New Vision Television

New Vision Television
New Vision Television
Type Private
Industry Media
Founded 1993
Headquarters Los Angeles, CA
Key people Jason Elkin, Chairman and CEO
Products Television
Employees 1050
Website www.newvisiontv.com

New Vision Television is a broadcast company based in Los Angeles, California. The company owns or manages 18 television stations in medium sized markets.

Contents

History

New Vision I

Formed in 1993 in Atlanta, GA, New Vision Television began its ownership in local television by acquiring the assets of News Press Gazette in December 1993 for $110 million. The deal included television stations in Jackson, MS (WJTV, including semi-satellite WHLT in Hattiesburg); Wilmington, NC (WECT), Savannah, GA (WSAV); Sioux Falls, SD (KSFY and satellites KABY and KPRY); and Tucson, Arizona (KOLD). New Vision I sold its assets to Bert Ellis and Ellis Communications in 1995 for $230 million. (Most of them initially went to Raycom Media, but some had to be traded to Media General and KSFY was sold to Hoak Media.)

New Vision II

New Vision Television CEO Jason Elkin and COO John Heinen started a new company, New Vision Television II, that capitalized with $200 million and owned a maximum of four network affiliates. (Elkin had bought the stations from NPG that were sold to Ellis.) New Vision II owned KSBY in Santa Barbara, California; KVII-TV in Amarillo, Texas; WISE-TV in Fort Wayne, Indiana; and KDLH in Duluth, Minnesota. In 2005, New Vision II sold all of its stations at the time to Evening Post Publishing Company, Barrington Broadcasting, and Granite Broadcasting Group.

New Vision III

New Vision III was a restart of the company with new stations. On August 1, 2006, New Vision announced an agreement to acquire CBS affiliates WIAT in Birmingham, Alabama and KIMT in Mason City, Iowa from Media General for $35 million. The acquisition was finalized on October 12 of that year.[1][2] On November 15, New Vision announced an agreement to acquire CBS affiliate WKBN-TV and sister Fox affiliate WYFX-LP in Youngstown, Ohio for undisclosed terms, and signed a shared services agreement to operate Youngstown ABC affiliate WYTV for owner Parkin Broadcasting. New Vision subsequently launched the My Valley branding for several services offered by WKBN, WYFX, and WYTV. In September 2007, New Vision acquired Savannah, Georgia ABC affiliate WJCL-TV from Piedmont Television; in November, it acquired all of the assets of Montecito Broadcasting: KOIN-TV in Portland, Oregon; KHON-TV in Honolulu, Hawaii and satellites; KSNW-TV in Wichita, Kansas and satellites; and (in a related stock transaction) KSNT-TV in Topeka, Kansas. In 2008, New Vision bought KTMJ-CA and repeaters in Topeka (co-managed with KSNT) and announced plans to convert KBNZ-LD in Bend, Oregon (which has since been sold) from a translator of KOIN to its own station.[3]

Chapter 11 bankruptcy

On July 13, 2009, New Vision Television filed for chapter 11 bankruptcy.[4] On September 30, 2009, within 80 days, New Vision Television exited bankruptcy and its restructuring process with full agreement with all of its debt holders. [5]

Post Restructuring

Post restructuring New Vision Television has continued to build and expand its business. In August 2011 the company entered into a shared service and sales agreement with Parkin Broadcasting to operate KTKA, the ABC affiliate in Topeka, KS. New Vision has combined the news operations of KSNT, KTMJ, and KTKA into a virtual triopoly under the unified banner of Kansas First News and will continue to offer Topeka excellent news coverage while taking advantage of the efficiencies of a combined operation.

New Vision recently completed moving station operations of WJCL (ABC) & WTGS (FOX), operated under a shared service and sales agreement with Parkin Broadcasting, into a state of the art facility co-located with the Savannah Morning News. This new facility will allow both WJCL & WTGS to take advantage of new technology and increase their ability to serve their communities. News operations from both stations will be collaborating with the Savannah Morning News in an effort to bring the highest quality news product to the Savannah community.

Stations

DMA# City of License/Market Station Channel
DT / Virtual
Owned Since Affiliation Notes
22 Portland, OR KOIN 40 / 6 November 1, 2007 CBS
40 Birmingham, AL WIAT 30 / 42 October 12, 2006 CBS
69 Wichita, KS KSNW 45 / 3 November 1, 2007 NBC Originating station for the Kansas State Network
71 Honolulu, HI KHON 8 / 2 November 1, 2007 Fox Airs the market's CW 93 programming on 2.2
96 Savannah, GA WJCL 22 2007 ABC Operates WTGS under SSA
110 Youngstown, OH WKBN 41 / 27 2007 CBS Airs Fox programming on 27.2,
Operates WYTV under SSA
136 Topeka, KS KSNT 27 November 1, 2007 NBC Airs Fox programming on 27.2,
Operates KTKA under SSA
153 Mason City, IA KIMT 42 / 3 October 12, 2006 CBS Airs MyNetwork programming on 3.2

References

  1. ^ Media General Press Releases
  2. ^ Media General Completes Sale of WIAT-TV in Birmingham, Ala., and KIMT-TV in Mason City, Iowa, to New Vision Television
  3. ^ Bend, Ore., CBS Affil to Launch - TVWeek - News
  4. ^ "New Vision Television reaches agreement with its first and second lien debt holders; company's financial restructuring moving forward" (PDF) (Press release). New Vision Television. 2009-07-13. http://www.newvisiontv.com/press/NewVision-PressRelease-061309.pdf. Retrieved 2009-07-16. 
  5. ^ http://www.newvisiontelevision.com/pressreleases-restructuring.html

External links


Wikimedia Foundation. 2010.

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