Tribune Deal to Make Nexstar Top Local TV Operator in U.S.

Texas-based Nexstar Media Group has inked a deal to acquire Tribune Media for about $4.1 billion, which will make Nexstar the largest local U.S. TV operator. The news comes on the heels of Sinclair Broadcast Group’s thwarted deal to purchase Tribune for $3.9 billion, which fell through due to regulatory issues. According to sources, Nexstar made an all-cash offer for Tribune, valued at around $46.50 per share. The company, which has a market capitalization of $3.8 billion, was also able to outbid private equity firm Apollo Global Management. Continue reading Tribune Deal to Make Nexstar Top Local TV Operator in U.S.

FCC Reverses Decades-Old Media Cross-Ownership Rules

As expected, the Republican-led FCC voted 3-2 along party lines yesterday to reverse the media cross-ownership ban. Now, an individual company will be permitted to own TV and radio stations and a newspaper in the same town. Changes to the rules, which were originally created to prevent individual entities from holding an unwanted amount of power over local news and information, also makes it possible to increase the number of TV stations that a single company can own in a given market. The deregulation was largely supported by broadband, cable and media companies, while opposed by consumer advocates concerned about the future of local news and diversity of expression. Continue reading FCC Reverses Decades-Old Media Cross-Ownership Rules

FCC Reveals Plan to Roll Back Local Media Ownership Rules

The FCC plans to change rules regarding local media ownership, claiming the 42-year old rules are now outdated. FCC chair Ajit Pai revealed yesterday during a congressional hearing that there will be a vote next month to loosen current rules that prevent companies from owning a newspaper and a broadcast station within the same market. The rules originally intended to guarantee diversity of expression while aiming to curb undue influence over public opinion by an individual or single company. Democratic lawmakers voiced opposition during the hearing, but Pai defended the proposed plan and other recent deregulatory moves. Continue reading FCC Reveals Plan to Roll Back Local Media Ownership Rules

Sinclair Broadcast Group to Acquire Tribune Media Company

Maryland-based Sinclair Broadcast Group announced it will acquire the Tribune Media Company, which owns 42 television stations across 33 markets. Chicago-based Tribune also owns cable network WGN America, digital multicast network Antenna TV, and holds minority stakes in Food Network and CareerBuilder. Sinclair has agreed to pay $3.9 billion for Tribune ($43.50 per share), plus the assumption of $2.7 billion in debt. According to the Chicago Tribune, “The combined company will become a TV broadcasting behemoth, owning and operating 233 television stations in 108 markets, pending any required divestitures by the FCC.” Continue reading Sinclair Broadcast Group to Acquire Tribune Media Company

FCC Wireless Spectrum Auction Bidding Closes at $19.6 Billion

The FCC’s wireless spectrum auction has concluded, generating $19.6 billion in total bids, less than many analysts’ expectations but still “an amazing success,” according to former FCC chair Julius Genachowski, who said the auction will lead to additional investment and innovation. AT&T, Comcast, Dish Network, T-Mobile and Verizon were among the 62 bidders who made upfront payments last year. More than $10 billion of the money raised will go to broadcasters that opted to relinquish spectrum rights, more than $6 billion to the federal deficit, and up to $1.75 billion to broadcaster costs for changing channels. Continue reading FCC Wireless Spectrum Auction Bidding Closes at $19.6 Billion

Watchup for Personalized Newscasts is Now Free on Apple TV

With an app from startup Watchup, Apple TV users can now receive free customized newscasts from 160 news partners, including CNN, Fox News Channel, CBS News and Tribune Media, as well as local news covering 80 percent of U.S. markets. Users can select topics of interest and then further refine resulting newscasts by “liking” or “disliking” specific reports. The app supports fourth-generation Apple TV, launched last fall, as well as apps for iOS and Android, Amazon Fire TV, Microsoft Xbox 360 and Nintendo Wii U. Continue reading Watchup for Personalized Newscasts is Now Free on Apple TV

SeaChange International Picks Up Timeline Labs in $22M Deal

Multiscreen video software company SeaChange International has acquired TV social media toolmaker Timeline Labs for $22 million in cash and shares, with additional stock payouts possible based on performance. Timeline’s software collects content on social media that targets a specific region, and allows broadcast or online clients to quickly and easily curate and display the stories via a localized video service. Clients have used the service to develop content based on local sports, news and entertainment. Continue reading SeaChange International Picks Up Timeline Labs in $22M Deal