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News
CBS buys a second TV station in the New York DMA
The implication for CBS Radio is that wouldn't be able to buy any additional stations, since it already has six radio stations and parent CBS would have two TV outlets. That is the maximum for a market with what the FCC defines as at least 20 "independent media voices." If CBS did want to add another FM, to simulcast one of its three AMs, it could try asking the FCC for a waiver.
No price immediately announced for WLNY television, licensed to Riverhead on Long Island. Wells Fargo analyst Marci Ryvicker says "pursuing a duopoly in New York makes sense, and we view the news as a positive for several reasons." Those include the potential to run higher margins than CBS can achieve with WCBS-TV as a standalone. Ryvicker sees upside in the potential for more news product on WLNY, and says the "tuck-in acquisition" is not a change in a strategy for CBS (and not a big outlay of capital). Seller is the family of Michael Pascucci. TVNewscheck says this gives CBS television duopolies in a total of ten markets: L.A., Philadelphia, Dallas, San Francisco, Boston, Detroit, Miami, Sacramento and Pittsburgh, as well as New York. The New York TV Board of Radio-Info.com is already discussing the move here.
No price immediately announced for WLNY television, licensed to Riverhead on Long Island. Wells Fargo analyst Marci Ryvicker says "pursuing a duopoly in New York makes sense, and we view the news as a positive for several reasons." Those include the potential to run higher margins than CBS can achieve with WCBS-TV as a standalone. Ryvicker sees upside in the potential for more news product on WLNY, and says the "tuck-in acquisition" is not a change in a strategy for CBS (and not a big outlay of capital). Seller is the family of Michael Pascucci. TVNewscheck says this gives CBS television duopolies in a total of ten markets: L.A., Philadelphia, Dallas, San Francisco, Boston, Detroit, Miami, Sacramento and Pittsburgh, as well as New York. The New York TV Board of Radio-Info.com is already discussing the move here.
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