The Commercial Appeal from Memphis, Tennessee • 26

B8 THE COMMERCIAL APPEAL MEMPHIS WEDNESDAY JUNE 14 1995 takfepl mrb VamiM-ft a a a a mf ait a ar a mm a in- ft a mt IN mm imi a a Mg Mf considers stations Ellis Broadcasting Inc bid for Multimedia TV From Our Pimm SmteM scribers In February Multimedia hired Goldman Sachs to consider selling the entire company or its assets to boost its At PC9NRL iMLCftl cc end mm aft- cifli laaMitft a a CITM Hi AAM-H om mm a a a ft cuon aiftHH-a a Tit ia- ii 4naifrM-a LL a Mf ft am iftf ii a a am i at a at it art 7ft-ii iim aTMit-a-fra LaTRM 1ft ii i aiif ft a ft-t-a IMMMtM 1 aft-ft liew a a at UMWa IA 9 Mft LMOACl U1 a Aftf ft UJV AM I Aft a a ait a a lift i M-ii a a it-n a a a ft sagging stock price Shares in Multimc itimedia closed down 31 VIM at i -ft aft- a iftf ft 4 ftfva a lift- ii a ft- ii am an aftf ft a a ma ft a a iiftf ii a a HI Ift-ft a a ma at i a Tft- ft Mv at a a an- ft im a FF i iaifrn-M I 4 an-ft i ft iaa aftf ft i a a ft a 4 it- ii iaa ai i -fa ja raita a i i7i nm lift-ft ta a am fM ihmva a 1 M-ft a a ivaftf ii a a ta a a it- a ii a a- ai a a ft a tb 4Mf Na aaita-t-a a in a a Mf a a it m- a an- ii' a a a ana a a aftf ii a ratta-t-a a it i GG mutmmm mama am it an ft a a a 4ii IT Hft-ft aa inf im afttT-a a a aiif ft a ftanm a a -ft i ta-ta a a ft am hh am aftf ft a Tft-ft a i aft a ft a 4 ii it tut ift-ft iiftf ft 177 Tft-ft mm a ALC nm Aftf ft me i mi JtfCpf 111 IP-1 IMIK I I 1ft- NiFpl IM Mft- ft A MM Iftf ft att fahr mi ACm Mil Aft-ft A Ift- HT 1 -4-H 11 MW- I mifrn-f-n ammm mf mm i mm U111-M 1 Ift-I-H fftH-M tuh-a 2frM-tH a mti-Mf ft mnm ft amci ft 14 iaim ia cents at $416216 Tuesday One group expressing interest consists of NBC publisher Media General Inc and cable company Intermedia Partners which is 20 percent-owned by Tele-Communications Inc A second group includes closely held EUis Broadcasting Inc an Atlanta television and radio company: Charter Communications which owns cable systems and New York investment bank Kelso Co The Wall Street Journal said this In the NBC group NBC would acquire the television stations and syndicated pro- ramming Intermedia would uy the cable systems and Media General would purchase the newspapers Similarly Charter would buy the cable systems Ellis the television stations and Kelso the other assets The stations are attractive to NlBC because four are NBC network affiliates and NBC owns half of the Cleveland station The Macon Ga station is a CBS affiliate Last year Multimedia had earnings before interest taxes depreciation and amortization of $246 million on revenue of $631 million The newspapers had cash flow of $51 million the stations $60 million cable $84 million entertainment $61 million and security systems $9 million A new area news talk lost $8 million -The properties would command cash flow multiples of about eight times for the newspapers eight to nine times for the stations and cable the low single-digits for the syndicated shows wnose popularity is beginning to wane and five to six times for the security operations according to the executive dose to the bidding a af ii a af ii PIAMf ft ia a aftf ft PAM IA mt mSm tifra pma ia an- ft mmm Ht PWNKA 4 Mfft a 4ft-na a ft-t-a A M-ft ar ft-t-a a a tana a a Mf it ia a ii a im a a a tta a ii a lAMTit-atna im ait ia a a tut am a a 4 At pm a a ft Mac pa 11 Aft- ft PMM 4A I PMMi a ami an-ft pmn a amna PhpM mi ift- ft pmm mat At pm a it a a PMvA Aaa ft aia mna 1 7ft a a At- ft pm ami -t-a rwfiyi ia ama pmm anana PWfl 4 4ftf ft amii-a-t-a ft i ft-t-a mf ai Mfit a ift-t-a Aai ift-t-a IA a A IM- ft a at mna ta a a ait i im a a int PM a IA 11 4 ITftf ft PM11 IA a I IM pma ia ii a int pwa ia ii tat pma im a i tat mm ia a i ait mbit in a i tut pma in a a tft- Mm at a a anf ft pma tt a 4 a a mt a anf it a a im- ii a im ai ii-ana i an-it RR aar m-h lain-at a AAMf ft rm aii-af ii a a in in- ii mu in a a im- ii mb a mk ii a if ii mu a a tMf ii Mv a Aii-af anana A riraai-n-na nm i ai mna iait-a-4-a a i ft an-ii i a a 17 A Bft-ft ui imifra-na Rami aa i -na a a inana GREENVILLE SC Ellis Broadcasting Inc which owns WMC-TV Channel and Gen eral NBC lead pibups expected to bid for Multimedia Inc an executive close to the discussions said Tuesday Multimedia owns newspapers and TV stations and produces TV talk shows such as Donahue Sally Jessy Raphael and Rush Limbaugh The Elus and NBC groups expressed interest in Multimedia in response to a letter last Friday from Goldman Sachs Co but neither has done the background work to submit bids the executive said The bids which are expected to top S1S billion are due next Wednesday The $15 billion is a rough estimate of the value of the assets and does not represent an actual bid the executive said Multimedia owns five television stations five radio stations 11 daily newspapers including the flagship News Piedmont of Greenville and 49 nondailies Multimedia also syndicates the talk shows provides security systems to 65000 homes and owns cable systems in the Southeast and Midwest with 446000 sub group offered to pay more than $41 a share for Multimedia as? MM cap am Mfn a tuna i a in-ft Mr A a TA lift- ft aifra mmmppi ta amt mm ta im ait a a a a ii ii 7 a ii a a Mf a a-ii 7m am a am ait in a taa-a hm a a na aaitfra-n Mpi aan-af ii MM 11 A ft mad Aaa ai-ft aar mm ma immi ''V a at kam na ana aita mmmb a i mu mi a at MUvmA AM- ii Mna it a anf a 7i an-n im at ttaiMfft mam amana-fra mm n- wb a a tat mam a a at mm aaitana MM A 11 4 A ft umm a a anf ft MhPpH I yA A flft mm a a at MraI 17 A aft- ft mm a i anf ft Mm a ii tat MNP lit tMd a ii ia ai- ii Micnoa ia ai7f mmhtr ta at im WTMCfl IA AAftf ft MAM a I ft-ft a ft-t-a aif ii a arifrn-t-a a a tat aaa an- Ellis owns 12 TV stations in midsized markets including Memphis Knoxville and Toledo Ohio It was founded in 1993 by Bert Ellis formerly an executive with Turner Broadcasting System Inc Although Multimedia would prefer to sell the entire company to reduce tax payments a bidder is unlikely to buy all of the assets because of federal regulations forbidding crossownership of media properties and the lack of synergy between the different properties nm in a a awi-a ii a Mftf ft 11 lift a afttft a a Nan i a aftfft at Mfft a a a iftf ft a i a bm-h Aim-w a a ia ft aai mf ii a M-t-a aai aft- ft 49i aftfift a ia Tii ii ai? 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an at a a bwm a A ft am Ml 11 ft am ma ft 944 lift-ft ia a in A a A 9Mf ft ss MM From Page B4 Fox ss a i IN 11 ll-l aiWfl-N brnC I ai Mi Hf II Bpl JM 1 1 aaa an- Baldwin to speak Ben Baldwin president and owner of Baldwin Financial Systems Inc will speak at a meeting of the Memphis chapter of the American Society of Chartered Life Underwriters and Chartered Financial Consultants Thursday at the Racquet Club at 5111 Sanderlin He will talk about variable life insurance policies tion not a question of scrimping to do this and that a question of how do we make this a great he said Fox generally adds news programming to its owned stations and more news probably means the station will hire more people Lynch said He said the station currently employs 80-something people In recent years Channel 13 has cut staff It has the smallest news staff of the three stations that currently have newscasts and while its key demographic ratings are improving its early and late newscasts still rank third in overall ratings looking forward to the chance to not just do it as a guerrilla warfare kind of battle but sit there and bring in tanks heavy artillery the aircraft Lynch said the battle the broadcasting business is when working with 22s vs M16s a big battle to NN tativa-na am nma a it aaaii-a a at- ii a a 4 ii ii ia a i aii- mitana ai anf ii a a m-ii ini i a a ft a i a aiif ii a aif ii na a aaa an 7ft-ft BIMaMf ft a iitif ft A AI Iiftf ft a ia niff ft a ai iim it A A IM 00 a a ia iiftf ft 7ft mna Mit-ana 11 Mfft omln iai a a im- OMUpflA 1 Aft-ft Om im- ft omh in i a m-ii PQ acqm a ift-i-a KCIya tmiifft nil A -4-a me tf a iiftf ii pmcct tat a i anf ii PMP IA a lalMfft TN afrna nmrh a a 4 MMa IM lift-ft nmmir a ft nm atiifrana nmm am M-ii nmAb 4 i aiif ft II am a ft im mii-a- apoifliA a- ii MpNf a a anf ii im ima-a a a anf ii hr ta aftf ft Ma aai in atm aai tana acMAa 9 4ft rcn mit-ana mhOi 4Baa-a rcim aina Mpa At 8117 ft MM Tftf II a awima mm a ai MiiOC AT 4 -ft Mi a anf ft a ft aaa tat-ii Trappers to meet Members of the Fur Takers of America the largest 13 and ABC programming such as NYPD Blue Roseanne and Home Improvement will be seen on Channel 24 WHBQ-TV will become the only Memphis station owned and operated by one of the four networks The other stations are owned by other groups which agree to broadcast a particular programming Channel 24 also has a local marketing agreement with WLMT-TV Channel 30 Channel 24 leases time on Channel 30 and in turn programs and sells advertising on the station The owned and operated angle can mean only good news for Channel 13 Lynch said owned by an owned and operated group they have a tendency to make sure a really strong sta EE aa a ift Aa aaa a a a im a a 9 a -ft ta BB 917 a lift a i mf ft a ift-ii a ii iftf ft Ha a a in mm a ftf ii Mr a aaa-i-a ITMl laiMftfft it mi im i an- anm im taaiftf ft itrauma 9 aftf mini mib-ah an ahiii mi ai a i niff ft ivu a ar aftf ft mm i ft-a aM8i aai 17- ft mjm am aftf i a ft a a ft-ft AHKptt I Iftf ft MMpa aaiaa-a MtaNl 9 tft- ft MMK9M 41 Mftf ft Mm 19M ft MM Bllfrttrt-H MCa a it a a Mp a mf ft Mi a ift-t ma a a aftf ma a a aftf ft 9M ft-f-a Ml BIN aftf ft mm at aai iva-t-a a lift-ii icmq a a an auQ a tin- ft mjq a a ini mo a a aiif ft ua im aft-ii mi aai lift- ft mm a aaa aaa 4ifti ia it a an mai a a a ift-ft Mv aaiii-afva nm a am itv mm a it ia a Mp 1J tfllfrlfr- Mi ia aiif ii a a iftf ii Mm ai1MHN trapping organization will hold their national convention June 22-25 at the Obion County Fairgrounds in Union City Tenn Nationally known speakers will give demonstrations of predator calling archery wila herbs and trapping Buyers and manufacturers from many segments of the outdoor recreation field will attend a i a a a im- a a tMf it a a a a a A Iiftf ft ww i am ait aim M-t-a it a Tianfft i a ama a ta M-ii ta i mft- ta a ai iiftf A Ift- ai tt A Iftf ft aai aaa anf mna-t-a ia anf ii Wfluu I Iftri-H I Mt JJ ai i at a him-ii Tana- ii a a ta a a ma ii a tuna nr a anf a -ana i ai a a in a ift a NTfrA 444 jfc-ft a a af ft a a a tin a aaa Ml 1 fMI i ta ift- a hi in a aar an- i IN Iiftf ft wif ft ia a ia a Mf ft ia aiiahm i a aiif ami anf a ii in- ft a an aar aii- mow ami II X4 as? 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NTM m1 IfM I kNNNtJI i iiu njt ii HI I MM 1T17 ITAf A BBAAf A aa Nif a Ml UN A Ml NLf A HA HJPf A nm Nif a HHHAf A na nf a mi am a nu am a UAttma an am a aa am a naamA na nm a nnnitt a MMMNt TN TJtN improving life insurance service through professional and personal development Only 6 percent of all agents earn a' seat at the Million Dollar Round Table eople just give their trust away It has to be earned Year after year Family after family exactly what Bill Tait LUTCFRHU is doing Mil Mitt ftKTMp 1711 Itilf A MTAI ITa NLf A ha nm a mi am a ta ima Wi TA TJA A All TA NLf A SSI I MHMNt1l I UN 11Mt J1 II MNMN-JM I tMTIUTtM i nn tint jt I MN MNtN tm MM Mt IM I I MM MW I MMMNt I ITM 17JL- 41 I Mil MIH HA HAf ItTI HAf 11 I 11A NLf 11 I HA NLf A a MA HAf A Ml MA NLf 17 MAHAf 17 HAMAf A na nf a 'mSauatn rnnmmm mmmmm atiratiTfiA aurmjma 17IA17UIHA MIAMftAf A nf iia am a tut nf A ui nm a aaama ba am a na nf a a nm a an am a HAHTtf a aa am a 1147 tta-A ha am a na nf a naamA iia am a na nf a 9m IIA NL- IH NL- Bill was awarded the Trophy as the top personal producer in the company He is also a 19-year member of the Million Dollar Round Table UN MNt I ITM ITMt IT MN I (MTIMNN HGI I MN MNt IM I MN MNt NnCi MCI MM MNt HUI MM MM- UCp UI 14HN Bill is a general agent for Commonwealth Life Insurance Company If looking for sound advice on your insurance needs give him a chance to earn your trust Give him a call today IA NL-H 4J7 A HA NL IA NLf A HA NL-H ST na na 11A MA aa na itii tIA 11A na nm a naamA naamA na nm a aanm a mi tm a na nm a iia nm a aa am a aanma Hiram a naamA AAita tin am nm nf a a UhGa UMM UMn 5 Bill Tait LUTCF RHU General Agent MO Mi nf a nf a nf it nf a nf a nf a nf a nf nf nf nf a nf a nf a nf nf a nu it nf a n-a nf a nf a nf a nf nf a nf a nf a NMIPA NO IP A The Million Dollar Round Table is an international association of over 19000 life insurance professionals dedicated to BUI Tait LUTCFRHU 5087 Millbranch Rd 396-0051 MAHAf 11 HA HAf A A HAMAf 11 MAHAf 11 HA HAf A MAHAf A HA HAf 11 11A na 11A COMMONWEALTH INSURANCE aaama 17A trm a IA IA-A S3 na nTt naamA a imii i aa htUi HM 11 I HM NL 17 IH NL JI A PROVIDIAN Company M71 Hf a MA Hf a ftpP.