New Vision Television was a broadcast company based in Los Angeles, California. Throughout its two decade plus history, the company owned or managed over 50 television stations in large and medium-sized markets.
History
New Vision I Formed by Jason Elkin in 1993 in Atlanta, Georgia, New Vision Television began its ownership in local television by acquiring the News-Press & Gazette Company's stations in December 1993 for $110 million. The deal included television stations in Jackson, Mississippi (WJTV, including semi-satellite WHLT in Hattiesburg); Wilmington, North Carolina (WECT), Savannah, Georgia (WSAV-TV), Sioux Falls, South Dakota (KSFY-TV and satellites KABY-TV and KPRY-TV), and Tucson, Arizona (KOLD-TV). New Vision I sold its assets to Bert Ellis and Ellis Communications in 1995 for $230 million.
New Vision II New Vision Television CEO Jason Elkin and COO John Heinen started a new company, New Vision Television II, that capitalized with $200 million and owned a maximum of four network affiliates. (Elkin had bought the stations from NPG that were sold to Ellis.) New Vision II owned KSBY in Santa Barbara, California; KVII-TV in Amarillo, Texas; WISE-TV in Fort Wayne, Indiana; and KDLH in Duluth, Minnesota. In 2005, New Vision II sold all of its stations at the time to Cordillera Communications, Barrington Broadcasting, and Granite Broadcasting.
New Vision III New Vision III was a restart of the company with new stations. On August 1, 2006, New Vision announced an agreement to acquire CBS affiliates WIAT in Birmingham, Alabama; and KIMT in Mason City, Iowa, from Media General for $35 million. The acquisition was finalized on October 12 of that year.Media General Press ReleasesMedia General Completes Sale of WIAT-TV in Birmingham, Ala., and KIMT-TV in Mason City, Iowa, to New Vision Television On November 15, New Vision announced an agreement to acquire CBS affiliate WKBN-TV and sister Fox affiliate WYFX-LP in Youngstown, Ohio, for undisclosed terms, and signed a shared services agreement to operate Youngstown ABC affiliate WYTV for owner Parkin Broadcasting (later named PBC Broadcasting). New Vision subsequently launched the My Valley branding for several services offered by WKBN, WYFX, and WYTV. In September 2007, New Vision acquired Savannah, Georgia, ABC affiliate WJCL from Piedmont Television; in November, it acquired all of the assets of Montecito Broadcasting: KOIN in Portland, Oregon; KHON-TV in Honolulu, Hawaii, and satellites; KSNW in Wichita, Kansas, and satellites; and (in a related stock transaction) KSNT in Topeka, Kansas. In 2008, New Vision bought KTMJ-CA and repeaters in Topeka (co-managed with KSNT) and announced plans to convert KBNZ-LD in Bend, Oregon (which has since been sold), from a translator of KOIN to its own station.Bend, Ore., CBS Affil to Launch - TVWeek - News
In 2009, New Vision Television received a $28 million line of credit during its bankruptcy proceedings. New Vision, doing business as NV Broadcasting, filed for Chapter 11 after reaching an agreement with first- and second-lien debt holders that converts $400 million in debt to equity in the reorganized company.
On May 7, 2012, LIN Media acquired the 13 television stations owned by New Vision Television. The sale provided a significant gain in equity for New Vision’s investors. The sales agreement included operational control of the three PBC Broadcasting-owned stations (KTKA, WTGS and WYTV) involved in shared service agreements with New Vision-owned stations in Topeka, Savannah and Youngstown (the licenses of the PBC stations are being transferred to Vaughan Media as part of the deal). The FCC approved the deal on October 2, 2012, and was completed on October 12, 2012. LIN was itself absorbed by Media General in late 2014; Media General would then be absorbed to Nexstar Media Group in 2017.
Former stations Stations are arranged in alphabetical order by state and city of license.
+ Stations owned by New Vision Television Media market State Station Purchased Sold Notes Birmingham Alabama WIAT 2006 2012 Tucson Arizona KOLD-TV 1993 1995 San Luis Obispo California KSBY 2002 2004 Savannah Georgia WSAV-TV 1993 1995 WJCL 2007 2012 WTGS 2007 2012 Honolulu Hawaii KHON-TV 2007 2012 Hilo KHAW-TV 2007 2012 Kauai K55DZ 2007 2012 Wailuku KAII-TV 2007 2012 Fort Wayne Indiana WISE-TV 2003 2005 Mason City Iowa KIMT 2006 2012 Garden City Kansas KSNG 2007 2012 Great Bend KSNC 2007 2012 Topeka KSNT 2007 2012 KTMJ-CD 2008 2012 KTKA-TV 2011 2012 Salina KSNL-LD 2007 2012 Wichita KSNW 2007 2012 Duluth Minnesota KDLH 2003 2005 Hattiesburg Mississippi WHLT 1993 1995 Jackson WJTV 1993 1995 McCook Nebraska KSNK 2007 2012 Clovis New Mexico KVIH-TV 2002 2005 Wilmington North Carolina WECT 1993 1995 Youngstown Ohio WKBN-TV 2007 2012 WYFX-LD 2007 2012 WYTV 2007 2012 Bend Oregon KBNZ-LD 2007 2010 Portland KOIN 2007 2012 Aberdeen South Dakota KABY-TV 1993 1995 Pierre KPRY-TV 1993 1995 Sioux Falls KSFY-TV 1993 1995 Amarillo Texas KVII-TV 2002 2005
References
External links Investment information