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Nexstar Media Group

All articles tagged with #nexstar media group

business-media1 year ago

"Nexstar Faces $1.2M FCC Fine and Potential Loss of WPIX-TV Control in New York"

The FCC has fined Nexstar Media Group $1.2 million and ordered the sale of WPIX-TV in New York due to the company's violation of federal limits on station ownership. Nexstar, which acquired control of The CW in 2022, could potentially lose control of WPIX-TV if it fails to comply with the ownership cap. The company has vowed to vigorously dispute the ruling, arguing that it has always complied with FCC regulations and that joint operating and local marketing agreements are crucial for maintaining a competitive media marketplace. FCC Chairwoman Jessica Rosenworcel emphasized the agency's responsibility to enforce ownership regulations, while Republican commissioner Brendan Carr expressed concerns about undermining reasonable reliance on prior FCC decisions.

via Deadline|
#business-media#fcc#new-york
business2 years ago

Disney Considers Strategic Options Amidst Interest from Byron Allen and Nexstar

Disney has denied reports of talks with Nexstar Media Group regarding a potential sale of ABC and its eight local ABC stations. However, Byron Allen has made a formal offer of $10 billion for ABC, Disney's local TV stations, FX, and the National Geographic Channel. The offer, which is pegged at eight times EBITDA, raises questions about the strategic implications of removing FX and Nat Geo from Disney's control. Nexstar Media Group and Allen Media Group are among the interested suitors for Disney's linear TV assets, which CEO Bob Iger previously stated "may not be core" to the company.

via Deadline|
#abc#business#byron-allen
business2 years ago

Disney in Talks with Nexstar for Potential ABC Sale - Sources

Walt Disney Co has reportedly engaged in preliminary discussions with regional TV station operator Nexstar Media Group regarding the potential sale of its U.S. TV network ABC. Disney's CEO had previously expressed openness to selling some of its traditional TV assets due to the challenges posed by streaming services. However, the talks are still in the early stages and may not result in a deal. Disney has not made a final decision on divesting ABC or any other property. Nexstar, which owns or partners with 200 stations in 116 markets, has not yet commented on the matter.

via Reuters|
#abc#business#disney
business2 years ago

Disney in Talks to Sell ABC to Nexstar Media: Report

Walt Disney Company has reportedly held discussions with Nexstar Media Group about selling ABC and other TV networks as part of Disney's efforts to offload its linear television assets. The talks are still in the preliminary phase, and no specific valuation has been provided. However, an acquisition could be complicated due to ABC's shared broadcasts with other Disney-owned networks. Nexstar is interested in the deal if it gets a favorable price. Disney CEO Bob Iger previously stated that the linear television business model is "definitely broken." This potential sale comes amid the ongoing shift towards streaming services and the decline of traditional linear TV.

via Forbes|
#abc#business#disney
television-programming2 years ago

The CW's Future: Beyond Superheroes and Teen Soaps

The CW is undergoing a major programming shift, moving away from superhero dramas and teen-centric soaps to focus on niche sports, unscripted series, procedural dramas, and broad-skewing comedies. The change comes after Texas-based Nexstar Media Group acquired a majority stake in The CW, bringing in new leadership. The network aims to reach a larger audience and appeal to older viewers while also targeting a younger crowd through on-demand streaming. The CW has a lineup of unscripted series in production, including "FBoy Island," and has acquired rights to sports content like LIV Golf and the NASCAR Xfinity Series. The network plans to revamp its digital operations and app to better compete in the streaming landscape.

via Variety|
#nexstar-media-group#programming-strategy#sports
business2 years ago

DirecTV Drops Nexstar-Owned Stations and NewsNation in Carriage Dispute

DirecTV has removed Nexstar Media Group's network and local community programming from its systems after failing to reach a new distribution agreement. Nexstar offered to extend the current agreement, but DirecTV rejected it. The removal affects markets in Los Angeles, Chicago, Philadelphia, San Francisco, Denver, and St. Louis. DirecTV claims that Nexstar demanded more than double the current viewer fees, leading to the loss of rights to offer network partners ABC, CBS, NBC, FOX, CW stations, and the cable news service NewsNation. Both companies are in discussions to resolve the issue.

via St. Louis Post-Dispatch|
#business#directv#distribution-agreement
business2 years ago

DirecTV Customers Lose Nexstar-Owned Stations in Carriage Dispute

More than 150 local TV stations owned by Nexstar Media Group have gone dark on DirecTV due to a carriage dispute, affecting approximately 10 million subscribers. The dispute arose after the companies failed to reach a new agreement, depriving viewers of popular programming on CW affiliates in major cities. Nexstar, the largest owner of local TV stations in the US, accused DirecTV of rejecting their offer to extend the current distribution agreement and claimed that they have been negotiating in good faith. DirecTV responded by accusing Nexstar of causing unnecessary programming outages to raise prices and stated their commitment to reaching an agreement while protecting customers from unwarranted price increases.

via Deadline|
#blackout#business#carriage-dispute
business2 years ago

DirecTV Drops Nexstar Channels in Carriage Dispute

DirecTV customers lost access to 159 Nexstar-owned stations, including major network affiliates, and the cable news network NewsNation, after the two companies failed to reach a new distribution contract. The blackout occurred after weeks of negotiations, with DirecTV proposing a contract extension that Nexstar declined. DirecTV then removed the channels from its satellite TV service and other offerings due to the lack of legal authorization. Channel blackouts have become more common as TV distributors try to control costs, while station owners seek fee increases. Both companies expressed hope for a quick resolution.

via Los Angeles Times|
#blackout#business#directv
business2 years ago

DirecTV Subscribers Lose Nexstar Stations in Carriage Dispute

More than 150 local TV stations owned by Nexstar Media Group, including KTLA in Los Angeles and WGN in Chicago, went dark on DirecTV's platform after the sides failed to reach a new retransmission consent agreement. The blackout affects at least 10 million subscribers across DirecTV's footprint. Nexstar offered to extend the current deal to Oct. 31, but DirecTV accused Nexstar of seeking unrealistic fee increases. The two companies are still in negotiations, and DirecTV has taken legal action against Nexstar, accusing it of using loopholes to bypass FCC ownership limits.

via Variety|
#blackout#business#directv
media2 years ago

Parent company of WOOD TV8 addresses internal memo.

Nexstar Media Group, the parent company of WOOD TV8, has released a statement apologizing for a leaked newsroom memo that discussed how the news team should handle reporting on Pride month events. The company stated that the communication was not consistent with their values and they will take appropriate action as necessary to address the situation. The news director and assistant news director responsible for the memo will no longer be involved in news coverage decisions regarding Pride month.

via WOODTV.com|
#lgbtq-community#media#newsroom-memo
business2 years ago

Nexstar acquires San Diego's KUSI TV station for $35M.

Nexstar Media Group is set to acquire KUSI, a longtime independent news station in San Diego, for $35 million. The purchase is expected to take place around the same time as Nexstar pursues a new CW affiliation for the area. KUSI may become a CW affiliate, although it's too soon to comment on programming. The deal is still subject to regulatory and other customary approvals, but it's expected to close later this year.

via The San Diego Union-Tribune|
#acquisition#business#kusi
business2 years ago

Nexstar Acquires San Diego TV Station KUSI for $35M

Nexstar Media Group has agreed to acquire KUSI-TV in San Diego for $35m from McKinnon Broadcasting Company. The purchase is expected to be accretive to Nexstar’s operating results when The CW Network affiliation becomes available in the market. The deal is a potential step toward creating an owned-and-operated CW station in the market. The transaction is expected to close later this year, pending FCC approval.

via Deadline|
#acquisition#business#kusi-tv
business2 years ago

Nexstar acquires KUSI San Diego for $35M

Nexstar Media Group is set to acquire KUSI San Diego from McKinnon Broadcasting for $35m, adding the independent television station to its portfolio, which already includes the market's Fox affiliate, KWSB. The acquisition will strengthen Nexstar's local television broadcasting, news, and digital media platforms in San Diego, while presenting numerous opportunities for operating efficiencies. The transaction is expected to close later this year and is expected to be accretive to Nexstar's operating results when The CW Network affiliation becomes available in the market.

via TV News Check|
#business#kusi-san-diego#local-news