Paramount weighs selling a dozen local stations for up to $1B
Paramount Global is reportedly exploring the sale of up to a dozen of its independent major-market local TV stations, valued between $500 million and $1 billion. This potential divestiture highlights questions about the economic viability of local broadcasting and could lead to further media consolidation among companies already near FCC ownership caps.
Key Takeaways
- The reported sale covers up to 12 Paramount local TV stations in major markets.
- Estimated proceeds for the station group are $500 million to $1 billion.
- Nexstar Media Group, Gray Television, and Sinclair Broadcast Group are named as likely bidders.
- Nexstar is already using the FCC’s 70s-era “UHF discount,” which the article says gives it 68% national coverage.
- Apollo Global Management and Standard Media are also cited as logical suitors.
Why It Matters
If Paramount moves ahead, it would mark another major studio-owner treating local TV stations as non-core assets. The immediate issue is valuation: the article says the 12-station package may fetch $500 million to $1 billion, far below what similar assets might have commanded a decade ago. The broader competitive angle is regulatory, since likely buyers such as Nexstar, Gray, and Sinclair are already at or near FCC ownership caps and have been pushing to loosen them. Watch whether Paramount actually lists the stations and which buyer type — broadcaster or private equity — emerges first.
Read full article at tvrev.com