NBC Puts Two Stations on Block
WTVJ Miami, WVIT Hartford, Conn., for Sale as NBC Universal Seeks to Focus on Top 10 Markets
By Michael Malone -- Broadcasting & Cable, 3/19/2008 11:43:00 AM
NBC Universal is shopping WTVJ Miami and WVIT Hartford, Conn., as the NBC Local Media Division seeks to focus on top 10 markets and its growing stable of digital assets.
WTVJ does business in the No. 16 Nielsen DMA, and NBCU will hold onto its WSCV Telemundo outlet there.
WVIT is in the No. 28 DMA and pulls in about 26% of the TV revenue in Hartford, according to BIA Financial Networks, good for second in the market.
“We're in the process of re-engineering the way we think, shifting our focus from a traditional stations business to becoming full-service local-media-production centers,” NBC Local Media president John Wallace said in an internal memo.
NBC Local Media’s recent digital acquisitions include Skycastle Entertainment and LX.TV.
“These growth investments are an important part of ensuring our long-term viability,” Wallace wrote. “They also need to be self-funded. As a result, we've taken a hard look at our portfolio and made some difficult decisions about what's best for our business going forward.”
Meetings were being held at the two stations Wednesday to brief employees and address their questions.
