New Vision Television

Company type	Private
Industry	Broadcast and Digital
Founded	1993
Defunct	October 12, 2012 (2012-10-12)
Fate	Acquired byLIN TV Corp.
Successor	LIN Media Media General Nexstar Media Group
Headquarters	Los Angeles, California , United States
Key people	Jason Elkin Chairman / CEO
Services	Television stations,Digital media
Number of employees	1550

New Vision Television was a broadcast company based inLos Angeles, California. Throughout its two decade plus history, the company owned or managed over 20 television stations in large and medium-sized markets.

Formed by Jason Elkin in 1993 inAtlanta, Georgia, New Vision Television began its ownership in local television by acquiring theNews-Press & Gazette Company's stations in December 1993 for $110 million. The deal included television stations inJackson, Mississippi (WJTV, including semi-satelliteWHLT inHattiesburg);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 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 ownedKSBY inSanta Barbara, California;KVII-TV inAmarillo, Texas;WISE-TV inFort Wayne, Indiana; andKDLH inDuluth, Minnesota. In 2005, New Vision II sold all of its stations at the time toCordillera Communications,Barrington Broadcasting, andGranite Broadcasting.

New Vision III was a restart of the company with new stations. On August 1, 2006, New Vision announced an agreement to acquireCBS affiliatesWIAT inBirmingham, Alabama; andKIMT inMason City, Iowa, from Media General for $35 million. The acquisition was finalized on October 12 of that year.^[1][2] On November 15, New Vision announced an agreement to acquire CBS affiliateWKBN-TV and sisterFox affiliateWYFX-LP inYoungstown, Ohio, for undisclosed terms, and signed ashared services agreement to operate YoungstownABC affiliateWYTV for owner Parkin Broadcasting (later named PBC Broadcasting). New Vision subsequently launched theMy Valley branding for several services offered by WKBN, WYFX, and WYTV. In September 2007, New Vision acquired Savannah, Georgia, ABC affiliateWJCL fromPiedmont Television; in November, it acquired all of the assets ofMontecito Broadcasting:KOIN inPortland, Oregon;KHON-TV inHonolulu, Hawaii, and satellites;KSNW inWichita, Kansas, and satellites; and (in a related stock transaction)KSNT inTopeka, Kansas. In 2008, New Vision boughtKTMJ-CA and repeaters in Topeka (co-managed with KSNT) and announced plans to convertKBNZ-LD inBend, Oregon (which has since been sold), from a translator of KOIN to its own station.^[3]

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.^[4]

On May 7, 2012,LIN Media acquired the 13 television stations owned by New Vision Television.^[5] 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 toVaughan Media as part of the deal).^[6] TheFCC 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 toNexstar Media Group in 2017.^[7]

• Stations are arranged in alphabetical order by state andcity of license.

• Investment information

• Nexstar Media Group
• Mass media companies established in 1993
• Mass media companies disestablished in 2012
• Defunct television broadcasting companies of the United States
• Companies that filed for Chapter 11 bankruptcy in 2009
• 2012 mergers and acquisitions
• Defunct companies based in Greater Los Angeles

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