Denver television station KMGH-Channel 7 is for sale along with the rest of McGraw-Hill’s TV properties nationally.
The textbook company, now known mainly for its Standard & Poor’s financial data, is getting out of the broadcasting business.
The company’s flagship station in Denver, which bears the initials of owner McGraw-Hill, is known for winning prestigious journalism awards but perennially lagging in the Nielsens. (True to form, KMGH won an Edward R. Murrow Award from the Radio-Television Digital News Association the same day the sale was announced.)
Tuesday’s announcement said McGraw-Hill has retained Morgan Stanley to pursue the divestiture of its broadcasting group.
McGraw-Hill’s four stations “are in desirable markets and should be attractive to strategic and financial buyers with a focus on media,” said the company. There is no known buyer; analysts expect any transaction could take six months to a year.
The group had revenues of almost $100 million in 2010.
That $100 million is reportedly just over 1 percent of McGraw-Hill’s overall corporate revenues.
On Tuesday, KMGH staffers, as well as McGraw-Hill president Darrell Brown in San Diego, formerly general manager of KMGH, declined to speak on the record.
Privately, some analysts expressed concern. The worst- case scenario, they said, would be a takeover by an investment firm with no broadcast experience; the best case would be purchase by an established TV group owner such as ABC Disney.
Want to buy a TV station?
McGraw-Hill television stations on the market:
• KMGH, Denver (ABC)
• KGTV, San Diego (ABC)
• KERO, Bakersfield, Calif. (ABC)
• WRTV, Indianapolis (ABC)
• Also: Azteca America affiliates in Denver, Fort Collins, Colorado Springs, San Diego and Bakersfield
