Thursday, May 10, 2007

KFSM: The Deal is Done

Source: Fort Smith Times Record Fort Wright, Ky.-based Local TV LLC paid $575 million on Monday to the New York Times Co. to buy KFSM Channel 5, and eight other stations.

KFSM is the CBS affiliate that operates in the Fort Smith and Northwest Arkansas television market.

Local TV is an entity created by Stamford, Conn.-based Oak Hill Capital Partners that announced a sale agreement with the New York Times Co. in January.

Pam Taylor, Local TV chief financial officer, said the New York Times had a large corporate staff managing its television properties. Local TV’s management team will be leaner and grant its stations more autonomy, Taylor said.

That doesn’t mean an absence of change, though.

“The additional focus will be on local sales, growing the local advertising pie as opposed to national ad and agency ad buys,” she said.

No plans exist to consolidate sales offices or centralize operations.

“The changes we enacted immediately are the only changes we anticipate,” KFSM general manager Van Comer said. “We did do some restructuring. We eliminated some positions. Now, we anticipate moving forward with Local TV LLC. We continue to be the local news leader. That is our core product, and that’s not going to change. In fact, we expect to add staff.”

Comer too will be staying on.

“Just for the record, I am still employed,” he said. “I read online where I was let go. It was one of those blogs online that someone was kind enough to send to me.”

24 Comments:

At 10:39 PM, May 10, 2007, Anonymous Anonymous said...

This still has to be approved by the FCC but the new owners take over now as management of the station. Mre changes to come but hopefully at the top and not more daily grind employees.

 
At 10:51 PM, May 10, 2007, Anonymous Anonymous said...

It's weird to see a quote from the big dog himself about the eliminated positions.

I thought it was said weeks ago that people wouldn't lost their jobs with this.

 
At 10:56 PM, May 10, 2007, Anonymous Anonymous said...

It was also said that they people sayingthat didn't know what they were talking about and that's what the new company always says. Now let's look at history of a takeover. What happens next?

 
At 10:59 PM, May 10, 2007, Anonymous Anonymous said...

Here's a question. If the GM is so smart and agrees that they needed to pull plug on 5 Outdoors then why hadn't he already did that before the ownership change?

 
At 11:03 PM, May 10, 2007, Anonymous Anonymous said...

It's called trying to save your job.

 
At 4:19 AM, May 11, 2007, Anonymous Anonymous said...

I just want to say I think Channel 5 is the best TV station we got in our market.Their always try to help in the community.Their support everything from the Special Olympics and United Way to going to Kansas and helping the tornado victims recover.I watch channel 5 because their care about our communities.

 
At 6:22 AM, May 11, 2007, Anonymous Anonymous said...

Nothing like another left-wing news outlet in our state that is owned by a company "up there."

 
At 6:51 AM, May 11, 2007, Anonymous Anonymous said...

Channel 5 doesnt care more about the community than anyone else. They do what they do for ratings plain and simple. May is ratings so if anything channel 5 is taking advantage of the tornado to help its sagging ratings. The sad thing is their fake help works a lot of time, mainly on older viewers across the area.

 
At 7:35 AM, May 11, 2007, Anonymous Anonymous said...

I wouldn't go that far but I would agree that all the stations do as much for the area as 5 does. Radio and newspaper does too. That use to be the main focus for media but now it's about profits first. However, before we start slamming the different media outlets let's just remember that the whole world works like that now.

 
At 9:01 AM, May 11, 2007, Anonymous Anonymous said...

Radio, TV, and plenty of other organizations do what they do for selfish reasons. The companies use the charity and goodwill to increase business and ratings. Not for the people they are "trying" to help. Take away the tax deduction for charitable donations and you will see all the donations dry up completely. And the best part? The people in companies who decide that "We" need to help the community, are never the ones out doing the work. They send the men and women already overworked and underpaid out to do the work for free. Then the station/company takes the credit for how much it cares for the community. Wouldn't it be nice for someone to be honest just once....."This weekend KAAA will be live downtown for the charity walk because we want our viewers and advertisers to think we care about the community....even it we don't!"

 
At 11:02 AM, May 11, 2007, Anonymous Anonymous said...

Sadly, many of you are mistaken.

I work in the media, I live here, & it's my home. If I can use whatever influence I have to better my community and my neighbors, I'll do it.

Sure, ratings & money drive television stations. Without either one, there's no 'station'. But I would guess most people in television news, sports & weather want to make a positive impact on the people we serve.

You "nay-sayers" either:
a) Aren't from around here
b) Are just unhappy people

 
At 9:10 PM, May 11, 2007, Anonymous Anonymous said...

Please don't FALL off your high horse.

 
At 10:27 AM, May 12, 2007, Anonymous Anonymous said...

Sure, ratings & money drive television stations. Without either one, there's no 'station'. But I would guess most people in television news, sports & weather want to make a positive impact on the people we serve.

Then you should hire Craig O'neil if you want ratings.

 
At 10:42 AM, May 12, 2007, Anonymous Anonymous said...

Randy Michaels, CEO, is a broadcaster at heart. He's an astute, confident businessman. KFSM will do well, more fully capitalizing on its opportunities.

 
At 12:43 PM, May 12, 2007, Anonymous Anonymous said...

It's called sales first and then news.

 
At 10:35 PM, May 12, 2007, Anonymous Anonymous said...

Daren Bobb is that you???

Anonymous said...

Sadly, many of you are mistaken.

I work in the media, I live here, & it's my home. If I can use whatever influence I have to better my community and my neighbors, I'll do it.

Sure, ratings & money drive television stations. Without either one, there's no 'station'. But I would guess most people in television news, sports & weather want to make a positive impact on the people we serve.

You "nay-sayers" either:
a) Aren't from around here
b) Are just unhappy people

11:02 AM, May 11, 2007

 
At 10:51 PM, May 12, 2007, Anonymous Anonymous said...

>>Randy Michaels, CEO, is a broadcaster at heart. He's an astute, confident businessman. KFSM will do well, more fully capitalizing on its opportunities.<<

Uh huh. A quick Google search says it all.

 
At 11:48 AM, May 13, 2007, Anonymous Anonymous said...

Maybe so but he's not running the station.

 
At 6:07 PM, May 13, 2007, Anonymous Anonymous said...

'Maybe so but he's not running the station.'---

Oh yea, that's right. He shells out 575M and he's not going to be calling shots for the stations?

Here's your complete idiots club membership card.

 
At 7:44 PM, May 13, 2007, Anonymous Anonymous said...

He's not there only a daily basis. Guess what idiot? The owners but don't policy and plans and then leave town. That's what local management gets blown up. They run it they way they want and then drive it in the ground and the owners shows up again. Guess what happens then? New local leadership. Owners don't run local stations. My card is a union card thank you.

 
At 9:23 PM, May 13, 2007, Anonymous Anonymous said...

What?

 
At 9:27 PM, May 13, 2007, Anonymous Anonymous said...

And I say, "WHAT?"

 
At 10:00 PM, May 13, 2007, Anonymous Anonymous said...

I'm still drunk from the last comment. Short version..local guys run the station by the plan that the owners give them. Owners leave town and the locals go back to their way. Owners come back and blow out the management. Better?

 
At 2:31 AM, May 28, 2007, Anonymous Anonymous said...

We do not need a yankee owning our local station. Outdoorsmen need to unite and start a drive to get 5 Outdoors back or try to get another station to start it's own show. Upper management always save their own asses when in most cases they are the cause of the cutbacks in the first place by poor management choices.

 

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