Lma Agreement Definition

Gannett Company`s acquisition of Belo in 2013 was denied by organizations such as the American Cable Association and Free Press, with Gannett planning to use LMAs and two Shell companies owned by former executives of Belo and Fisher Communications (Sander Media and Tucker Operating Co.) respectively to avoid Fcc-Cross ownership restrictions in Louisville, Phoenix, Oregon, Oregon and Tucson. While Gannett said the agreements were legal, Free Press President Craig Aaron said, “The FCC should not let Gannett break the rules. Consolidating the media leads to fewer journalists in the newsroom and fewer opinions on the radio. The concentration of media in the hands of a few companies benefits only the companies themselves. The agreement would have given Gannett a virtual triopoly in Phoenix, consisting of NBC KPNX, independent channel KTVK and kasw, a subsidiary of CW. In Tucson, FOX subsidiary KMSB and KTTU, a subsidiary of MyNetworkTV, have already been operated by KOLD-TV, a subsidiary of raycom Medias CBS, in a shared services agreement based under Belo`s ownership, but gannett would continue to conduct advertising sales for the channels. [61] At the January 2014 City Hall meeting, FCC Chairman Tom Wheeler announced his intention to take a closer look at the use of the LMA and Shell companies, and said that there were some references in some recent decisions where we said we will do things differently for shell companies. Later that month, it was reported that the FCC had frozen all ongoing acquisitions related to the use of shell companies, allowing the Commission to discuss policy changes. Among the transactions affected by this decision was the purchase of Sinclair/Allbritton mentioned above. [84] [85] As part of the proposed acquisition of Allbritton Communications, Sinclair originally planned to sell its existing stations in three markets – Charleston, South Carolina, Birmingham, Alabama and Harrisburg, Pennsylvania – where Allbritton already owned stations but continues to operate them through local marketing agreements.

WABM and WTTO in Birmingham and WHP-TV in Harrisburg are expected to be sold to Deerfield Media and WMMP in Charleston is expected to be sold to Howard Stirk Holdings, a broadcasting company owned by conservative expert Armstrong Williams. [75] Howard Stirk Holdings was also used as a secondary car for two opposing issuers in Sinclair`s acquisition of the former Barrington broadcasting. [76] Add the wording “guarantee intent” to the guarantee clause. It can be difficult for lenders to obtain a guarantee if the terms of the underlying loan are then changed without the agreement of the surety. However, a lender may be in a better position if it can prove that the guarantor and lender thought about the nature of the change at the time of the guarantee. The term “guarantee intention” of the LF agreement attempts to remedy this situation. The first local marketing agreement for North American television was concluded in 1991, when sinclair Broadcast Group purchased Fox`s subsidiary WPGH-TV in Pittsburgh, Pennsylvania. Given that Sinclair already had the independent channel WPTT (now the subsidiary of MyNetworkTV WPNT) in this market, Sinclair, who allegedly violated the FCC`s rules, which had then banned the duopoly of the television channel, decided to sell WPTT`s undervaluation to the channel`s director, Eddie Edwards, but to continue to operate the channel through an LMA (Sinclair finally bought the channel – and then broadcast the WCWB call sticks – in 2000, after the Federal Communications Commission began to authorize joint ownership of two television channels in the same market, creating a legal duopoly). [5] On February 26, 2016, Media General obtained an action against Gray for violation of the SSA and JSA, which required Gray to return control of WAGT to Media General and prohibited Gray from selling wagt at frequency incentive auctions.

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