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Posts Tagged ‘John Wallace’

WaPo Subsidiary Buys Miami’s NBC Station

NBC6_7.17.jpgNBC has sold its south Florida station, WTVJ to Post-Newsweek Stations, a subsidiary of the Washington Post Company. NBC bought WTVJ in 1987 for a reported $270 million. NBC was expected to fetch between $350 million and $400 million this time around. This will give Post-Newsweek two network-affiliated stations in the Miami-Ft. Lauderdale market, #1 rated WPLG (ABC) and #6 rated WTVJ (NBC), which should help the deal pass FCC muster.

“We are pleased to be able to reach an agreement to purchase such a historic station as WTVJ, the first TV station to broadcast in Florida. We look forward to both WPLG and WTVJ continuing to serve the South Florida community, said Post–Newsweek Stations CEO Alan Frank.

“Post-Newsweek has been a strong affiliate partner of ours for many years,” said NBC Local Media president John Wallace. “We look forward to working with Post-Newsweek as an affiliate owner for many years to come.”

NBC put WTVJ, and its Connecticut station WVIT, up for sale four months ago. Network anchors Katie Couric, Larry King, Rick Sanchez as well as Access Hollywood’s Nancy O’Dell and the late NBC News anchor David Bloom are all WTVJ alum.

> More from Newsblues

> Update: TVNewser has obtained John Wallace’s memo to WTVJ staffers: “We expect the deal to close by the end of the year.” Click continued to read it…

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Former NBC Page To Head Stations Division

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John Wallace, a 19-year NBC veteran, is being tapped to take over the NBC Universal TV stations division. Wallace began his career as an NBC Page and will immediately oversee the 10 NBC owned-and-operated stations.

From NBCU CEO Jeff Zucker: “John is a smart, energetic executive who knows how to plan, execute, and lead a team.” Insiders thought either CNBC President Mark Hoffman or Larry Wert, President of NBC’s WMAQ, were in line for the job…