New Vision Television Managers Announce New Local Television Venture ALCHEMEDIA TV HOLDINGS TO BEGIN EFFORTS TO ASSEMBLE LOCAL TELEVISION STATION GROUP IN LARGE AND MEDIUM SIZED AMERICAN MARKETS
ATLANTA, Jan. 3, 2013 /PRNewswire/ -- Members of the management team for New Vision Television, which completed a sale of all TV assets to LIN Media on October 12, 2012, announced a new local television venture today.
John Heinen, formerly New Vision's President and Chief Operating Officer, has formed a new media holding Company, Alchemedia, LLC, which will also include Alchemedia TV Holdings. Alchemedia will seek to assemble a new group of TV stations in large and medium-sized markets across the U.S. Alchemedia is now in talks with both private equity backers and hedge funds who have an current interest or past experience in the media and television sector.
Alchemedia will also seek to develop content for multi-platform distribution to enhance the expansion and effectiveness of local TV revenue opportunities for broadcast and mobile.
Former executive team members at New Vision who will be joining Alchemedia are Eric Simontis, Chief Financial Officer, Steve Spendlove, Executive Vice President, Broadcasting, Dennis Elkin, Senior Vice President, New Media and Mobile TV, and other members of the former New Vision corporate employee group based in Atlanta.
Alchemedia and the its affiliated companies under the aggregated brand expects to begin actively pursuing asset sale opportunities in television during the next several months, as it seeks formalized financial partnerships and investors.
The Alchemedia management team represents more than 80 years of combined broadcast and media management experience, having been involved in operating over 100 television stations for three decades.
"We are excited about the future of television and local television," said John Heinen, Alchemedia CEO. "Broadcast television is coming off an extremely strong revenue year in 2012 and remains an essential part of the marketing scheme for successful products and services providers, especially in local communities. Local television continues to provide the best source of in-depth local news and information that is not duplicated by national networks or national cable offerings. With the advent of mobile TV and the expansion of video on mobile devices and more and more portals, local content is entering another round of value expansion that we hope to monetize in the next few years."
Alchemedia will be headquartered in the Atlanta area, where members of the team conducted day-to-day management of New Vision Television.
About New Vision Television, LLC
Operating from corporate offices in Atlanta and Los Angeles, New Vision and its predecessor companies, has in the past owned or operated more than 30 television stations across the country since the inception of New Vision Television in 1993.
John Heinen, Chairman & CEO
Eric Simontis, CFO
Steve Spendlove, EVP, Broadcasting
SOURCE New Vision Television