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Stock Market & Financial Investment News

News Breaks
March 17, 2014
06:03 EDTGTN, LIN, NXST, SBGIBroadcast TV sector downgraded to Market Weight at Wells Fargo
Wells Fargo downgraded the Broadcast TV sector to Market Weight from Overweight and cut Gray Television (GTN), LIN Media (LIN), Nexstar (NXST) and Sinclair Broadcast (SBGI) to Market Perform from Outperform. Wells expects future and pending mergers and acquisitions to be on hold due to a more negative regulatory environment, which it expects to limit share upside.
News For GTN;LIN;NXST;SBGI From The Last 14 Days
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August 28, 2014
08:49 EDTLINLIN Media deal removes overhang on Media General, says Wells Fargo
After LIN Media (LIN) and CBS (CBS) signed a long-term affiliation agreement involving ten stations, Wells Fargo thinks the deal removes "a pretty significant overhang" on Media General's (MEG) stock, since most of Media General's affiliation deals with CBS expire in 2015, according to the firm. Wells thinks that Media General will announce a deal shortly.
08:32 EDTLINLIN Media overhang should be removed by deal, says Wells Fargo
After LIN Media (LIN) and CBS (CBS) signed a long-term affiliation agreement involving ten stations, Wells Fargo thinks the deal removes "a pretty significant overhang" on LIN's stock, since most of its affiliation deals with CBS expire on January 1, 2015, according to the firm.
07:32 EDTLINCBS, LIN Media sign deal to renew station affiliation agreements
CBS (CBS) announced a deal with LIN Media (LIN) to renew existing station affiliation agreements for 12 LIN stations in ten markets nationwide.
07:30 EDTLINLIN Media, CBS renew network affiliation agreements in 10 markets
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August 26, 2014
09:50 EDTLINOn The Fly: Analyst Downgrade Summary
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06:06 EDTLINLIN Media downgraded to Equal-Weight from Overweight at Evercore
August 25, 2014
14:51 EDTGTNGray Television renews all Fox affiliation agreements
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10:44 EDTGTNGray Television renewal with CBS removes overhang, says Wells Fargo
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08:31 EDTGTNCBS, Gray Television sign affiliation deal
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August 21, 2014
09:04 EDTSBGISinclair Broadcast announces launch of original programming division
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06:20 EDTLINCBS seeking bigger share of pay-television revenue from affiliates, WSJ reports
CBS last week stripped an Indianapolis station of its affiliation due to a fee disagreement as it seeks a bigger share of pay-television revenue, reports the Wall Street Journal. The Indianapolis station's owner LIN Media (LIN) was set to be acquired by Media General (MEG) for $1.6B this year, but Media General cut its acquisition price Wednesday by 7%, or more than $100M, with the move from CBS cited as one of the reasons. According to Gabelli & Co., the lack of a CBS affiliation may cost the statio tens of millions of dollars in annual revenue to decline. Reference Link
August 20, 2014
11:22 EDTLIN, SBGISinclair Broadcast agrees to swap TV stations with Media General
Sinclair Broadcast Group (SBGI ) announced that it has entered into a definitive agreement to purchase the broadcast assets of one television station in Providence, RI owned by Media General (MEG), two television stations in Green Bay, WI owned by LIN Media (LIN) and one television station in Savannah, GA owned by WTGS Television and operated by LIN through a shared services arrangement. The three markets represent 1.2% of U.S. television households. Simultaneously, Sinclair will sell Media General the broadcast assets of three stations in two markets upon the completion of the LIN/Media General merger. The company's previously announced sale of WHTM in Harrisburg is expected to close in September. The combination of all stations being sold to Media General represents 1.9% of U.S. television households.In addition and as part of the transactions, Sinclair will pay a net cash price of $31M for an additional $3.4M of cash flow being swapped. In addition, the company expects to generate an additional approximately $2M of synergies on the acquired stations.
11:17 EDTLINMedia General, LIN Media announce agreements to divest TV stations in 5 markets
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09:19 EDTLINMedia General and LIN Media to host joint conference call
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08:46 EDTLINMedia General, LIN Media announce amendment to merger agreement
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