LIN Media today announced comprehensive, long-term renewals of its CBS affiliations in 10 markets.
The affiliates signing on for more of NCIS and The Big Bang Theory: WIAT Birmingham, Ala.; WIVB Buffalo, N.Y.; KRQE, KBIM and KREZ Albuquerque, N.M.; WPRI Providence, R.I.; WANE Fort Wayne, Ind.; WTHI Terre Haute, Ind.; KIMT Mason City, Iowa; KOIN Portland, Ore.; WKBN Youngstown, Ohio; and WLFI Lafayette, Ind.
"We are pleased to have reached long-term agreements with CBS,” said Vincent L. Sadusky, president-CEO of LIN Media. “Our stations are important assets to our local communities and these new agreements ensure that LIN Media and CBS will continue to serve local viewers with high-quality network programming.”
Terms were not disclosed disclosed as they never are in retrans deals. But they are probably not what LIN had once hoped for. Earlier this month, in the middle of negotiations, CBS yanked its affliation from WISH Indianapolis, effective Jan. 1, ending a 58-year partnership. In doing so, CBS made clear it wasn't getting the retrans value it had been seeking from LIN. CBS's new affiliate in DMA 26 will be Tribune's WTTV.
Wells Fargo Senior Analyst Marci Ryvicker said of the LIN-CBS affiliation deal: “With this announcement, we think a pretty significant overhang on LIN's (and Media General's) stock should be removed. Recall that the lion's share of LIN's CBS affiliation agreements are expiring on Jan. 1, 2015, and most of Media General's expire on various dates throughout 2015. We would venture to guess that Media General will have an announcement out shortly as well. Similar to Gray, LIN now has ''closure'' and can begin MVPD negotiations for retransmission consent with a lot more visibility.”
LIN Renews CBS Affiliations in 10 Markets
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