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State of the Screens

Nexstar’s $6.4 Billion Tribune Buy Spurs More Dealmaking

By December 11, 2018No Comments

Big deal: Nexstar has agreed to purchase Tribune for $6B in the latest deal to further consolidate local broadcast station ownership.

$15B worth of local TV stations have changed hands since 2016.

Why this matters: Nexstar will become the largest broadcast group reaching close to 50% of U.S. homes with stations in 8 of the top 10 markets.

What Nexstar is adding:
1) 42
local TV stations
2) Cable networks WGN America and Food Network (31% stake)

WGN America reaches 77M U.S. homes through traditional pay-TV.

Watch: Online TV Streamer Locast Has an Ambitious Plan to Help Broadcasters

Flashback #1: Ad spending for the 2018 midterms reaches nearly $3 billion

Flashback #2: Even as Sinclair Aims to Be a Bigger Broadcaster, It’s Building a New Streaming Service Called Stirr

Flashback #3: “Thank God you’re not in newspapers”: Local TV is doing way better than you’d think, a new report suggests

Local TV station revenue normally follows a cyclical pattern based on the political cycle.

Station Revenue by year (TV only):
1) 2010 — $19.4B
2) 2011 — $17.9B
3) 2012 — $20.3B
4) 2013 — $18.4B
5) 2014 — $20.0B
6) 2015 — $18.5B
7) 2016 — $20.6B
8) 2017P — $19.8B
9) 2018P — $21.1B

More #1: National Brands Are Cashing In By Targeting On Local Level.

More #2: What the Nielsen Total Audience Report Expansion Means for Local TV

More #3: Big Brands, Regional Markets

Michael Beach

Michael Beach

Michael Beach is the Chief Executive Officer of Cross Screen Media, a media analytics and software company that enables marketers to plan, activate, and measure CTV and linear TV at the local level. Michael is also the founder and editor of State of the Screens, a weekly newsletter focused on video advertising that is a must-read for thought leaders in the advertising industry. He has appeared in such publications as PBS Frontline, The Wall Street Journal, The New York Times, Axios, CNBC and Bloomberg, and on NPR’s Planet Money podcast.