Friday, June 06, 2014

Nexstar Unloads Shreveport Station

Nexstar Broadcasting announced today it is selling its Shreveport Fox station KMSS/Channel 33. TV Spy reports Marshall Broadcasting Group will buy KMSS along with 2 other Nexstar stations in Odessa-Midland, Texas and Quad Cities, Iowa for $58.5 million. 

 Marshall Broadcasting Group, Inc. is a newly formed minority owned media entity owned 100% by Pluria Marshall Jr. Marshall is currently the president and chief executive officer of Equal Access Media Inc., which owns several newspapers serving African-American and minority communities, including The Texas Freeman and Houston Informer Newspapers, The Los Angeles Wave Newspaper Group, and the Los Angeles Independent Publications Group. In 2011, Mr. Marshall founded Integrated Multicultural Media Solutions, a media rep firm that assists advertisers and agencies in marketing products and services to multicultural audiences by providing marketing services, including promotions, grassroots marketing, advertising placement and custom content creation.

Nexstar purchased KMSS from CCA Stations in April 2013

25 Comments:

At 11:04 PM, June 07, 2014, Anonymous Anonymous said...

Nexstar's wanted KMSS for 14 years and now they're unloading it? Interesting.

 
At 1:27 PM, June 08, 2014, Anonymous Anonymous said...

Not really 11:04pm. The FCC's recent ruling against JSA's through a monkey-wrench in this AND given that Nexstar had to unload a station in another market in order to buy KMSS sort of put the brakes on the deal to begin with.

The Marshall deal skirts around the current FCC regs as I've been told.

 
At 1:28 PM, June 08, 2014, Anonymous Anonymous said...

correction: change "through" to "threw"...

 
At 10:16 AM, June 09, 2014, Anonymous Anonymous said...

Now, will KSHV be involved in this deal too?

 
At 11:48 AM, June 09, 2014, Anonymous Anonymous said...

FROM NEWSBLUES: The newly invigorated FCC stepped in and threatened to swat the deals down, Nexstar got creative and recruited black media entrepreneur Pluria Marshall Jr. as a "black beard."

When the FCC clamped down on joint sales agreements, it also added language designed to encourage diversity in media ownership. Nexstar is expected to apply for a waiver, taking advantage of the FCC's diversity loophole.

Pluria Marshall Jr. will front the three stations in name only, and Nexstar will finance the $58.5 million sale with its own money.

And, lo and behold, the FCC will nearly double the tiny number of full-powered African American-owned commercial television stations. Praise the Lord, it's a miracle!!!

 
At 10:47 PM, June 09, 2014, Anonymous Anonymous said...

sounds like a shell game if you ask me. Razza-ma-tazz...PRESTO! Nexstar skirts around the FCC regs once again!! What a country!!

 
At 6:41 AM, June 11, 2014, Anonymous Anonymous said...

Congratulations on being unloaded by Nexstar!

 
At 7:46 PM, June 11, 2014, Anonymous Anonymous said...

6:41AM -- You're missing the whole point of this. Nexstar isn't unloading the station..they are getting an absentee minority owner to get the FCC to grant the sale. Then Nexstar is basically going to manage the station for a 30% cut of profits. All other departments like engineering, production, news, etc. will be handled by Marshall Broadcasting.

The cost of operations, maintenance, equipment, insurance, etc. is going to be paid out of Marshall's pocket of the 70% revenue. In other words: Nexstar comes out ahead because they don't have to pay for operating expenses...just sales staff. AND...on top of that, Nexstar's guaranteeing the loan of $58 million so that means they will be underwriting or "co-signer" of the note. They get a piece of the interest on the loan I betcha.

Connect the dots here folks... nothing is really changing. This is Nexstar coming up with a way around the FCC ownership rules.
Like someone said earlier, Pluria Marshall, Jr. is Nexstar's "blackbeard" ...that's code for minority owner on paper only.

 
At 6:33 AM, June 12, 2014, Anonymous Anonymous said...

Of the FCC is going to unfairly grant minority ownership, Nexstar has every right to exploit that unfair practice.

 
At 11:55 AM, June 12, 2014, Anonymous Anonymous said...

It shows how bureaucracies work. They take one-step forward by one measure only to leave loopholes to wind up having things go back to essentially where they were. Hard to imagine that when the great regulatory minds at the FCC came up with a ruling against JSA's...that they didn't stop to think of how there rulings could get "worked around".
The more things change, the more the stay the same. Nothing has changed really. With Nexstar guaranteeing the loan, imagine a scenario in two or three years where they can "call-the-note" and take 100% ownership of the station from Marshall BG failing to meet terms or going "bankrupt". It's the same thing as what happened with Southwest Multimedia owned the KMSS in the early 90's. They went bankrupt and "White Knight" which was really the management at KMSS at the time formed a corporation, got with the creditors and made a deal with the courts to take the notes, current terms and pay the note.
That was a "end-run" if ever there was one. The same thing will happen here after FCC pressure lets up. Make book on it.
Nothing has changed but a paper shuffle is all. Legal yes... ethical? Hmmmmmm.

 
At 12:24 PM, June 13, 2014, Anonymous Anonymous said...

The whole idea that somehow more minority owners are automatically a good thing is a stupid one that Nexstar is smart for exploiting.

 
At 6:46 PM, June 13, 2014, Anonymous Anonymous said...

So Nexstar will be the sole MSA for Marshall like they are for Mission, right? Love those loopholes.

 
At 1:08 AM, June 14, 2014, Anonymous Anonymous said...

Banks and insurance companies do this all the time. Walmart has ran out the small business owners and there are only a few phone companies left. Not defending anyone but I'm not sure why this is any different. Loopholes are common things with any business in the modern era.

 
At 12:31 AM, June 17, 2014, Anonymous Anonymous said...

From what I understood from sources closer to this, the Nexstar deal back in April never really went through the FCC hurdles. Their deal was hinged on having to sell another property in a different market because of ownership restrictions and they had a window to close the deal by Oct. 1st of this year. FCC still lists station as Comcorp licensee. This recent filing is an attempt to "manage" while being in the background as a loan guarantor.

 
At 11:40 PM, June 17, 2014, Anonymous Anonymous said...

Your source is correct. The original deal was contingent on finding a buyer for one of the stations in Evansville Indiana, where Nexstar/Mission already own the ABC and CW affiliates.

 
At 11:12 PM, June 20, 2014, Anonymous Anonymous said...

I'm still amazed that KMSS is still in business. I don't even know what their primetime programs are anymore. Everytime I stumble on the channel it's syndicated reruns.

 
At 10:11 PM, June 21, 2014, Anonymous Anonymous said...

Well, I guess that's one less station that KARK has to do programming for.

 
At 4:53 PM, July 03, 2014, Anonymous Anonymous said...

Isn't that the truth? With this ComCorp acquisition I wonder if Nexstar plans to overload KARK with even more former ComCorp stations, or do they plan to create another hud to run all these new stations in Louisiana and Texas.

 
At 4:44 PM, July 08, 2014, Blogger justcallmejoe247 said...

Hub services will more than likely be done through KETK in Tyler, at least for those stations that are east of I-35. Including a majority of the small market Louisiana stations.

 
At 4:46 PM, July 08, 2014, Anonymous Anonymous said...

More than likely, hub services will be done by KETK in Tyler, at least for those that are east of I-35--including small market Louisiana stations.

 
At 4:08 PM, July 09, 2014, Anonymous Anonymous said...

That sounds very probable. What about the ComCorp/White Knight owned NBC and Fox stations in Baton Rouge? That would give Nexstar another hub in a second state capital.

 
At 5:11 AM, July 11, 2014, Anonymous obat tradisional untuk kanker said...

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At 11:28 PM, July 12, 2014, Anonymous Anonymous said...

KMSS/KSHV gets Hub services out of Tyler.

 
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