tag:blogger.com,1999:blog-1143088625756367367.post1937047461363920793..comments2023-07-12T07:00:42.975-05:00Comments on News McNabb: Red McCombs Media of Austin Acquired by LIN TVNewsMcNabbhttp://www.blogger.com/profile/08040170736717649659noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1143088625756367367.post-27686365107556242872009-10-07T20:07:40.804-05:002009-10-07T20:07:40.804-05:00Jim,
Changing subjects again.
You recently stat...Jim,<br /><br />Changing subjects again. <br /><br />You recently stated your believe that television stations should have put reporters on health care reform. I bring that up because I want to give you a glimpse at behind the scenes developments that have occurred on that issue at the major TV networks. These developments have not been reported in the media. I'll add a note to your blog about that subject in the coming days.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1143088625756367367.post-15896461746704189502009-10-07T19:59:05.115-05:002009-10-07T19:59:05.115-05:00Jim,
"Crushing debt" is absolutely the ...Jim,<br /><br />"Crushing debt" is absolutely the way to describe the company's debt obligations.<br /><br />As I've mentioned before, LIN TV and all other broadcast companies will have to come up with new ways to make money. But the first obvious place to tap to increase revenues -- get KXAN's two subchannels up and running with programming and commercials.<br /><br />Why hasn't that happened?<br /><br />LIN TV doesn't have the ready cash to make it happen. Additional cuts in staffing would not free up the money needed to operate subchannels.<br /><br />On another point, LIN TV needs to cook up new multi-platform approaches for expanding revenues. The company is working on that right now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1143088625756367367.post-37952035847677225362009-10-07T11:56:28.585-05:002009-10-07T11:56:28.585-05:00Editor's Note: KXAN TV management has not res...Editor's Note: KXAN TV management has not responded to any of my questions for the purposes of this medium in months. <br /><br />I've asked about the digital subchannels, but received no response. <br /><br />I've been patient. I still have many friends at KXAN. It may be time to contact the corporate office. <br /><br />That's all of the enlightenment I have, dang it.<br /><br />Regarding the financials of the deal to buy RM Media, what "Anonymous" #1 said is apparently fact. The numbers were repeated in the Austin American-Statesman this morning. In the limited time I had to work on the story yesterday, I could not independently verify them.<br /><br />Yes, LIN has crushing debt. Their August financial report is posted on their web site. I glanced at it yesterday. <br /><br />While they continue losing money, the upside is that LIN's digital dollars are growing, leading to the purchase of RM Media.<br /><br />For RM Media, however, it doesn't look like a very good deal to me: $1.2-million in cash, $2.2-million in an UNSECURED loan and the rest in stock, stock which is worth about 20% of its original price when offered and now varies wildly in value. Interesting. <br /><br />JimNewsMcNabbhttps://www.blogger.com/profile/08040170736717649659noreply@blogger.comtag:blogger.com,1999:blog-1143088625756367367.post-17963641224719885632009-10-07T11:28:07.296-05:002009-10-07T11:28:07.296-05:00Jim,
How about writing an item about when KXAN-TV...Jim,<br /><br />How about writing an item about when KXAN-TV will begin operating a subchannel?<br /><br />KEYE has one in operation and KVUE does, too. So what's the deal with KXAN?<br /><br />Enlighten us!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1143088625756367367.post-46784199222780246072009-10-06T17:14:51.212-05:002009-10-06T17:14:51.212-05:00They still are.They still are.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1143088625756367367.post-43551144651114827372009-10-06T16:58:45.715-05:002009-10-06T16:58:45.715-05:00Wasn't someone on here posting not that long a...Wasn't someone on here posting not that long ago that LIN was having money woes?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1143088625756367367.post-4025110200345731892009-10-06T14:50:11.680-05:002009-10-06T14:50:11.680-05:00While LIN is taking a forward-looking approach, an...While LIN is taking a forward-looking approach, another broadcast company is at the financial edge.<br /><br />Emmis Communications, owner of six Austin radio stations, including KLBJ AM & FM, and Texas Monthly, has received a notice from NASDAQ that the company is subject to delisting if the company's common stock price doesn't rise about the minimum bid price of $1 per share by March 15 of next year.<br /><br />The company is looking at various options if its common stock doesn't trade at a level that is likely to regain compliance. A reverse stock split is one option for raising the stock price.<br /><br />In the last fiscal year, Emmis lost $284 million.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1143088625756367367.post-15828640667274824782009-10-06T11:44:54.494-05:002009-10-06T11:44:54.494-05:00Jim,
You're welcome. The news release did not...Jim,<br /><br />You're welcome. The news release did not mention the cost of the purchase.<br /><br />The acquisition cost LIN $7.9 million, paid with $1.2 million in cash, $2.2 million in an unsecured note and the rest in Class A common stock.Anonymousnoreply@blogger.com