After-Auction Sales Action Likely For TV
By Adam R Jacobson
RBR + TVBR
It’s been a very quiet eight months for Larry Patrick (pictured), the founder and managing partner of Patrick Communications, as a broker active in the television industry.
Aside from Nexstar’s acquisition of Media General, the tumbleweeds have been building on the Transactions Turnpike.
“Everyone else, because of the [TV spectrum] auction, has been quiet,” Patrick says. “There are very, very few TV sales—and almost no transactions this year.”
That should change in a big way come May 2017, he predicts.
Editor’s Note: This story was updated at 6am ET on August 29 to correct information incorrectly stating that the Nexstar-Media General deal was “forced” by the U.S. Government. Rather, the government did require the divestiture of a small number of stations as a condition of this proposed merger. These were in markets where Nexstar and Media General were competitors, and Gray, Heartland and DuJuan McCoy were the buyers. The overall deal has not yet been approved.