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Posts Tagged ‘Mission Broadcasting’

TWC and American Cable Association Ask FCC to Stop Mission’s Binghamton Station Buy

FCC_304Time Warner Cable and the American Cable Association are asking the FCC to deny Mission Broadcasting’s purchase of two Stainless Broadcasting stations in the Binghamton, NY, market.

In the petition, the two point out the deal, through sharing agreements with Mission, would essentially give Nexstar Broadcasting control of three of the four stations affiliated with major networks in that market.

As in similar petitions, the ACA is primarily looking to prevent station groups from gaining leverage when it comes to renegotiating retransmission deals and points a finger directly at Nexstar CEO Perry Sook for saying so, “Indeed, Nexstar’s CEO has acknowledged that a central rationale for the Mission-Stainless transaction is to use the leverage afforded by the combination of top-ranked stations in Binghamton to garner increased retransmission consent fees.” Read more

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Nexstar and Mission to Acquire Five Stations

Nexstar Broadcasting and Mission Broadcasting are acquiring five stations, three from Citadel Communications and two from Stainless Broadcasting, for $103.25 million. The transaction is expected to be approved in the first quarter of 2014.

Citadel Communications will sell WOI in Des Moines, KCAU in Sioux City and WHBF in Rock Island, Ill., to Nexstar for $88 million. Nexstar will begin operating the three stations immediately under a time brokerage agreement, according to Nexstar.

Mission Broadcasting will acquire two stations in Binghamton, N.Y. — Fox affiliate WICZ and MyNetworkTV affiliate WBPN — from Stainless Broadcasting for $15.25 million.

“The acquisition of the Des Moines and Sioux City stations marks Nexstar’s entrée into Iowa, an important state for political advertising activity, while the Rock Island station also reaches Iowa and will benefit from efficiencies related to Nexstar’s existing operations in Illinois where we now operate or provide services to six stations,” Nexstar chairman and CEO Perry A. Sook said in a statement.

With the acquisitions, Nexstar will own, operate or provide services to 96 stations in 51 markets, reaching 14.6 percent of all U.S. television households.

The official announcement from Nexstar is after the jump. Read more

Nexstar to Acquire CCA Stations For $270M

As expected, Nexstar Broadcasting and Mission Broadcasting have announced an agreement to acquire Communications Corporation of America’s station group. Nexstar and Mission will pay will pay $270 million for CCA’s 19 stations and seven associated digital subchannels in 10 markets.

Under the terms of the agreement, Nexstar will acquire 11 of the CCA stations and Mission will acquire eight. Nexstar and Mission will enter into shared service agreements, according to a statement. The transaction is pending FCC approval and expected to close in the fourth quarter of 2013.

“Nexstar is a premier TV broadcasting company that has grown in a disciplined fashion. We are pleased that the CCA stations will become part of Nexstar’s expanded footprint giving them the benefits of increased scale to build on the momentum we have created over the past several years,” CCA chairman Peter Markham said.

A full list of CCA’s stations are after the jump. Read more

Nexstar Acquires Stations in California, Vermont

Nexstar Broadcasting has entered into definitive agreements to acquire three California stations from Newport Television and two Vermont stations from Smith Media, LLC.

Nexstar will pay Newport $35.4 million for KGPE, the CBS affiliate in Fresno; KGET, the NBC-CW affiliate in Bakersfield; and KKEY, the low-powered Telemundo affiliate in Bakersfield. In Vermont, Nexstar will join with Mission Broadcasting to acquire WFFF and WVNY, the Fox and ABC affiliates in Burlington, for $17.1 million.

“These transactions are consistent with our criteria for acquisitions that further strategically diversify our operations, create or present opportunities for virtual duopoly markets and which are financially accretive,” Nexstar chairman Perry Sook said in a statement.

Leo Henning Appointed VP-GM of KOZL-KOLR

Nexstar Broadcasting has announced Leo Henning will be vice president and general manager of KOZL, an independent station in Springfield, MO, effective immediately. Henning will also oversee KOLR, Mission Broadcasting’s CBS-affiliate, which Nexstar operates under a joint operating agreement.

Henning comes from Saukview Media, where he is the president and CEO. Prior to that, he spent five years at Barrington Broadcasting, where he was group head of several stations, including WNWO in Toledo, KRCG in Columbia, WHOI in Peoria, KHQA in Hannibal, WLUC in Marquette and KTVO in Kirksland. Before joining Barrington, Henning spent 33 years at Quincy Newspapers’ Broadcast Group.

“With his local broadcasting expertise, strong client relationships, and dedication to the local communities he has served for many years in the Ozarks and Midwest, we are confident that Leo is the ideal person to lead KOZL’s television and e-media operations,” Nexstar COO Brian Jones said in a statement.

Nexstar to Acquire Newport Stations for $285M

Nexstar Broadcasting and Mission Broadcasting have announced plans to acquire 12 stations from Newport Television for $285.5 million.

In a statement, Nexstar said the acquisition “substantially broadens Nexstar’s local television broadcasting platform with stations that are geographically complementary to and diversify Nextar’s operating base.”

Nexstar will acquire 10 stations: KTVX and KUCW in Salt Lake City, WPTY and WLMT in Memphis, WYSR in Syracuse, WBGH and WIVT in Binghamton, NY, WETM in Elmira, NY, WJKT in Jackson, TN and WWTI in Watertown, NY. Mission Broadcasting will acquire KLRT and KASN in Little Rock.

Nexstar Agrees to Acquire WEHT, Swapping Fox for ABC in Evansville

Nexstar Broadcasting has announced  an agreement to buy WEHT, the Evansville, IN ABC affiliate, from Gilmore Broadcasting for $18.5 million.

Nexstar will finance the purchase by divesting assets of WTVW — the Nexstar-owned independent station in Evansville — to Mission Broadcasting, which is a company set up by Nexstar to operate duopolies in 13 other markets. This transaction will provide a local services agreement between Mission and Nexstar, allowing WTVW and WEHT to share services in Evansville.

The two agreements are a result of WTVW losing its Fox affiliation last month after a long battle with Nexstar over retransmission fees. Evansville is one of four markets — including Terre Haute and Fort Wayne, IN, and Springfield, MO — where Nexstar and Fox have parted ways.

The purchase of WEHT is pending FCC approval and is expected to close by the end of 2011.

David Smith, President and CEO of Mission Broadcasting, Dies of Massive Heart Attack

David Smith, president and CEO of Mission Broadcasting, passed away over the weekend.

Smith founded Mission Broadcasting in 1998 and the company currently owns 16 stations–based mostly in smaller markets in Pennsylvania, Missouri, and Texas–which are operated by Nexstar Broadcasting.

Smith suffered a massive heart attack while attending a friend’s wedding in Austin, TX, according to an email sent out to Mission and Nexstar stations by Perry Sook, Nexstar’s president and CEO.

“David was a friend, a partner in business and an innovative broadcaster,” Sook wrote in the email. “He will be missed by all of us who knew him.”

Ownership control of Mission will be handed to Smith’s wife Nancie, currently an officer and director of the station group, as well as his estate. According to Sook, COO Dennis Thatcher will continue to oversee day-to-day operations of Mission.