Bidding is expected to heat up in the days ahead on two collections of important local TV assets — Fox’s 22 regional sports networks and Tribune Media’s 42 TV stations and WGN America. Variety reports that separate auctions for the two bundles are expected to be wrapped up by the end of the year.
“The nature of the players lining up for these properties, which include Amazon and private equity heavyweights, speaks volumes about the transformation of media economics, particularly for outlets that have historically operated with a narrow regional focus,” Variety reports. “The advent of digital streaming and entry of tech giants with deep pockets is starting to upend the broadcast TV business’s traditional local-national partnership structure.”
The report adds: “The latest round of asset-swapping and empire-building that will rev up before year’s end promises to change the economic underpinnings of local TV even more.”
We encourage readers to click on the link above to Variety to read the publication’s full analysis.