The station, a prominent source for local news in the coal region, is among those Tribune is acquiring in a deal announced Monday that would make the Chicago company the largest TV station owner in the United States.
The deal also significantly increases Tribune’s stake in Pennsylvania. Tribune, which publishes The Morning Call, already owns WPHL in Philadelphia and WPMT in York. WNEP will expand the reach of the company’s television assets into 21 northeastern Pennsylvania counties, the state’s fourth-largest television market.
That area has a total of 581,020 homes with television viewers, making it the No. 54 market in the country, according to the Nielsen Co.
Las Vegas Sands, the world’s largest casino company, is asking as much as $1 billion for the Bethlehem casino. But the source cautioned it’s part of company policy to gauge outside interest on every company property in the United States.
In other words, while Las Vegas Sands’ highly lucrative Macau properties are off-limits, every Sands casino in the U.S.— even the Venetian — theoretically could be had, for the right price.
Some analysts theorize that with Sands Bethlehem revenues riding high, and potential gambling competition brewing in New York state, the time is right for Las Vegas Sands to sell Bethlehem — its only U.S. casino outside Las Vegas.
President Barack Obama and Warren Buffett in the Oval Office, July 14, 2010. (Photo credit: Wikipedia)
Tribune Co.’s imminent emergence from an epic bankruptcy has fueled a flurry of speculation about the future of one of the country’s largest diversified news media empires.
Weighing in on the matter Thursday was one of the world’s richest men, Warren Buffett. The Oracle of Omaha, as he is known for his legendary financial prowess, expressed interest in one of Tribune”s newspapers. Which one?
Average Sunday circulation for the six-month period ending March 31 was 125,549, up 3 percent compared to the same period a year earlier, according to figures released Tuesday by the Audit Bureau of Circulations, a media industry group. Sunday is the most important day for newspapers since it brings in the bulk of advertising revenue.
Weekday circulation was down 5 percent, to 100,196. The Morning Call attributed the decline to “the impact of the single issue price increase to $1.50” and “repositioning … to grow Sunday and other key advertising days of the week.”
…Mack produced 1,076 rigs in July, up 41 percent compared with the same time a year ago. The Volvo AB subsidiary has made 10,674 trucks from January through July. Mack’s latest figures put the company’s production up 61 percent compared with the same span a year earlier, a pace that could make 2011 one of its best years since the Great Recession sapped truck demand…