This is the biggest of Sinclair’s recent deals to bulk up its TV station portfolio — and it’s one that also will make it a prominent player in Washington. When completed, expected by year end, Sinclair will pick up seven ABC affiliates including Washington DC’s WJLA, and DC’s NewsChannel 8 cable news service. ”To buy a full-blown news operation in our nation’s capital and an infrastructure that allows us to be connected to our branches of government and be at the pulse of national issues is a once-in-a lifetime event,” Sinclair CEO David Smith says. He adds that NewsChannel 8 could also provide a “perfect platform should we decide to expand it into other markets, especially given the amount of local news we produce across our entire portfolio.” If he follows through by creating cable channels in his markets that blend local and national news, then it would create a network that’s “the first of its kind and likely to bring significant synergies,” says Wells Fargo Securities’ Marci Ryvicker. She adds that after the deal, Sinclair stations will reach about 22% of U.S. households. Allbritton Communications CEO Robert Allbritton said in May that he planned to unload the stations to help him build his political news site Politico and “place additional bets on media companies that meet my definition of successful journalistic and business enterprises. Politico continues to carry no debt, funds all investment with operating income and will still turn a profit, again, in 2013. That is the textbook definition of a thriving, sustainable new media company.” Sinclair made it clear that it sees a bright future for broadcasting with acquisitions this year of Fisher Communications and Barrington Broadcasting. Sinclair shares are up 2% in early trading, and are +197% over the last 12 months. Here’s the release about today’s TV station deal with financial details:
David Chalian has been named VP of video programming at Politico, the site reported today. Chalian was fired as Yahoo News Washington Bureau Chief during the Republican National Convention after he was caught on open mic over a break during an ABC News/Yahoo News webcast saying Mitt Romney and his wife Anne were “not concerned at all” about African Americans suffering because of Hurricane Isaac and were “happy to have a party with black people drowning”. He was referring to the fact that the convention was taking place as Isaac made landfall on the north Gulf coast. Politico Editor In Chief John Harris told Dylan Byers “David screwed up, admitted he screwed up and paid the price of losing his job for screwing up”. He added that Chalian has “made clear that remark did not reflect his personal views or professional standards”.
Daniel Day-Lewis, George Clooney, Spielberg Among Hollywood Heavyweights For White House Correspondents’ Dinner
Abraham Lincoln is coming to this weekend’s White House Correspondent’s dinner. Actually the Great Emancipator isn’t coming but Daniel Day-Lewis, who plays the 16th President in the upcoming Steven Spielberg Lincoln film, is. The often reclusive Oscar winner, a guest of the Huffington Post, is one of many Hollywood heavyweights who’ll be joining the President, the First Lady and headliner Jimmy Kimmel at the April 28 shindig.
Earlier today Politico announced some of their Tinseltown guests, now the political insider site reports on the guests of the networks, print and online media. George Clooney will be hosting a fundraising dinner for the President in his home on May 10 but Clooney’s attending the WHCA dinner as a guest of Time as is Steven Spielberg. Reese Witherspoon and The Help’s Viola Davis will be there thanks to Newsweek/The Daily Beast. DreamWorks Studios co-chair and CEO Stacey Snider is a guest of the Atlantic.
NBC hasn’t revealed its guests but ABC has Sofia Vergara and most of the rest of the cast from Modern Family as well as The Hunger Games’ Elizabeth Banks and Paul Rudd. Another Hunger Games alumni Josh Hutcherson will be there courtesy of People magazine. CBS has invited Homeland’s Claire Danes, who plays a CIA operative on the series so she should feel right at home among the political and military attendees, and The Good Wife’s Christine Barnanski. USA Today has Martha Stewart, Kelly Ripa and …
Ari Emanuel and Charlize Theron will be among the Hollywood A-listers joining Barack Obama and the political elite at this year’s White House Correspondent’s dinner Saturday night. Politico announced today that the WME CEO and Oscar-winning actress are coming to the WHCA as their guests. Also invited are Desperate Housewives’ Eva Longoria, a longtime Obama supporter; Hollywood stylist and Bravo star Rachel Zoe; Apprentice judge Ivanka Trump; and MPAA chairman Chris Dodd. Former Michigan governor and Current TV host Jennifer Granholm and FCC chairman Julius Genachowski also are invited. Of course, they all might be overshadowed by Lindsay Lohan, who is expected to be a guest of Fox News’ Greta Van Susteran.
(June 27, 2011)— The Random House Publishing Group, a division of Random House Inc., the largest English-language trade book publisher, announced today a new joint venture with POLITICO, the leading source for political news, to publish a series of four instant digital books on the 2012 Presidential Election. The books, which will be available exclusively in electronic form, to be published starting this fall, will give readers an unprecedented look behind the scenes of the election in real time, providing detail, color, in-depth analysis beyond the hourly headlines and commentary, and ultimately a look at the final results, and how and why it all happened.
The as-yet-untitled series will be reported and written by Mike Allen, POLITICO’s chief White House Correspondent and author of the renowned daily tip-sheet, Playbook, and Evan Thomas, award-winning writer and author. Each book will include exclusive reporting from the campaign trail and will chronicle the campaign as it unfolds.
The New York Times and Politico report that the Washington Post Co will sell Newsweek to Dr. Sidney Harman, a 91-year old stereo equipment magnate, philanthropist, and husband of U.S. Rep Jane Harman (D-Calif.). The NYT reports that Harman began selling FM radios in the 1950s. Now, he’ll have to prove that a print newsweekly isn’t the equivalent of the phonograph. He’ll do it without longtime editor Jon Meacham, who’s going to leave. Harman is paying $1, and absorbing Newsweek‘s “considerable financial liabilities”. Newsweek, which has been redesigned as it switched from hard news to trends and analysis, lost nearly $30 million last year alone,