Heritage Media
{{Use mdy dates|date=May 2023}}
{{Short description|American media company, 1987–1997}}
{{Infobox company
| name = Heritage Media Corporation
| type = Public
| traded_as = NYSE: HTG
| predecessor = Heritage Communications
| successor = {{ubl|News Corporation|Sinclair Broadcast Group}}
| industry = Television, radio, marketing
| founded = {{start date|1987|8}}
| founder = {{ublist|James M. Hoak Jr.}}
| defunct = {{end date|1997|8|20}}
| hq_location_city = Dallas, Texas
| hq_location_country = U.S.
| area_served = United States (nationwide)
| revenue = {{profit}} $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 from 1987 to 1997.
History
Heritage Media was founded in August 1987{{cite news|title=Heritage's Hoak and his vision of success|url=http://americanradiohistory.com/Archive-BC/BC-1988/BC-1988-11-14.pdf|access-date=May 2, 2017|work=Broadcasting|date=November 14, 1988|pages=64–5}} by a group of Heritage Communications executives to acquire the company's television and radio stations.{{cite news|title=Heritage Stockholders Approve Buyout By Tele-Communications Inc.|url=https://apnews.com/ce1401b187da54b06d554e7cc4b63baa|access-date=May 2, 2017|work=Associated Press|date=June 30, 1987}} The sale coincided with Heritage Communications' merger with Tele-Communications Inc.; 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.{{cite news|title=Heritage receives $835-million buyout bid|url=http://americanradiohistory.com/Archive-BC/BC-1987/BC-1987-02-09.pdf|access-date=May 2, 2017|work=Broadcasting|date=February 9, 1987|pages=48–9}} Heritage Communications had acquired the stations through the 1985 purchase of Dakota Broadcasting{{cite news|title=Changing Hands|url=http://americanradiohistory.com/Archive-BC/BC-1985/BC-1985-03-18.pdf|access-date=May 2, 2017|work=Broadcasting|date=March 18, 1985|page=86}} and the 1986 acquisitions of Rollins Communications{{cite news|title=Rollins family selling control to Heritage for $260 million|url=http://americanradiohistory.com/Archive-BC/BC-1986/BC-1986-05-19.pdf|access-date=May 2, 2017|work=Broadcasting|date=May 19, 1986|pages=85–6}} and six LIN Broadcasting radio stations.{{cite news|title=Changing Hands|url=http://americanradiohistory.com/Archive-BC/BC-1986/BC-1986-11-10.pdf|access-date=May 2, 2017|work=Broadcasting|date=November 10, 1986|page=92}} 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.{{cite news|title=Bottom Line|url=http://americanradiohistory.com/Archive-BC/BC-1987/BC-1987-10-12.pdf|access-date=May 2, 2017|work=Broadcasting|date=October 12, 1987|page=85}}
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. In 1989, Heritage Media purchased Actmedia, a in-store marketing company.{{cite news|last1=Rabinovitz|first1=Jonathan|title=All About/In-Store Promotions; Influencing Shoppers During the Moment of Decision|url=https://www.nytimes.com/1991/08/18/business/all-about-in-store-promotions-influencing-shoppers-during-the-moment-of-decision.html?pagewanted=all|access-date=May 2, 2017|work=The New York Times|date=August 18, 1991}} In 1996, the company merged with DIMAC Corporation, a direct marketing services company.{{cite web|title=Heritage Media Corporation Form 8-K/A|url=https://www.sec.gov/Archives/edgar/data/821020/0000821020-96-000001.txt|website=EDGAR|publisher=Securities and Exchange Commission|access-date=May 2, 2017|format=TXT|date=March 7, 1996}} On July 15, 1996, Heritage Media moved its stock listing to the New York Stock Exchange.{{cite web|title=Heritage Media Corporation Form 10-Q|url=https://www.sec.gov/Archives/edgar/data/821020/0000821020-96-000006.txt|website=EDGAR|publisher=Securities and Exchange Commission|access-date=May 4, 2017|format=TXT|date=August 14, 1996}}
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 FCC ownership limits, and the company had no interest in operating radio stations.{{cite news|last1=Fabrikant|first1=Geraldine|title=News Corporation Buying Heritage Media of Dallas|url=https://www.nytimes.com/1997/03/18/business/news-corporation-buying-heritage-media-of-dallas.html|access-date=May 2, 2017|work=The New York Times|date=March 18, 1997}} On July 16, 1997, Sinclair Broadcast Group announced that it would acquire the Heritage Media stations for $630 million.{{cite news|title=Sinclair to buy Heritage radio and TV stations|url=https://www.nytimes.com/1997/07/17/business/sinclair-to-buy-heritage-radio-and-tv-stations.html|access-date=May 4, 2017|work=The New York Times|agency=Reuters|date=July 17, 1997}} The sale to News Corporation was completed on August 20, 1997;{{cite news|title=News Corp. closes Heritage Media buy|url=https://variety.com/1997/biz/news/news-corp-closes-heritage-media-buy-1116677466/|access-date=May 4, 2017|work=Variety|date=August 21, 2017}} Heritage Media's stations were then transferred to a trustee, with Sinclair assuming control of the stations in stages from January 29, 1998,{{cite web|title=Sinclair Broadcast Group, Inc. Form 10-K|url=https://www.sec.gov/Archives/edgar/data/912752/0001005150-98-000185.txt|website=EDGAR|publisher=Securities and Exchange Commission|access-date=May 4, 2017|format=TXT|date=March 30, 1998}} to July 1998.{{cite web|title=Sinclair Broadcast Group, Inc. Form 10-K|url=https://www.sec.gov/Archives/edgar/data/912752/0001005150-99-000213.txt|website=EDGAR|publisher=Securities and Exchange Commission|access-date=May 4, 2017|format=TXT|date=March 30, 1999}} Actmedia was folded into News Corporation's News America Marketing subsidiary.{{cite news|title=More High-Tech, Still High-Touch|url=http://promomagazine.com/mag/marketing_hightech_hightouch/|access-date=May 4, 2017|work=PROMO Magazine|date=July 1, 1998|archive-url=https://web.archive.org/web/20061118140207/http://promomagazine.com/mag/marketing_hightech_hightouch/|archive-date=November 18, 2006|url-status=dead}}
Former stations
- Stations are arranged in alphabetical order by state and city of license.
| class="wikitable sortable"
|+ Stations owned by Heritage Media ! scope="col" | Media market ! scope="col" | State ! scope="col" | Station ! scope="col" | Purchased ! scope="col" | Sold ! scope="col" class="unsortable" | Notes | |||
| Los Angeles | California
! KDAY | 1987 | 1991 | |
| rowspan="2" | Pensacola | rowspan="2" | Florida
! WEAR-TV | 1987 | 1997 | |
| WFGX
| 1995 || 1997 || {{efn|name=Hrtg|Owned by a third party and operated by Heritage Media.}} | |||
|---|---|---|---|
| rowspan="3" | New Orleans | rowspan="3" | Louisiana
! WBYU | 1997 | 1997 | |
| WEZB
| 1997 || 1997 || | |||
| WRNO-FM
| 1997 || 1997 || | |||
| rowspan="5" | Kansas City | rowspan="8" | Missouri
! KCAZ | 1997 | 1997 | |
| KCFX
| 1992 || 1997 || | |||
| KCIY
| 1995 || 1997 || | |||
| KQRC-FM
| 1997 || 1997 || | |||
| KXTR
| 1997 || 1997 || | |||
| rowspan="3" | St. Louis
! KIHT | 1994 | 1997 | {{Efn|Known as KRJY prior to 1994.}} | |
| WIL-FM
| 1987 || 1997 || | |||
| WRTH
| 1987 || 1997 || {{Efn|Known as WIL prior to 1991.}} | |||
| Plattsburgh | rowspan="5" | New York
! WPTZ | 1987 | 1997 | |
| rowspan="4" | Rochester
! WBBF | 1987 | 1997 | ||
| WBEE-FM
| 1987 || 1997 || | |||
| WKLX
| 1993 || 1997 || | |||
| WQRV
| 1997 || 1997 || | |||
| Cincinnati | Ohio
! WVAE | 1992 | 1997 | {{Efn|Known as WOFX prior to 1995.}} |
| rowspan="2" | Oklahoma City | rowspan="2" | Oklahoma
! KAUT-TV | 1987 | 1991 | |
| KOKH-TV
| 1991 || 1997 || | |||
| rowspan="3" | Portland | rowspan="3" | Oregon
! KKRH | 1995 | 1997 | {{Efn|Known as KXYQ-FM prior to 1995.}} |
| KKSN
| 1988 || 1997 || | |||
| KKSN-FM
| 1988 || 1997 || | |||
| Lead | rowspan="3" | South Dakota
! KIVV-TV | 1987 | 1996 | {{efn-ua|Satellite of KEVN-TV.}} |
| Rapid City
! KEVN-TV | 1987 | 1996 | ||
| Sioux Falls
! KDLT | 1987 | 1994 | ||
| rowspan="2" | Knoxville | rowspan="2" | Tennessee
! WMYU | 1996 | 1997 | |
| WWST
| 1996 || 1997 || | |||
| Burlington | rowspan="2" | Vermont
! WFFF-TV | 1997 | 1997 | {{efn|name=Hrtg}} |
| Hartford
! WNNE | 1990 | 1997 | {{efn-ua|Semi-satellite of WPTZ.}} | |
| rowspan="3" | Norfolk–Virginia Beach–Newport News | rowspan="3" | Virginia
! WGH | 1997 | 1997 | |
| WGH-FM
| 1997 || 1997 || | |||
| WVCL
| 1997 || 1997 || | |||
| rowspan="3" | Seattle–Tacoma | rowspan="3" | Washington
! KBKS | 1988 | 1997 | {{Efn|Known as KPRM-FM prior to 1995 and again in 1996, and as KCIN-FM from 1995 to 1996.}} |
| KRPM
| 1995 || 1997 || | |||
| KULL
| 1988 || 1995 || {{Efn|Known as KRPM prior to 1991 and again in 1995.}} | |||
| Charleston–Huntington | West Virginia
! WCHS-TV | 1987 | 1997 | |
| rowspan="3" | Milwaukee | rowspan="3" | Wisconsin
! WAMG | 1994 | 1997 | {{Efn|Known as WEZW prior to 1995.}} |
| WEMP
| 1988 || 1997 || | |||
| WMYX-FM
| 1988 || 1997 || |
{{notelist}}
{{notelist-ua}}
References
{{Reflist}}
{{News Corporation}}
{{SBGI}}
{{Authority control}}
Category:Defunct companies based in Texas
Category:Defunct broadcasting companies of the United States
Category:Defunct mass media companies of the United States
Category:Companies based in Dallas
Category:Entertainment companies established in 1987
Category:Mass media companies established in 1987
Category:Mass media companies disestablished in 1997
Category:Companies disestablished in 1997
Category:Companies formerly listed on NYSE American
Category:Companies formerly listed on the New York Stock Exchange
Category:Sinclair Broadcast Group