the HOT List

With the non-consummation of its $8.6 billion proposed acquisition of the broadcast TV station owner, the Soohyung Kim-led hedge fund had to pay a termination fee. That’s been completed.

As of August 1, there will be a new leader for Bonneville International Corporation, the radio station licensee and owner of KSL-5 in Salt Lake City. The change is being precipitated by the retirement of its President, Darrell Brown. He's still well-remembered by TV industry veterans for his many years at McGraw-Hill Broadcasting.

The U.S. House of Representatives has approved an all-important debt ceiling deal, and that led investors to buy stock on Thursday, sending U.S. financial markets upward. Did media companies benefit from the overall gains on Wall Street? Activity was mixed, as Veritone's $52 million purchase of Broadbean from CareerBuilder was not welcomed by shareholders.

How the FCC determines whether a television station from one market is "significantly viewed" in a distant community, vital to MVPD eligibility in a second market, is something Gray Television wants streamlined. And, it argues that Nielsen ratings should be dumped, with signal contours the lone determining factor for the Commission.

iHeartMedia CEO Bob Pittman and COO/CFO Rich Bressler have drafted a Team E-mail sent to company employees that addresses the potential AI tools such as ChatGPT can bring to the workplace. In short, iHeartMedia put the kibosh on such solutions, minus permission. And, the company's two top leaders alluded to their own AI tools in the coming months.

Paramount Global; FOX Corporation; and Cox Media Group have each come to terms with settlement agreements that will resolve advertising price-fixing claims against the three television stations brought forth by One Source Heating & Cooling, two Minnesota ad shops, and Cleveland-area retailer Fish Furniture. But, four ownership groups remain in litigation.

It is now known that the Regional President for the eastern region at TelevisaUnivision will be supporting the recently promoted Jesus Lara by taking on all revenue-generation responsibilities across the linear and digital properties serving U.S. Hispanics. This includes the company's radio and television properties and its digital offerings.

A 24-month collaborative effort "to explore and implement various ATSC 3.0/NextGen TV applications and use cases" has been forged between a U.S. non-commercial educational media entity and the Korea Radio Promotion Association that will help facilitate "the full adoption of ATSC 3.0" in public television stations across the U.S.

A $125 million preferred equity investment in the majority voting shareholder of CBS News & Stations parent Paramount Global has been made by a merchant bank "built to serve the distinct needs of family business owners and founders."

CEO Dave Lougee spoke of TEGNA's ongoing strength and low leverage levels, while CFO Victoria Harker offered a glimpse at the company's Q2 and full-year 2023 revenue expectations. It was the first time TEGNA held a quarterly earnings call since November 2021.

The President/CEO of The E.W. Scripps Co. on Thursday shared a letter to colleagues about the company's local news initiative. "I’m excited about the opportunity we have in front of us and hope you’ll be encouraged by our dedication to the mission," Adam Symson. In short, Scripps seeks nothing but the best, and is ready to invest millions in increased salaries while adding "about 250 on-the-ground resources to our local reporting teams."

Diane Kniowski, the President of U.S. Local Media for TelevisaUnivision, has retired. As such, the multimedia company targeting Spanish-language audiences in the U.S. is promoting the individual who has been leading its radio stations, giving him oversight of the company's local TV stations, too.

The Commission on November 1, 2022, adopted a forfeiture order fining the broadcast TV station owner hundreds of thousands of dollars for violating its Top Four ownership rule in Anchorage, Alaska. Gray blasted the FCC, calling the Order “wrongly decided” and pledging to take the Commission to court. Gray has moved forward with that promise.

At a special meeting held on Wednesday, Sinclair Broadcast Group's shareholders gave an affirmative nod to the company's previously announced reorganization. With a share exchange coming, a new holding company — Sinclair Inc. — is on track to become the publicly traded parent of Sinclair Broadcast Group and its subsidiaries. 

The broadcast TV station owner and the under-construction Assembly TV and film production center parent has not only named a new Chief Revenue Officer and new Chief Marketing Officer, but also a Senior Managing Vice President.