Approximately 6 million television viewers in more than 20 markets, including West Michigan, have lost access to local news, sports and entertainment programming because of a contract dispute between two mega media groups.
GRAND RAPIDS — The proposed mega-merger between Chicago-based Tribune Media Co. and Texas-based Nexstar Media Group Inc. could mean changes ahead for West Michigan TV stations.
The acquisition this month of Gemini Corp.’s assets by a Southeast Michigan publisher comes amid a broader consolidation trend in the media industry.
The dissolution this week of a proposed mega-merger between two media giants means the local Fox affiliate will remain under its existing corporate ownership, at least for now.
Here is the MiBiz Growth Report for April 30, 2018.
• M&A: New York City-based Standard Media Group LLC, a new investor-backed media company, has entered into a definitive agreement with Sinclair Broadcast Group Inc. of Hunt Valley, Md. to acquire Grand Rapids-based Fox 17 WXMI and eight other stations around the country. The $441.7 million cash deal would create a new media company affiliated with Standard General LP, an SEC-registered investment adviser that manages capital for public and private pension plans, endowments, foundations, and high net worth individuals. The deal, which is subject to regulatory approval, is expected to close in conjunction with the Sinclair-Tribune transaction. As MiBiz previously reported, Sinclair is trying to appease government regulators in a bid to finalize its $3.9 billion acquisition of Chicago-based Tribune Media Co., which currently owns Fox 17.
A new investor-backed media company has signed a deal to acquire the West Michigan Fox television affiliate.
The path to regulatory approval for a mega-merger of two broadcast television conglomerates could result in the sale of one of their stations in Grand Rapids and Kalamazoo.
GRAND RAPIDS — The path to close a $3.9 billion transaction between two giants in the television broadcasting industry could run directly through West Michigan.
Here is the MiBiz Growth Report for May 15, 2017:
• M&A: Muskegon-based KL Outdoor LLC will add a bevvy of new products to its business through a recent merger with GSC Technologies Corp., a Montreal-based manufacturer of kayaks and other plastic products. About three months ago, KL Outdoor — a manufacturer of kayaks, paddleboards and other watercraft — was purchased by New Water Capital LP, a private equity firm based in Boca Raton, Fla. The private equity firm plans to wrap GSC Technologies under the KL Outdoor brand, according to Dan Harris, vice president of sales at KL Outdoor. Harris expects the merger to expand KL Outdoor’s product offerings, as GSC manufactures a variety of products including outdoor furniture, totes and other related products.