Posted 30 Jun 2011 — by Michigan Media
Young Broadcasting, the parent company of WLNS (Channel 6) in Lansing, is being quietly offered for sale for as much as $350 million.
Young Broadcasting’s 10-station group is being quietly offered for sale for as much as $350 million, multiple sources tell TVNewsCheck.
A year out of bankruptcy, the station group is widely viewed as financially healthy. The proposed sale appears timed to capitalize on what many anticipate will be a record year for political advertising in 2012.
Young’s asking price represents a multiple of roughly eight times blended projected 2011-12 cash flow, according to several sources familiar with the situation.
One of those sources said Young is looking at 2011 cash flow in the low- to mid-$30 millions range.
Posted 30 Jun 2011 — by Michigan Media
WXYZ (Channel 7) in Detroit is using social media to help clean up the city.
Don’t just complain about sad news – do something about it! That’s what viewers of and staffers from WXYZ in Detroit did, using the power of social media in the community. Using the Twitter hashtag #backchannel and Facebook, a group of more than a hundred people gathered to help clean up Detroit. The group partnered with Motor City Blight Busters, a non-profit dedicated to cleaning up the city. On Saturday, June 25, in concert with Motor City Blight Busters, the #backchannel volunteers, according to WXYZ, helped “take down an old building, clear a vacant eyesore and clean up a playground.”
WWMT (Channel 3) in Kalamazoo has a new anchor team. Andy Dominianni and Kate Tillotson will co-anchor the weekday evening news for the station.
Freedom Broadcasting of Michigan, WWMT Newschannel 3 is proud to announce that Andy Dominianni and Kate Tillotson will be the Evening Co-Anchors for the station.
Andy is returning home to West Michigan and is familiar with the anchor chair at Newschannel 3. He has worked at WWMT before as a Morning Anchor from 1996 to 1999. His first day back at Newschannel 3 will be on June 27th. Kate will be moving from anchoring the morning news to the evening news. She has been filling in the evenings already and will replace Judy Markee who retired in May.
“We are thrilled to have two anchors that really know West Michigan, and are extremely familiar with all the issues and challenges that people in our community care about,” said Jim Lutton, WWMT Vice President and General Manager.
Buyout discussions between Freedom Communications and MediaNews Group broke down because of disagreements over price. Freedom owns CBS affiliate WWMT in Kalamazoo and ABC affiliate WLAJ in Lansing.
Buyout discussions between the publishers of the Denver Post and Orange County Register broke down recently amid disagreements over price, said people familiar with the matter, as regional newspapers grapple with consolidation efforts to shore up their finances.
Freedom Communications Inc., the Irvine, Calif., company that owns the Register, more than 100 other local newspapers and several television stations, is now turning attention to other possible suitors and could soon sell itself in whole or in pieces, the people said.
People close to MediaNews Group Inc., the Denver Post’s publisher, said the company believes Freedom is worth about $700 million. Still, it remained unclear how much MediaNews offered for Freedom during the recent discussions. People familiar with the situation said it remained possible the two sides could resume talks.
The Wall Street Journal
Jayne Hodak has been promoted to news director at SJL Broadcasting’s WJRT in Flint. Hodak replaces Jim Bleicher. Also, Kathy Reynolds has replaced Jeff Reinarz as news director of Barrington’s Broadcasting’s WEYI in Flint. Reinarz will stay on as the media operations manager.
WJRT-TV, Flint, MI: JAYNE HODAK has been promoted to News Director for this SJL Broadcasting owned ABC affiliate. She has been the Assistant ND here, and replaces longtime WJRT ND JIM BLEICHER. Bleicher left the station in late March, shortly after SJL took over ownership of the station from ABC, from whom SJL had bought the station in 1995. Jayne’s a former EP in Raleigh, and has also worked in Lansing and Detroit, where her father JERRY HODAK spent many years as the chief meteorologist for WXYZ-TV.
WEYI-TV, Flint, MI: KATHY REYNOLDS has been named ND for this Barrington Broadcasting owned NBC affiliate. Kathy has been running the newsroom at WAOW-TV in Wausaw, WI, most recently. Earlier she was an investigative reporter and Special Projects Manager for WGGB-TV in Springfield, MA. She’s also worked in Grand Rapids, MI, Burlington, Fargo, and Elmira, NY. She replaces JEFF REINARZ who continues as Media Operations Manager here, overseeing promotion and operations. He’s been doing double duty as ND since January, 2009.
Rick Gevers and Associates
WWMT and the American Red Cross held a phone-a-thon to raise money for severe weather victims in West Michigan. The one day phone-a-thon raised $21,478 for American Red Cross disaster relief.
Freedom Broadcasting’s CBS affiliate WWMT Grand Rapids-Kalamazoo-Battle Creek, Mich. (DMA 41), and the American Red Cross (Greater Kalamazoo Area Chapter and Calhoun County Chapter) held a one day phone-a-thon to raise money for severe weather victims in West Michigan. The weekend storms hit the area hard, causing widespread destruction, especially in Calhoun, St. Joseph, and Kalamazoo counties.
The one day phone-a-thon ran from 5 a.m. to midnight and raised $21,478 for American Red Cross Disaster Relief. The Red Cross continues to help area families with shelter, meals, agency referrals and mental health assistance.
“We are happy to be able to help the American Red Cross who is always there for us when disaster strikes. This year has been unprecedented for severe weather damage but we are lucky to live in such a generous community.” said Jim Lutton, WWMT VP-GM.