Bonten Media Group: A History of US Broadcast Television Ownership
The landscape of American broadcast television is often shaped by the strategic acquisition and consolidation of local stations. One such entity that played a role in this dynamic was the Bonten Media Group, a New York City-based private limited liability company that managed a portfolio of television stations across the United States.
Founded in November 2006, Bonten Media Group was established through the partnership of Randall D. Bongarten and Diamond Castle Holdings. Headquartered in the iconic Empire State Building in New York, the company focused on expanding its footprint in the broadcast television industry through targeted acquisitions and service agreements.
Growth and Station Acquisitions
Bonten Media Group began its operational expansion shortly after its inception. On May 31, 2007, the company made its first major move by acquiring 14 stations from Bluestone Television. Bluestone Television had previously been founded by Sandy DiPasquale and Providence Equity Partners, who later formed Newport Television, and had originally acquired those same stations from Lamco Communications in 2004.
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The company continued to grow its influence through strategic partnerships. On January 1, 2008, Bonten entered into a service agreement with Esteem Broadcasting. This agreement allowed Bonten to provide services to Fox affiliates WFXI and WYDO in the Greenville-New Bern market, as well as WEMT in the Tri-Cities area spanning Northeastern Tennessee and Southwestern Virginia. These additions increased the total number of stations owned or serviced by Bonten Media Group to 16.
The Acquisition by Sinclair Broadcast Group
The operational life of Bonten Media Group came to a close in 2017 following a significant shift in regulatory environments. On April 21, 2017, the Sinclair Broadcast Group announced its intention to purchase Bonten's stations for $240 million.
This transaction was made possible by the reinstatement of the UHF discount. The UHF discount is a regulatory mechanism that reduces the calculated national "reach" of a television station for ownership limit purposes if that station broadcasts on a Ultra High Frequency (UHF) channel, allowing companies to acquire more stations without exceeding federal limits.
The sale received official approval on June 30, 2017, and was finalized on September 1, 2017, at which point Sinclair Broadcast Group became the successor to Bonten Media Group.
Key Facts
- Founded: November 2006 by Randall D. Bongarten and Diamond Castle Holdings.
- Headquarters: Empire State Building, New York, NY.
- Peak Portfolio: 16 stations owned or serviced.
- Major Acquisition: Purchased 14 stations from Bluestone Television in 2007.
- Exit: Acquired by Sinclair Broadcast Group on September 1, 2017.
- Sale Price: $240 million.
Company Overview Summary
| Attribute | Details |
|---|---|
| Company Type | Private Limited Liability Company |
| Industry | Broadcast Television |
| Parent Company | Diamond Castle Holdings |
| Predecessor | Bluestone Television (14 stations) |
| Successor | Sinclair Broadcast Group |
| Operational Period | November 2006 – September 1, 2017 |
Frequently Asked Questions
Who founded Bonten Media Group?
Bonten Media Group was founded in November 2006 by Randall D. Bongarten and Diamond Castle Holdings.
How many stations did Bonten Media Group manage at its peak?
The company owned or provided services to a total of 16 stations after entering an agreement with Esteem Broadcasting in 2008.
What was the UHF discount and why was it important?
The UHF discount is a rule that reduces the calculated national reach of stations broadcasting on UHF channels. Its reinstatement allowed Sinclair Broadcast Group to acquire Bonten's stations without violating national ownership limits.
How much did Sinclair Broadcast Group pay for Bonten's stations?
Sinclair Broadcast Group purchased the stations for $240 million.
When did Bonten Media Group cease to exist?
The company became defunct on September 1, 2017, following its acquisition by Sinclair Broadcast Group.