• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

Nexstar to buy tegna?

Jonathan,
You make some great points... one interesting note however about KOIN in Portland. It is one of the most unbelievable deals when it comes to real estate in all of broadcasting. KOIN leases its space for One Dollar a year for 99 years...renewable for another 99 years! It was a deal struck in the early 80-s when developers needed the space the old KOIN studio building sat on in downtown Portland. Instead of taking cash, the owners of KOIN at the time, came up with this rental agreement. In addition, there is a ton of empty space in the KOIN offices...for control rooms...sales offices...Hubbing space.
If any mergers happen in Portland, that include KOIN, look for owners to consolidate everything in the KOIN Tower for just 1-dollar a year rent
 
If Nexstar acquires Tegna, they'll have to offload stations in Little Rock (holy hell, five stations in one market!), Tampa Bay, Grand Rapids, Buffalo; Portland, Oregon; possibly Knoxville, Abilene, Austin, San Angelo, probably Waco, and Norfolk.

Austin and Little Rock are the biggest exclamation marks, as Nexstar would nearly monopolize those cities.
 
From B&C both Nexstar & TEGNA are mum on the merger I think talks heat up once TEGNA gets rid of Cars.com on Wed. This is the next big merger to happen deal gets done sometime in June or July just my opinion.
 
BertCollins said:
Jonathan,
You make some great points... one interesting note however about KOIN in Portland. It is one of the most unbelievable deals when it comes to real estate in all of broadcasting. KOIN leases its space for One Dollar a year for 99 years...renewable for another 99 years! It was a deal struck in the early 80-s when developers needed the space the old KOIN studio building sat on in downtown Portland. Instead of taking cash, the owners of KOIN at the time, came up with this rental agreement. In addition, there is a ton of empty space in the KOIN offices...for control rooms...sales offices...Hubbing space.
If any mergers happen in Portland, that include KOIN, look for owners to consolidate everything in the KOIN Tower for just 1-dollar a year rent
Click to expand...

However, it would be at the exense of KGW, which would likely be sold
 
https://www.thestreet.com/story/141...cquisition-target-following-court-ruling.html

Here is an Update

Loosening the rules could give Gray or Nexstar greater leeway to bid for Tegna, Kurnos said.

"Tegna has been adamant [that] 'we're not selling; we look to be a buyer,'" Benchmark's Kurnos said. However, investors could push for a sale, especially if a rival such as Gray or Nexstar came forward. Gray and Nexstar declined to comment. In a June 12 statement on share buybacks, Nexstar suggested it is looking for smaller "tuck-in" deals.

Tegna's size presents a complication. The former broadcast unit of Gannett Co. Inc. (GCI) has a $3.2 billion market cap. Gray has a $1 billion valuation, while Nexstar is worth about $3 billion.

A merger with Gray could be akin to Meredith's failed 2015 merger with Media General Inc. Though Meredith's management would take the lead of the post-merger company, Media General shareholders would receive the majority of the shares. Nexstar trumped Meredith's bid.

A deal between Tegna and Nexstar could be a straight-up merger.

Tegna said Monday that it sold most of its stake in CareerBuilder.com to Apollo Global Management LLC (APO) for about $250 million, which makes it a more focused broadcast company.

"They just got a disappointing number for CareerBuilder, versus expectations, although it does clean up the story a little bit," Kurnos said of Tegna's position. "We're waiting to see the next quarter or two before somebody either decides to make a move -- or nothing happens at all."
Click to expand...
 
In my opinion, if there's any station I want Tegna to sell if they merge with Nexstar, for ownership limit purposes, it would be WCNC in Charlotte, because Tegna could sell WCNC to NBC/Comcast (making WCNC the 3rd O&O in Charlotte, after WJZY (FOX O&O) & WMYI (MyTV O&O)), because WCNC's studios are connected to the NBC News Channel, the news feed service of NBC News (and the former home of NBC Nightside) in the same complex, and it would make sense if NBC owns both the NBC News Channel and WCNC.

However, if WCNC does become an O&O from this, nothing would change for WCNC, as they would still be called NBC Charlotte, just with their logo changed to be similar to KNTV in San Francisco (NBC Bay Area) or WBTS in Boston (NBC Boston). I don't know what the probability of this happening will be, but maybe least likely.
 
Last edited:
Can't see Gray buying Tenga more likely Scripps, Nexstar which if Nexstar buys Tenga I could see Gray buying WZZM, Raycom, Hearst etc.
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.
Back
Top Bottom