ATLANTA -- Executives of the former New Vision Television, which sold its stations to LIN Media last October, intend to start a new TV station group.
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 private equity backers and hedge funds who have an interest or past experience in the media and television sector.
Alchemedia will also seek to develop content for multi-platform distribution, including mobile.
Former executive 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 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.
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