Big Media's Cross to Bear

BIG MEDIA CROSS TO BEAR
[SOURCE: The Street 6/22, AUTHOR: Sandy Brown]
Newspapers and local TV stations aren't necessarily a match made in heaven, big media companies are learning. A number of big newspaper outfits bought into the TV business in a bid to reap supposed advertising synergies. But while some operators have succeeded -- E.W. Scripps and Belo come to mind -- such cases are proving to be the exception, not the rule. Hard-won experience shows both the paper and the TV station must be market leaders for the owner to enjoy the benefits of cross-ownership. Newspaper companies that don't enjoy significant efficiencies from local TV assets might be smart to sell some stations.
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