In a significant shift for Atlanta television, WANF-TV, known as Atlanta News First and a CBS affiliate for 31 years, has announced its transition to becoming an independent station come August.
This change marks a pivotal development in the local broadcasting landscape and reflects larger trends in media ownership and station affiliations.
The transition comes on the heels of ongoing speculation surrounding Cox Media Group (CMG), which owns WSB-TV, another major local station.
CMG is reportedly evaluating a potential sale as its parent company, Apollo Global Management Inc., has shown interest in divesting its portfolio of local broadcast and radio stations.
According to a Bloomberg report published in March, Apollo favors finding a single buyer for CMG rather than splitting up its assets among multiple entities.
Gray Television, one of the largest television station owners in the U.S., along with Nexstar Media Group, has emerged as a potential suitor for these local broadcasting assets.
In terms of reach, Gray operates within 113 television markets, covering approximately 37% of U.S. households, making it a major player in the industry.
Atlanta stands out as Gray’s largest market, where it already owns WANF, PeachtreeTV, and Telemundo Atlanta.
Acquiring WSB-TV would bolster Gray’s presence, as it is the highest-rated station in the city.
Such high-value acquisitions are particularly enticing given the current decline in traditional television viewership, prompting media companies to target stations with stronger ratings and broader household reach.
However, any acquisition move would require approval from the Federal Communications Commission (FCC).
The FCC’s Local Television Ownership Rule prohibits a single entity from owning, operating, or controlling two television stations in the same market, provided both rank within the top four based on audience share ratings.
An exception can be permitted if the digital noise limits of their service areas do not overlap.
Earlier this year, Gray received a rare waiver from these local ownership regulations, allowing it to acquire a second station in Rochester, Minnesota.
This waiver marked a significant shift as it was the first FCC approval for such a combination of top-ranked stations in several years.
Gray’s strategy focuses on acquiring stations it believes can enhance revenue, maximize efficiencies, and improve cash flow.
Presently, Gray has not hit the FCC limit regarding station ownership in the U.S., which is set at no more than 39% of households.
As the media landscape continues to evolve, the departure of WANF from CBS could signify larger changes ahead for Atlanta’s broadcast scene.
Moreover, it sets the stage for potential speculative moves by major players like Gray as they navigate the complexities of media ownership and adherence to regulatory frameworks.
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