Archive for the 'WTVJ Sale' CategoryPage 2 of 2

NBC Lost Money on WTVJ Deal

TVNewsday points to an FCC filing seeking approval for the sale of WTVJ to Post-Newsweek, which shows that the station was sold for $205 million. Way below the estimated $350 million.

Last time WTVJ was sold it was to NBC in 1987 when the network acquired it for $270 million dollars cash.

update:
here’s the filing on the FCC website. Documents require PDF reader
There are some redacted parts. Mainly the employee matters, NBC affiliation

/hat tip Bill/

WTVJ Sale: Video of the announcement from WTVJ and WPLG

WTVJ’s Bob Mayer announcing it during South Florida Today along with a look back at WTVJ’s history

WPLG’s announcement

Former WTVJ Employee’s Take on WTVJ Sale

Chez Pazienza best known on the internets as the CNN producer fired for blogging without CNN’s permission has written a rather long and quite scathing commentary on who and what caused WTVJ to fail and the station’s sale to Post-Newsweek.

Chez is a South Florida native and worked in various capacities at WSVN, WPLG and WTVJ until 2000.

If you’ve read DeusExMalcontent you know when it comes to criticizing the media, or anything, he’s not holding back. Below some excerpts. You can read Into Thin Air yourself here

On the deal:

This is a business deal in every possible connotation, and with the harsh reality of that firmly in mind, the only logical and cost-effective move WPLG’s management has is to completely dismantle WTVJ’s newsroom and sell syndicated programming to advertisers in the space where the station’s newscasts once ran.

This makes the most sense. It’s what’s most likely to happen. And it’s fucking criminal.

On WTVJ’s demise

When I left WTVJ to move to Los Angeles in 2000, the entire organization was preparing to relocate to a new state-of-the-art facility that would put it leaps and bounds ahead of its competitors in terms of technology. The future didn’t just look bright for the station, which was consistently placing at or near the top of the ratings; it seemed as if the very best days of its storied tenure were ahead of it. What wound up happening, however, could literally be written up as a how-to manual for those curious about the most effective means of running a television operation right into the ground: Arrogance trumped execution; a seemingly incompetent general manager — a woman named Ardy Diercks — was hired and began making one inexplicable decision after another; true journalists were trampled underfoot or let go altogether while pretty faces were pampered; opportunities were squandered; morale plummeted in conjunction with falling ratings and the feeling that the station’s glory days were fading into the collective rearview mirror; as it so often does, failure bred failure. In the words of a fellow ex-employee of WTVJ — a former co-worker of mine — the station died years ago, it just took this long for someone to finally put it in the ground.

On WPLG GM David Boylan

On the front line anyway, Boylan is in charge of facilitating Post-Newsweek’s takeover of WTVJ. His official title is Vice President and General Manager of WPLG, which to all but the most inherently distrusting betrays nothing of the pitch black reality of who Dave Boylan is, what his responsibilities are, and the legacy of scorched earth that he’s left in his wake as he’s honed his reputation for being one of the most admirably skilled corporate hatchet men in the business of local TV. Boylan represents, quite frankly, everything that’s wrong with, and utterly deplorable about, today’s television industry — all wrapped up in one slick, discomforting package. If you could figure out a way to slap a threateningly charming Cheshire grin on a locust — or any creature which travels from place to place, consuming every resource the locals hold dear, then moving on — you’d have Boylan. What’s worse, he and those who think like him stand as the unavoidable future of market-level media.

WTVJ Sale: Possible Thanks to Strong Spanish Stations

Miami Herald TV critic says WTVJ’s sale is all but approved by the FCC because of the dominant Spanish stations in our market.

Nothing really new if you read this blog and especially the comments where someone already pointed out WTVJ ranks 6th overall behind WLTV and even behind its roomate WSCV Telemundo 51.

The article quotes even anti-corporate groups which seem to believe the sale is all but approved.

Of course the FCC could always say that WTVJ is 4th among English language stations and nix the sale but something tells me that isn’t likely even though they tried acting like they’re doing their job with the localism rules proposal to force stations to locate their studios within their city of license

Post Newsweek Buys WTVJ

WTVJ has been sold to Post-Newsweek/WPLG.

Update 12:01pm: Channel 10’s top story at noon. Showing the stations Post-Newsweek owns, statement from the president and WPLG General Manager Dave Boylan

Update 1:56pm: John Wallace, NBCU president sent this memo to WTVJ staffers

From: Wallace, John

Sent: Friday, July 18, 2008 10:00 AM

Subject: ANNOUNCEMENT

Today we announced that NBC Universal has signed an agreement with the Post-Newsweek Stations to purchase WTVJ.

Post -Newsweek is a respected broadcasting company that currently owns
six local television stations, two of which are already NBC affiliates.
They are seasoned broadcasters, who have a solid reputation in the
industry and a long-standing commitment to meeting the needs of the
South Florida community. We look forward to working with Post-Newsweek
as affiliate owners for many years to come.

Now that this announcement has been made, we wanted you to be aware of
the next steps in this process. The deal is subject to regulatory
approvals, but at this time we don’t anticipate any issues that would
affect the closing. We expect the deal to close by the end of the year.

As we mentioned during our visit in March, GE Benefits experts will be
coming to the station at some point before the close to help explain
how the sale will affect your current GE benefits. We will update you
with dates for those visits as soon as we can.

Once again, we thank you for your continued hard work and dedication
throughout this process. We will do everything we can to make this
transition as smooth as possible and will provide additional
information as it becomes available.

Oneline coverage notes:

Bob Mayer’s article on NBC6.net noting WTVJ’s acomplishments in the last 59 years. It feels like an obituary to me, we’ll soon probably know that it is.

NBC6.net article on the Post-Newsweek deal

Local10.com notes ‘South Florida’s Television Landscape Set to Change’ and points to Clear Channel’s disastrous multi-station ownership (14 in South Florida) as an example of duopoly

CBS4.com notes the WTVJ sales and that Florida’s first TV station will remain an NBC affiliate, rehashes everything said before and interestingly lists WTVJ’s acomplishments

Herald: Post-Newsweek May Buy WTVJ

Joan Fleischman says Post-Newsweek is about to announce the purchase of WTVJ from NBC.

Just in time, as I previously blogged announcement will be made by mid-July and so here it is.

The FCC still has to approve the deal. Both parties will have to file jointly and then there will be a period where anyone can object to the merger.

If the deal goes trough WTVJ will move to Pembroke Park next year after WPLG finishes their new building and moves in around March or April.

No indication yet if WTVJ will have a news division or not.

Who Bid on WTVJ?

From the previous post about the imminent announcement of a WTVJ buyer someone left this comment:

Companies that are out:
Sunbeam (bid was too low)
Gannett (WTVJ GM said the buyer will be a company she never worked for before, so they are out)
Media General (financial trouble)
Hearst-Argyle (Company has no CEO & no money)
FOX (Pulled out)
Disney-ABC (not buying anymore TV stations)

The split is still an option. While Sunbeam couldn’t afford to buy WTVJ, Post-Newsweek still could. Other possible contenders include COX and Tribune.

Jodie:

It needs to be Belo or Cox, for the sake of WTVJ, its employees and it legacy.

Several other visitors have echoed the sentiment that Cox and Belo would be the best thing to happen to WTVJ.

I’ve read a few things about Belo and it looked to me like they run their stations well. KHOU (Houston), WFAA (Dallas) and KING (Seattle) are at the top of the ratings and come off as pretty serious, newsy, stations. If they were to buy NBC6 it would be interesting to see if their approach works in the Miami/Ft. Lauderdale market

update 7/2: someone sent this Broadcasting & Cable blog post from May 28th which says Hearst-Argyle and some private equity companies were looking at WVIT in Hartford, CT which NBC put out for sale in March along with WTVJ.

WTVJ Sale: Announcement Soon

I’m told NBC6 staff have been sharing in conversations with people that they expect to know the outcome of the WTVJ sale by mid-July.

I’m thinking that one of three things will happen:
a) WTVJ is split - someone (Sunbeam?) buys the building; another company buys the station
b) The buyer is one of those investment companies. If they’re buying stations in Podunk, America why not get one of the big sharks in Florida?
c) WTVJ gets acquired by one of the bigger media companies like Media General, Belo etc., although I’d think a or b would be more likely considering how bad Media General, Gannett and the others are doing on Wall Street lately. Unless, one of them decides to pull one of those look at us and our confidence in the product type thing.

Sticking up for WTVJ

Dude passionate about WTVJ brings his message to NBC HQ (or is he turned toward Faux News?) in New York City.

NBC Smart to Dump WTVJ and Keep WSCV

The truth is that NBC, which owns Telemundo, is making a brilliant move. It recognizes where the growth is, and isn’t.

Jose Cancela, a hispanic media executive, says NBC is smart for selling WTVJ while keeping WSCV because English-language networks have seen their “viewers disappearing faster than rabbits in a Vegas magic act” while Spanish-language media is gaining not only viewers but also advertiser dollars.

Did NBC Sink WTVJ?

Sun Sentinel TV critic Tom Jicha did a rather scathing, and very true, analysis of NBC’s decision to get rid of WTVJ.

In it Jicha says after NBC bought WTVJ in 1987 they’ve mismanaged it at the local and national level over the years and made it an almost irrelevant station. He assails the network’s decision to give up WTVJ’s original Channel 4 position for a lesser quality signal.

Jicha also criticized NBC’s network and station brass cost cutting decision to take Tony Segretto out of most newscasts and let Jackie Nespral to lead the news by herself.

He also notes WSVN continually beating the Today show locally and calls NBC a “try anything that’s cheap and appeals to the lowest common denominator” network for filling their schedule with trashy reality games and shows.

Read his take - NBC sinks Channel 6, then tries to sell it

Slightly used tv station for sale


“Slightly used TV station for sale. Please contact GE corporate offices in NY for info”
Craigslist isn’t only for selling your junk. Or is this clever poster’s definition of junk …

the Craigslist ad WTVJ NBC6

Poll on WTVJ sale

What will happen with the WTVJ sale?
View Results

WTVJ For Sale

update: NBC Universal will be keeping WSCV Telemundo 51 in the fold but sell WTVJ NBC 6.

just announced NBC Universal has put WTVJ for sale!

the memo that went out little over an hour ago from John Wallace head of NBC owned stations

From: Wallace, John (NBC Universal) Sent: Wednesday, March 19, 2008 2:15 PM
To: @NBC Uni TVS All Users
Subject: ANNOUNCEMENT

As you know, our business is going through a period of tremendous change. We’re in the process of re-engineering the way we think, shifting our focus from a traditional stations business to becoming full-service local media production centers. We started that transformation in November by changing our name to NBC Local Media, sending a signal to the marketplace about our new direction. We’ve also made two major investments, acquiring LX.TV and Skycastle Entertainment, and significantly increased the resources behind NBC Everywhere, our digital Out of Home operation.These growth investments are an important part of ensuring our long-term viability. They also need to be self-funded. As a result, we’ve taken a hard look at our portfolio and made some difficult decisions about what’s best for our business going forward. To that end, we are putting two of our NBC stations, WTVJ in Miami and WVIT

BroadcastingCable - NBC Puts Two Stations on Block
MediaBistro TVNewser - NBCU Puts Two Stations Up for sale
CBS4.com - NBC Puts Historic Miami Station Up For Sale
MiamiHerald - NBC puts South Florida’s WTVJ up for sale