Acquisition of WPRI-12’s Parent Co. Has New Twists & More Media News
GoLocalProv News Team
Acquisition of WPRI-12’s Parent Co. Has New Twists & More Media News
In October, GoLocal reported that the U.S. Department of Justice approved the $4.6 billion takeover by Nexstar Broadcasting of Media General. Media General is the owner of WPRI-12 and if the final FCC approval is granted, this will be WPRI’s third owner in less than two years.
For years, WPRI was the flagship station of LIN Media which was headquartered in Providence, but then two media mergers in a row have made WPRI-12 just another station among dozens of cities and media holdings.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe deal also faces a spectrum sale complexity.
Last week, the American Cable Association asked the FCC to block the request by Nexstar and Media General for a waiver of the FCC's Prohibited Communications Rule — the rule that so far has blocked FCC action on Nexstar's proposed purchase of Media General.
Media General has told Wall Street and regulators that it plans to participate in the auction, creating a complexity for regulators.
For WPRI, their importance may decline to its parent company. When it was owned by LIN Media, it was the flagship as the corporate headquarters were located in Providence, but two mergers later things may be more complex. Nexstar claims that after the merger they will hold 171 television stations in 100 markets "reaching 38.9% of all U.S. TV Households.”
Media Changes in December, 2016
Magazine Decline
Consolidation at Hearst
Hearst is combining the beauty, fashion and entertainment departments of five of its women's print magazines -- Cosmopolitan, Seventeen, Redbook, Woman's Day and Good Housekeeping -- in January, 2017.
It has not been reported what the staff reduction will be.
Part 2
Style Magazine is Dropping Print
Self Magazine is going all-in on digital. The woman’s publication says its February issue will be its last regular print production, with the exception of occasional special issues based on health and wellness topics.
Condé Nast’s Self, which also focuses on fitness, currently publishes on a monthly basis. "The magazine had a total paid and verified circulation of nearly 1.5 million for the six months ended June 30, 2016," according to MediaPost
Mixed Numbers
New York Times Has Good and Bad News
The good news is the the New York Times continues to build its digital business and the pace is quickening.
The bad news is in the third quarter the NYT was down 19 percent year-over-year.
Can the growth of digital save arguably the most important newspaper in America?
According to Ken Doctor, NYT’s CEO Mark Thompson said the paper wants to grow from 1.6 million digital subscribers to 10 million in 2020. The past few months have seen a boon, but second quarter this year saw only 51,000 new subscribers.
A GoLocal look at the numbers finds that if the NYT wants to hit 10 million in three years it would need to add 700,000 new subscribers per quarter.
WPRO
John DePetro Out Sick?
On Tuesday night John DePetro posted on social media the following message to explain his recent absence:
To all of my listeners: Unfortunately, I have a health situation I am dealing with, which will keep me off the air for now. I will update you when I can.
