Hearst has agreed to acquire WBBH-TV from Waterman Broadcasting Corporation, subject to regulatory approval. The NBC-affiliated television station is the market leader serving the Fort Myers and Naples, Florida, DMA. WBBH-TV also broadcasts the Heroes & Icons network on a digital sub-channel. The announcement was made by Steven R. Swartz, president and CEO of Hearst, and Jordan Wertlieb, president of Hearst Television Inc. Terms of the transaction were not disclosed.
Under the transaction, Hearst will assume Waterman Broadcasting’s programming relationship with Montclair Communications, Inc., owner of WZVN-TV, the market’s ABC affiliate. WZVN-TV also broadcasts the MeTV and Dabl networks on its digital sub-channels.
The acquisition of WBBH-TV expands Hearst’s presence in Florida. The company owns WESH-TV and WKCF-TV, the NBC and CW affiliates in Orlando; WPBF-TV, the ABC affiliate serving the West Palm Beach television market; and WMOR-TV, an independent television station in Tampa-St. Petersburg. Hearst Television reaches nearly one out of every five households in the U.S.
WBBH-TV and WZVN-TV have earned multiple awards for compelling and in-depth journalism and service to the Fort Myers and Naples communities. Collectively, the stations earned three national Edward R. Murrow Awards in 2022 from the Radio Television Digital News Association.
“This transaction provides an excellent strategic fit for our company and underscores our commitment to local television broadcasting and to leadership in our television markets across the country,” Swartz said.
“Bernie and Edith Waterman have been outstanding stewards of WBBH-TV and the programming relationship with WZVN-TV. They have served the viewers of Fort Myers and Naples with distinction since 1979. Of course, both stations provided important lifesaving coverage during Hurricane Ian and have been providing information and updates as the area recovers and rebuilds. We are proud to have been selected to continue the legacy of such distinguished broadcasters,” Wertlieb said.
Steve Pontius, executive vice president and general manager of Waterman Broadcasting, stated, “Waterman Broadcasting has always placed paramount importance on local journalism and unwavering service to the community. Southwest Florida viewers have known for decades that they can ‘Count on NBC2.’ I am confident that Hearst is the best television broadcaster in America to continue that commitment.”
"The decision to sell WBBH is challenging and emotional," commented Edith B. Waterman, president of Waterman Broadcasting. "We have had the great privilege of proudly serving southwest Florida for more than four decades. Broadcasting has filled our lives with wonderful relationships and deep ties to our communities. I am so grateful to all the talented and dedicated employees who made our innovative stations pillars of their communities and great places to work and grow over the last 67 years.”
“Hearst Television has long admired the manner in which Waterman Broadcasting, together with Montclair Communications, under the leadership of Lara Kunkler, has demonstrated a consistent commitment to excellence in both news and community service; these are the twin pillars of success in local television and are core tenets of Hearst,” added Michael J. Hayes, Hearst Television’s chief operating officer. “We look forward to upholding that tradition in the rapidly growing southwest Florida region.”
Fort Myers/Naples is the 55th largest television market in the United States. The acquisition would add a 12th NBC affiliate to the Hearst station group. Hearst also owns 14 ABC affiliates. Both represent significant partnerships with the respective networks.
WBBH-TV went on the air in December 1968 as the market’s NBC affiliate. Waterman Broadcasting Corporation was founded by Bernard Waterman in 1956 when he purchased WAAB-AM in Worcester, Massachusetts. WBBH and what is now WZVN began a programming relationship in 1994.
The anticipated closing date for the transaction is third-quarter 2023, pending completion of all regulatory approvals.
About Hearst Television:
Hearst Television owns and operates 33 television and two radio stations serving 26 media markets across 39 states reaching over 22 million U.S. television households. Through its partnership with nearly all major networks, Hearst Television distributes national content over more than 120 video channels including programming from ABC, NBC, CBS, CW, MY Net, MeTV, Estrella and more. The radio stations are leaders in Baltimore news/talk and rock music listenership. Its Hearst Media Production Group unit produces original programming across linear and streaming platforms for domestic and international distribution. Its Very Local app, free to download on household OTT devices and available across popular streaming services, offers 24/7 access to local news, weather and an array of local and regional programming. Hearst Television is recognized as one of the industry's premier companies and has been honored with numerous awards for distinguished journalism, industry innovation and community service. Hearst Television is a wholly owned subsidiary of Hearst.
About Hearst:
Hearst is a leading global, diversified information, services and media company with operations in 40 countries. Its major interests include global financial services leader Fitch Group; Hearst Health, a group of medical information and services businesses; Hearst Transportation, which includes CAMP Systems International, a major provider of software-as-a-service solutions for managing maintenance of jets and helicopters; ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; 33 television stations; 24 daily and 52 weekly newspapers; digital services businesses; and nearly 260 magazines around the world. Follow us on Twitter @Hearst. To learn more about Hearst, visit hearst.com.
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mattlechner
We live in Connecticut where Hearst has a total choke hold on local newspapers. We have been terrorized and abused by the Hearst media combine for years now. They covered up a sexual assault on one of our family members. They block us from normal access to business services such as classified advertising. They also block us from normal subscription services. They are true domestic terrorists, and they should not be allowed to own media companies in America.
Wednesday, April 26, 2023 Report this