNews said:

Reading through the posted docs, looks like Standard General is trying to get special permission from the FCC for the deal due to the percentage of funding being considered "foreign" is higher than regulations allowed. Standard General is arguing that it's not really foreign, just money in foreign accounts controlled by US citizens.  Anyone know if this will be a sticking point, or easy approval on this matter?

 

Might delay things, but I do not expect issues from petition for declaratory ruling given that this is fairly routine for people with clean ownership records. This has included some large companies like iHeart.

[Guest]

On 3/15/2022 at 7:16 PM, Samantha said:

 

Might delay things, but I do not expect issues from petition for declaratory ruling given that this is fairly routine for people with clean ownership records. This has included some large companies like iHeart.

I dunno, it just seems like the failure of the Sinclair and Tribune merger has made deals like this come under a lot of scrutiny.

[Myron Falwell 3893]

On 3/17/2022 at 1:40 AM, iWitnessNews said:

I dunno, it just seems like the failure of the Sinclair and Tribune merger has made deals like this come under a lot of scrutiny.

Sinclair was absurdly blatant trying to “offload” WPIX to Cunningham and WGN-TV to a freaking car dealership not named Big Bill Hells. That’s the equivalent of trying to rob a bank holding a bowling ball with a glued-on string “fuse”. It was so outrageous that Ajit Pai couldn’t even defend it.

[CircleSeven 1749]

The deal is now on the docket. No. 22-162 

 

Anyone who want to file a petition to deny, would have until May 23 to file.

 

For oppositions to the deny petitions, would have until June 7 to file.

 

And for replies, you would have to file those by June 17.

[Action Newsroom 992]

Tegna shareholders have approved the sale.

Edited May 17, 2022 by Action Newsroom

[Yankees4life 478]

On 5/17/2022 at 12:19 PM, Action Newsroom said:

Tegna shareholders have approved the sale.

The only thing that matters is if the FCC approves it. (God, I hope not)

[Myron Falwell 3893]

5 hours ago, Yankees4life said:

The only thing that matters is if the FCC approves it. (God, I hope not)

The tightening credit market and unfavorable interest rates are what will doom this deal. The shareholders vote was symbolic and pretty pointless.

 

Stubborn Raccoon Index for Standard General/Apollo’s purchase of Tegna is at or near 12%.

[CircleSeven 1749]

So a couple of advocacy groups (i.e. Common Cause & Public Knowledge) have asked for more information and extension of time so they can file their oppositions of this deal.

 

The FCC has granted a limited extension of time to file.

 

So anyone who wants to file a deny petition, the new deadline will be June 22. For oppositions to the deny petitions, you'll have to file those by July 7. And for replies, you'll have to file those by July 18.

[DirtyHarry 585]

On 5/19/2022 at 10:46 PM, Myron Falwell said:

The tightening credit market and unfavorable interest rates are what will doom this deal. The shareholders vote was symbolic and pretty pointless.

 

Stubborn Raccoon Index for Standard General/Apollo’s purchase of Tegna is at or near 12%.

 

Why don't you file an objection? I'm serious. Something about news suffering and a time of economic turbulence, synergies leading to people out of work, concentration of media and whenever else you can dream up. You're the man to do it.