kctv logo, used november 2011 october 2015; logo on based first introduced in may 2002.
on may 23, 1994, new world communications signed long-term affiliation , financing agreement news corporation, in new world agreed switch network affiliations of 5 of 7 existing television stations , 8 additional stations company in process of acquiring through separate deals great american communications , argyle television holdings (the latter of sold 4 stations new world in purchase option-structured deal on may 26 $717 million) fox, in exchange allowing news corporation acquire 20% equity interest in group. stations involved in agreement – motivated december 18, 1993 announcement national football league (nfl) award rights national football conference television package fox effective 1994 season, ending nfc s 38-year relationship cbs – disaffiliate either of 3 major broadcast networks (cbs, abc , nbc) , join fox once individual affiliation contracts existing respective network partners expired. 1 of stations involved in deal nbc affiliate wdaf-tv, among 4 television stations great american communications sold new world – along cbs affiliate ksaz-tv in phoenix, , abc affiliates wbrc in birmingham , wghp in high point, north carolina – 2 weeks earlier on may 5 $350 million in cash , $10 million in share warrants.
with channel 4 s contract network set expire in 5 months, nbc approached other area stations replace wdaf-tv kansas city affiliate. first entered discussions kctv management becoming nbc affiliate. prospect of 1 of strongest affiliates being courted rival big 3 network concerned cbs; new world planned displace network stronger-performing vhf affiliates group had owned or in process of purchasing in 8 other markets fox, situation in cases force cbs affiliate either former fox affiliate or lower-profile independent station. many of nbc- , abc-affiliated stations , – exception of dallas-fort worth , phoenix – higher-rated independents approached deals rejected cbs offers move programming stations loss of nfl rights hampered choices of replacement affiliates, exacerbating existing problem of having program slate skewed towards older audience other major broadcast networks aided in cbs ratings slide third place nationally.
to prevent such situation happening in kansas city, cbs negotiated deal meredith executives conditional on agreeing keep cbs affiliation on channel 5, in company agree switch wnem-tv , kpho-tv network. meredith , cbs reach agreement on proposal on june 29, 1994. cbs staving off affiliate defection in new world market, nbc s choices finding affiliate replace wdaf narrowed further. kmbc-tv in middle of long-term affiliation agreement between abc , station s owner, hearst broadcasting, leaving nbc s viable option being soon-to-be-former fox station kshb-tv (channel 41), – through owner, scripps-howard broadcasting – agreed affiliate network on august 1, 1994.
on november 12, 2004, meredith purchased wb affiliate ksmo-tv (channel 62, mynetworktv affiliate) hunt valley, maryland-based sinclair broadcast group $33.5 million ($26.8 million non-license assets , $6.7 million license itself). under terms of deal, meredith assumed responsibility ksmo s advertising sales , administrative operations under joint sales agreement continued until sale s closure. when deal finalized on september 29, 2005 through permission of failing station waiver, kctv , ksmo became third television station duopoly in kansas city market (after kmbc , kcwe (channel 29), latter of hearst purchased kcwe outright in 2001 continued operate under local marketing agreement through indirect subsidiary of company 9 years after company, , kshb-tv , kmci-tv (channel 38), latter of scripps had purchased miller television in 2002). ksmo subsequently migrated operations original studio facility in kansas city, kansas, kctv s fairway studios following transaction s completion.
on september 8, 2015, richmond, virginia-based media general announced acquire meredith corporation $2.4 billion, intention name combined group meredith media general once sale finalized. sale have marked first change in ownership station since purchased meredith in 1953 , have put kctv , ksmo-tv under common ownership media general s existing virtual triopoly in adjacent topeka market between nbc affiliate ksnt, fox affiliate ktmj-cd , abc affiliate ktka-tv. however, on september 28, irving, texas-based nexstar broadcasting group (now-former owner of abc affiliate kqtv (channel 2) in st. joseph) made unsolicited cash-and-stock merger offer media general, valued @ $14.50 per share.
on november 16, following opposition merger meredith minority shareholders oppenheimer holdings , starboard capital – because meredith s magazine properties included in deal, have re-entered media general publishing after sold newspapers bh media in 2012 reduce debt – , rejection of nexstar s initial offer company management, media general agreed enter negotiations nexstar on suitable counter deal, while meredith merger proposal remained active; 2 concluded negotiations on january 6, 2016, reaching merger agreement valued @ $17.14 per share (an evaluation of $4.6 billion, plus assumption of $2.3 billion in debt). on january 27, meredith formally broke off proposed merger media general , accepted termination fee of $60 million negotiated under original merger proposal; media general subsequently signed agreement acquired nexstar (with combined company known nexstar media group), in exchange giving meredith right of first refusal acquire broadcast or digital properties may divested.
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