So much so, a rock is actually worth more than their stock. Sirius-XM’s shares tumbled to an all-time low of 5 cents per share on reports the satcaster is headed for Chapter 11 bankruptcy. Sirius-XM is in talks with Echostar, the owner of Dish Network about a buyout, since the company assumed some of Sirius-XM’s debt. It is also in […]
News & Notes: – The Chicago Cubs may start its own television network if the team is sold, according to an article in today’s Chicago Tribune. The model would be the New York Yankees successful YES network, and the Cubs are looking to maximize revenues. Current owner Tribune has a 25 percent in Comcast SportsNet, and the Cubs are contracted […]
WFRV, the former CBS-owned station in Green Bay, and sister station WJMN-TV in Escabana, Mich. have relaunched their websites under new owner Liberty Media via Inergize Media. The new sites provides better weather coverage (including a Weather Alert that powers nine separate Doppler radar images), as well as improved video, news, and other features. The websites are WFRV.com and WJMNTV.com.
CBS Corp. has sold its last remaining small-market station: It dealt WFRV-TV in Green Bay, Wis., and its satellite station WJMN-TV to Liberty Media Corp. for $170 million in cash and 7.6 million shares of CBS stock. This comes after CBS sold a bunch of medium-market stations to Ceberus Capital Management, including KUTV in Salt Lake City and KEYE in […]
CBS Corp. announced today it is selling seven of its owned and operated stations to equity-firm Cerberus Capital Management for $185 million dollars. The deal includes CBS affiliates in Austin TX, Salt Lake City (and its satellite station), CW affiliates in Providence and West Palm Beach, along with two low-power stations in the latter market. Surprisingly, CBS did not sell […]