Heritage Media

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Heritage Media Corporation
Public
Traded asNYSE: HTG
IndustryTelevision, Radio, Marketing
PredecessorHeritage Communications
SuccessorNews Corporation
Sinclair Broadcast Group
FoundedAugust 1987 (1987-08)
Founder
  • James M. Hoak, Jr.
DefunctAugust 20, 1997 (1997-08-20)
Headquarters,
United States
Area served
United States (Nationwide)
RevenueIncrease $10 billion USD (1996)

Heritage Media Corporation (NYSE: HTG) was a media company which owned television and radio stations across the United States, as well as in-store and direct marketing companies. It was based in Dallas, Texas from 1987 to 1997.

History[edit]

Heritage Media was founded in August 1987[1] by a group of Heritage Communications executives to acquire the company's television and radio stations.[2] The sale coincided with Heritage Communications' merger with Tele-Communications Inc.;[2] at the time, Federal Communications Commission (FCC) regulations did not allow a company to own both a television station and a cable system in a market.[3] Heritage Communications had acquired the stations through the 1985 purchase of Dakota Broadcasting[4] and the 1986 acquisitions of Rollins Communications[5] and six LIN Broadcasting radio stations.[6] Heritage Media's president and chief executive officer, James M. Hoak, Jr., held the same positions with Heritage Communications; the company's headquarters were located in Des Moines, Iowa (where Heritage Communications was based) until later in 1987, when it relocated to Dallas, Texas.[7]

Heritage Media managed its television stations with more of an emphasis on cash flow than ratings, and focused its radio group on stations that it felt needed a turnaround (for instance, it had acquired KKSN AM-FM in Portland, Oregon out of bankruptcy). To implement this strategy, the company's stations operated with large sales staffs but were otherwise staffed sparingly. Heritage Media went public in September 1988, trading on the American Stock Exchange. By then, it had invested in POP Radio, an in-store radio company, and Du-Kross Media, which sold advertisements on shopping carts.[1] In 1989, Heritage Media purchased Actmedia, a in-store marketing company.[8] In 1996, the company merged with DIMAC Corporation, a direct marketing services company.[9] On July 15, 1996, Heritage Media moved its stock listing to the New York Stock Exchange.[10]

News Corporation announced on March 17, 1997 that it would acquire Heritage Media for $754 million. The purchase was mainly for the Actmedia and DIMAC subsidiaries, and News Corporation immediately announced its intention to sell Heritage Media's broadcast properties; News Corporation's Fox Television Stations subsidiary was already at Federal Communications Commission (FCC) ownership limits, and the company had no interest in operating radio stations.[11] On July 16, 1997, Sinclair Broadcast Group announced that it would acquire the Heritage Media stations for $630 million.[12] The sale to News Corporation was completed on August 20, 1997;[13] Heritage Media's stations were then transferred to a trustee, with Sinclair assuming control of the stations in stages from January 29, 1998[14] to July 1998.[15] Actmedia was folded into News Corporation's News America Marketing subsidiary.[16]

Stations formerly owned by Heritage Media[edit]

Stations are arranged alphabetically by state and by city of license.

Television stations[edit]

City of license / Market Station Channel
TV (RF)
Years owned Current ownership status
Pensacola, FloridaMobile, Alabama WEAR-TV 3 (17) 1987–1997 ABC affiliate owned by Sinclair Broadcast Group
WFGX 35 (50) 1995–1997 1 MyNetworkTV affiliate owned by Sinclair Broadcast Group
Burlington, VermontPlattsburgh -
North Pole, New York
WPTZ 5 (14) 1987–1997 NBC affiliate owned by Hearst Television
WFFF-TV 44 (43) 1997 1 Fox affiliate owned by Nexstar Media Group
Hartford, VermontHanover, New Hampshire WNNE
(semi-satellite of WPTZ)
31 (25) 1990–1997 The CW affiliate - Montpelier, Vermont - owned by Hearst Television
Oklahoma City, Oklahoma KAUT-TV 43 (40) 1987–1991 Independent station owned by Tribune Broadcasting
KOKH-TV 25 (24) 1991–1997 Fox affiliate owned by Sinclair Broadcast Group
Rapid City, South Dakota KEVN-TV 2 7 (7) 2 1987–1996 ABC affiliate, KOTA-TV channel 3, owned by Gray Television 2
Lead, South Dakota KIVV-TV
(satellite of KEVN)
5 (5) 1987–1996 ABC affiliate, KHSD-TV channel 11, owned by Gray Television
Sioux Falls, South Dakota KDLT 46 (47) 3 1987–1994 NBC affiliate owned by Red River Broadcasting
CharlestonHuntington, West Virginia WCHS-TV 8 (41) 1987–1997 ABC affiliate owned by Sinclair Broadcast Group

Notes:

  • 1 WFGX and WFFF-TV were operated by Heritage Media under local marketing agreements.
  • 2 The KEVN intellectual unit, including its use of virtual channel 7 and its Fox affiliation, was transferred by Gray Television to a low-power license, KEVN-LD, in 2016.
  • 3 KDLT operated on channel 5 in Mitchell, South Dakota while under Heritage Media ownership. In 1998, Red River Broadcasting moved KDLT-TV to channel 46 in Sioux Falls, with the channel 5 license in Mitchell repurposed as satellite station KDLV-TV.

Radio stations[edit]

AM Station FM Station
Market Station Years owned Current ownership
Santa MonicaLos Angeles KDAY-1580 1987–1991 KBLA, owned by Multicultural Broadcasting
New Orleans WBYU-1450 1997 defunct, went silent in 2011
WEZB-97.1 1997 owned by Entercom
WRNO-FM-99.5 1997 owned by iHeartMedia
Kansas City, Missouri KCAZ-1480 1997 KCZZ, owned by TBLC Holdings
KXTR-96.5 1997 KRBZ, owned by Entercom
KQRC-FM-98.9 1997 owned by Entercom
KCFX-101.1 1992–1997 owned by Cumulus Media
KCIY-106.5 1995–1997 WDAF-FM, owned by Entercom
St. Louis WIL/WRTH-1430 1987–1997 KZQZ, owned by Entertainment Media Trust
WIL-FM-92.3 1987–1997 owned by Hubbard Broadcasting
KRJY/KIHT-96.3 1994–1997 KNOU, owned by Entercom
Rochester, New York WBBF-950 1987–1997 WROC, owned by Entercom
WBEE-FM-92.5 1987–1997 owned by Entercom
WQRV-93.3 1997 WFKL, owned by Stephens Media Group
WKLX-98.9 1993–1997 WBZA, owned by Entercom
Fairfield, OhioCincinnati WOFX/WVAE-94.9 1992–1997 WREW, owned by Hubbard Broadcasting
Portland, Oregon KKSN-910 1988–1997 KMTT, owned by Entercom
KKSN-FM-97.1 1988–1997 KYCH-FM, owned by Entercom
KXYQ-FM/KKRH-105.1 1995–1997 KRSK, owned by Entercom
Knoxville, Tennessee WWST-93.1 1996–1997 WNOX, owned by SummitMedia
WMYU-102.1 1996–1997 WWST, owned by SummitMedia
Norfolk - Virginia Beach - Newport News WGH-1310 1997 owned by Max Media
WGH-FM-97.3 1997 owned by Max Media
WVCL-95.7 1997 WVKL, owned by Entercom
Seattle KRPM/KULL-770 1988–1995 KTTH, owned by Bonneville International
KRPM-1090 1995–1997 KFNQ, owned by iHeartMedia
KRPM-FM/KCIN-FM/KBKS-106.1 1988–1997 owned by iHeartMedia
Milwaukee WEMP-1250 1988–1997 WSSP, owned by Entercom
WMYX-FM-99.1 1988–1997 owned by Entercom
WEZW/WAMG-103.7 1994–1997 WXSS, owned by Entercom

References[edit]

  1. ^ a b "Heritage's Hoak and his vision of success" (PDF). Broadcasting. November 14, 1988. pp. 64–5. Retrieved May 2, 2017.
  2. ^ a b "Heritage Stockholders Approve Buyout By Tele-Communications Inc". Associated Press. June 30, 1987. Retrieved May 2, 2017.
  3. ^ "Heritage receives $835-million buyout bid" (PDF). Broadcasting. February 9, 1987. pp. 48–9. Retrieved May 2, 2017.
  4. ^ "Changing Hands" (PDF). Broadcasting. March 18, 1985. p. 86. Retrieved May 2, 2017.
  5. ^ "Rollins family selling control to Heritage for $260 million" (PDF). Broadcasting. May 19, 1986. pp. 85–6. Retrieved May 2, 2017.
  6. ^ "Changing Hands" (PDF). Broadcasting. November 10, 1986. p. 92. Retrieved May 2, 2017.
  7. ^ "Bottom Line" (PDF). Broadcasting. October 12, 1987. p. 85. Retrieved May 2, 2017.
  8. ^ Rabinovitz, Jonathan (August 18, 1991). "All About/In-Store Promotions; Influencing Shoppers During the Moment of Decision". The New York Times. Retrieved May 2, 2017.
  9. ^ "Heritage Media Corporation Form 8-K/A" (TXT). EDGAR. Securities and Exchange Commission. March 7, 1996. Retrieved May 2, 2017.
  10. ^ "Heritage Media Corporation Form 10-Q" (TXT). EDGAR. Securities and Exchange Commission. August 14, 1996. Retrieved May 4, 2017.
  11. ^ Fabrikant, Geraldine (March 18, 1997). "News Corporation Buying Heritage Media of Dallas". The New York Times. Retrieved May 2, 2017.
  12. ^ "Sinclair to buy Heritage radio and TV stations". The New York Times. Reuters. July 17, 1997. Retrieved May 4, 2017.
  13. ^ "News Corp. closes Heritage Media buy". Variety. August 21, 2017. Retrieved May 4, 2017.
  14. ^ "Sinclair Broadcast Group, Inc. Form 10-K" (TXT). EDGAR. Securities and Exchange Commission. March 30, 1998. Retrieved May 4, 2017.
  15. ^ "Sinclair Broadcast Group, Inc. Form 10-K" (TXT). EDGAR. Securities and Exchange Commission. March 30, 1999. Retrieved May 4, 2017.
  16. ^ "More High-Tech, Still High-Touch". PROMO Magazine. July 1, 1998. Archived from the original on November 18, 2006. Retrieved May 4, 2017.