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/
It kind of surprises me it was low, but not much … a couple of things to take into account:
1. They didn’t buy the real estate which is easily marketed at $20-30 million.
2. TV stations just aren’t worth what they used to be with all the competition around.
3. The price may not include some debts/expenses.
Desperate to sell much?
Remember, they bought Channel 4, but sold Channel 6. I guess the lousy signal does count for something, no matter how briefly that will be an issue.
Chuck, I can’t believe you said that. The Channel 6 tower in South Dade, the newest major broadcast tower in the state and the highest structure has a huge value for ‘auxiliary’ services, far more than the antenna at the ‘farm’. Remember, CBS had just invested 10s of millions on that new tower. It will also give WPLG a live receive point which live trucks can see from the far end of the 7-mile-bridge, freeing up a sat truck. The analog channel of the past would have no bearing on the value of the channel in the future, and the WTVJ digital signal is ON the WFOR (former WTVJ) tower. And while I’m at it, 6 never had a lousy signal, it had a lousy location to protect channel 6 in Orlando. The lousy signal myth was just that, a myth, and if you don’t believe it check with the FCC. If you’re going to spout off, come armed with a fact or 2.
As to MIAMIjr–#3 “may not include debts or expenses” I’ll bet that is true. Including the debt of talent contracts. I worked for a station that got sold and the new owners’ offer said: “We’ll take the station–just not the contracts.” Know what? That’s exactly what happened.
Cronkite Kid, you must work at 7. That was a fact. For what little time, the Homestead site does stink because it doesn’t reachmost of the South Florida Market. Heard of Channel 58? It’s part of the deal by the way. In the old days, when 6 was WCIX the indy station, they also retransmitted on 33, 61, 64, and 69 to attempt full coverage. Lousy coverage is a fact, and I do understand and made reference to the fact that after 02/17 it would be a moot point. So back off pal. The fact is that when NBC bought WTVJ it was on 4, and now it is on 6. The only other possible reason also involves the number 6–that a first or second ranked station is worth more than a sixth ranked station, which is what WTVJ is now.
How can anyone say it was a lousy signal? I clearly remember the switch from WTVJ4 to NBC6 and the signal got worse! The only time the signal was somewhat improved was during Dolphins games. Since most had cable they wouldn’t have noticed.
WTVJ sold for so cheap we all could have just got together and bought the station ourselves…..oh my stars!
I agree Thom, we could also put a Starbucks and a Subway in the lobby for extra revenue…oh my Lucky Charms!
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