The New York Times Broadcast Group Has a New Owner! (almost)
What does a vacuum cleaner company, a skiing company and a fast food restaurant franchise have in common with the New York Times Broadcast group? They are all about to be under the same ownership. The deal was announced Thursday afternoon that the Oak Hill Partnership Group has bought the NYTimes Broadcast group for 575-million dollars. OHPGroup has, according to its website a number of holdings including the Oreck company (vacuum cleaners), a Burger King Franchise in Puerto Rico and the American Skiiing Company to name just a few. They have at least three telecommunications companies including cable and broadband but this will be the first broadcast group. The sale is expected to be finalized in about six months. The big question now; what does all of this mean to the worker bees. That remains to be seen, but some have already speculated that if an investment firm bought the broadcast group cuts can be expected as investment firms want a decent return on what they bought. I know hopes had been high that a company already involved in broadcasting would buy the nine NYTimes stations but so much for wishful thinking.
So, at least now NYTimes employees have a better idea of what they are dealing with so they can better prepare for the future. Hey, the good news is that no staff reductions should be made between now and the start of summer so at least there's time to pay off the Christmas bills.
So, at least now NYTimes employees have a better idea of what they are dealing with so they can better prepare for the future. Hey, the good news is that no staff reductions should be made between now and the start of summer so at least there's time to pay off the Christmas bills.
posted by Joe Larkins at 2:19 PM
12 Comments:
this means they'll get to find out what it's like to be run by a company like Raycom. it's not good. the NYT was all about news and understood news. this company just wants cash and i'm sure could care less about news. it does not bode well. they'll probably lose staff positions through attrition on air and off. i would expect the 4 pm news from Peabody Place to cease as soon as that agreement expires. that broadcast requires two staffs, one at the station and one at the mall, and it does them little good. i feel bad for them. it's like when Raycom took over 5 from Ellis and look what happened.
Well, I'm sure there'll be a nice discount on vacuum cleaners! (does that sound a bit to sarcastic? sorry.)
Actually I haven't seen the 4 and 4:30 news on WREG anchored at Peabody Place in a long long time - I thought it was maybe the holiday but maybe not.
The 9 am show still is, however.
First prediction:
You won't see five meteorologist on staff once the FCC approves the sale.
The GM
I have to agree with anon -- the business strategy that sells vacuums and burgers doesn't fly in TV... and job cuts are probably likely.
Having said that... even with the 4pm show (and excluding the 9am show, which doesn't have news)... am I wrong in thinking that the staffage at 3 is a little bloated? By the counts on their Web site, there are 27 on-air folks (5 wx folks, but 2 sports staff?)... and I'm sure that SOME reporter position is going to get cut... and there's probably going to be some shufflage in the weather department as well.
Also -- can anybody tell me... does 3 rent out office space for their Germantown and Southhaven newsrooms? If so, I'd say that'd probably be cut too.
Lastly -- I just hope this means the Knowledge Bowl winners don't get ski equipment instead of scholarships.
At least they will have clean carpets!
Doesn't DOTR share the outlying office space with the CA?
I have news for you. NYT hasn't put much into its television stations since the newspapers started to slide. Every dime of profit was sucked out and sent to prop up the Times and the Globe, plus build the new Taj Mahal HW in NYC. OHP can't be much worse.
Actually 'REG might be better off with the "numbers nerds". WMC fared better with Bert Ellis than with Raycom. Raycom came in saying "We're broadcasters...we understand broadcasting...don't worry, be happy." And then it started...
Question.
Hasn't Raycom spent millions on the station at 1960 Union after it was neglected by Scripps and Ellis? They have a fancy newsroom, new cameras and now a new radar. Now that the Evil One aka Peggy Phillip has gone, things should be peachy at WMC.
I really don't understand why everyone thinks Raycom is such a terrible company. There has been a tremendous amount of investment put into the Newsroom and the building. Also, new set, new trucks, new radar, new newsroom system, new P2 cameras for field acquisition, new control room, plus more surprises for 2007, that really sounds like a company that is letting WMC die. LMAO
Now on to the Peggy haters, you have no idea what type of person she really is. She is gone and you have been dancing on her "grave". Find somebody else to vilify. Move on!
WREG's Germantown bureau has gone the way of the dinosaurs. I believe WREG does rent the space (one room, plus usage of the CA newsroom for live shots) from the CA at the Southaven bureau.
The reason for the Live at 9, 4 pm newscast and 430 pm newscast is that management has found out it is cheaper to produce its own live shows than pay high dollars for syndicated shows. You've already got those high dollar on-air talent working at the station, might as milk as much on-air work from them as possible and add the hiring of production people at minimum wage.
Don't be surprised to see the current executives at WREG come knocking at your front door of your house in the future to try to sell you a vacuum cleaner.
Did WMC ever get a sat truck?
(I hope that doesn't come across as condescending, but it would surprise the hell out of me if they hadn't -- still.)
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