New Vision Executives on the Hunt for TV Stations
ATLANTA -- Executives of the former New Vision Television,
which sold its stations to LIN Media last October, intend to start a new TV station
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 private equity backers and hedge funds who have an interest or past
experience in the media and television sector.
also seek to develop content for multi-platform distribution, including mobile.
team members at New Vision who will be joining Alchemedia include Eric
Simontis, chief financial officer, Steve Spendlove, executive vice president of
Broadcasting, Dennis Elkin, senior vice president of New Media and Mobile TV,
and other members of the former New Vision corporate employee group based in
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
Alchemedia will be headquartered in the Atlanta area, where
members of the team conducted day-to-day management of New Vision Television.