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New Vision Television
Company typePrivate
IndustryBroadcast and Digital
Founded1993
DefunctOctober 12, 2012 (2012-10-12)
FateAcquired by LIN TV Corp.
Successor
Headquarters
Los Angeles, California
,
United States
Key people
  • Jason Elkin
  • Chairman / CEO
ServicesTelevision stations, Digital media
Number of employees
1550

New Vision Television was a broadcast company based in Los Angeles, California. Throughout its two decade plus history, the company owned or managed over 20 television stations in large and medium-sized markets.

History

New Vision I

Formed by Jason Elkin in 1993 in Atlanta, GA, New Vision Television began its ownership in local television by acquiring the assets of News-Press & Gazette Company 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-TV), 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 Cordillera Communications, Barrington Broadcasting, and Granite Broadcasting.

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 (later named PBC 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]

In 2009, New Vision Television received a $28 million line of credit during its bankruptcy proceedings. New Vision, doing business as NV Broadcasting, filed for Chapter 11 after reaching an agreement with first- and second-lien debt holders that converts $400 million in debt to equity in the reorganized company.[4]

On May 7, 2012, LIN Media acquired the 13 television stations owned by New Vision Television.[5] The sale provided a significant gain in equity for New Vision’s investors. The sales agreement included operational control of the three PBC Broadcasting-owned stations (KTKA, WTGS and WYTV) involved in shared service agreements with New Vision-owned stations in Topeka, Savannah and Youngstown (the licenses of the PBC stations are being transferred to Vaughan Media as part of the deal).[6] The FCC approved the deal on October 2, 2012, and was completed on October 12, 2012. LIN was itself absorbed by Media General in late 2014; Media General would then be absorbed to Nexstar Media Group in 2017.[7]

Former stations

Stations are arranged in alphabetical order by state and city of license.

City of license / Market Station Channel Years owned Current status
Birmingham–Tuscaloosa–Anniston, AL WIAT 42 2006–2012 CBS affiliate owned by Nexstar Media Group
Tucson, AZ KOLD-TV 13 1993–1995 CBS affiliate owned by Gray Television
San Luis Obispo, CA KSBY 6 2002–2004 NBC affiliate owned by the E. W. Scripps Company
Savannah, GA WSAV-TV 3 1993–1995 NBC affiliate owned by Nexstar Media Group
WJCL 22 2007–2012 ABC affiliate owned by Hearst Television
WTGS 28 2007–2012[a] Fox affiliate owned by Sinclair Broadcast Group
Honolulu, HI KHON-TV 2 2007–2012 Fox affiliate owned by Nexstar Media Group
Hilo, HI KHAW-TV[A] 11 2007–2012 Fox affiliate owned by Nexstar Media Group
Wailuku, HI KAII-TV[A] 7 2007–2012 Fox affiliate owned by Nexstar Media Group
Kauai, HI K55DZ[B] 55 2007–2012 Defunct, license cancelled in 2013
Fort Wayne, IN WISE-TV 33 2003–2005 The CW affiliate owned by Gray Television
Mason City, IA–Rochester, MN KIMT 3 2006–2012 CBS affiliate owned by Allen Media Broadcasting
Topeka, KS KSNT 27 2007–2012 NBC affiliate owned by Nexstar Media Group
KTMJ-CD 43 2008–2012 Fox affiliate owned by Nexstar Media Group
KTKA-TV 49 2011–2012[a] ABC affiliate owned by Vaughan Media[b]
Wichita, KS KSNW 3 2007–2012 NBC affiliate owned by Nexstar Media Group
Garden City, KS KSNG[C] 11 2007–2012 NBC affiliate owned by Nexstar Media Group
Great Bend, KS KSNC[C] 2 2007–2012 NBC affiliate owned by Nexstar Media Group
Salina, KS KSNL-LD[C] 47 2007–2012 NBC affiliate owned by Nexstar Media Group
McCook, NE KSNK[C] 8 2007–2012 NBC affiliate owned by Nexstar Media Group
Duluth, MN KDLH 3 2003–2005 The CW affiliate owned by Gray Television
Jackson, MS WJTV 12 1993–1995 CBS affiliate owned by Nexstar Media Group
Hattiesburg, MS WHLT[D] 22 1993–1995 CBS affiliate owned by Nexstar Media Group
Wilmington, NC WECT 6 1993–1995 NBC affiliate owned by Gray Television
Youngstown, OH WYFX-LD 19 2007–2012 Fox affiliate owned by Nexstar Media Group
WKBN-TV 27 2007–2012 CBS affiliate owned by Nexstar Media Group
WYTV 33 2007–2012[a] ABC affiliate owned by Vaughan Media[b]
Portland, OR KOIN 6 2007–2012 CBS affiliate owned by Nexstar Media Group
Bend, OR KBNZ-LD[E] 7 2007–2010 CBS affiliate owned by Zolo Media
Sioux Falls, SD KSFY-TV 13 1993–1995 ABC affiliate owned by Gray Television
Aberdeen, SD KABY-TV[F] 9 1993–1995 Defunct, license cancelled in 2018
Pierre, SD KPRY-TV[F] 4 1993–1995 ABC affiliate owned by Gray Television
Amarillo, TX KVII-TV 7 2002–2005 ABC affiliate owned by Sinclair Broadcast Group
Clovis, NM KVIH-TV[G] 12 2002–2005 ABC affiliate owned by Sinclair Broadcast Group

Notes

  1. ^ a b Satellite of KHON-TV.
  2. ^ Translator of KHON-TV.
  3. ^ a b c d Satellite of KSNW.
  4. ^ Semi-satellite of WJTV.
  5. ^ Satellite of KOIN.
  6. ^ a b Satellite of KSFY-TV.
  7. ^ Satellite of KVII-TV.
  1. ^ a b c Owned by PBC Broadcasting, LLC, and operated by New Vision through an SSA.
  2. ^ a b Operated through an SSA by Nexstar Media Group.

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 Archived 2012-09-10 at archive.today
  3. ^ Bend, Ore., CBS Affil to Launch - TVWeek - News
  4. ^ TVTechnology (16 July 2009). "New Vision Television Bankruptcy Goes Forward". TvTechnology. Retrieved 2019-12-18.
  5. ^ "LIN Media Completes the Acquisition of Television Stations from New Vision Television". www.businesswire.com. 2012-10-12. Retrieved 2019-12-18.
  6. ^ Malone, Michael (May 7, 2012). "LIN Acquiring New Vision Stations for $330 Million". Broadcasting & Cable. Retrieved May 7, 2012.
  7. ^ "Nexstar Broadcasting Group Completes Acquisition of Media General Creating Nexstar Media Group, The Nation's Second Largest Television Broadcaster". Nexstar Media Group, Inc. 2017-01-17. Retrieved 2018-11-25.
source: https://en.wikipedia.org/wiki/New_Vision_Television