Corporate parents are negotiating a merger that would impact Buffalo operations. Plus: the tone-deafness of Tim Kennedy and Chris Collins.
We’re facing the prospect of a merger involving the chain owners of Channels 2 and 4, who between them dominate the local TV news ratings. According to press reports, Nextstar, whose holdings include WIVB, is negotiating to acquire TEGNA (WGRZ) in a deal that would involve 264 stations nationally.
Media consolidations are rarely a good thing, and the Buffalo market is likely to be ill-served by a Nextstar-TEGNA merger. Competition is likely to take a hit and a downsizing of the joined operations is likely, although the stations would maintain separate newsrooms. Staff salaries at Channel 2 are likely to take a hit, as Nextstar is considered a penny-pinching employer…