Waterman Broadcasting announces sale of TV news station NBC2 in Fort Myers
A well-known local TV news station will soon have a new owner.
As long as regulators approve.
Waterman Broadcasting Corp. announced Wednesday that it has entered into an agreement to sell WBBH-TV, better known as NBC2, in Fort Myers.
The station has operated for decades, promising its faithful listeners they can "Count on NBC2" for all their news and weather coverage in Southwest Florida, from Marco Island to Punta Gorda.
The buyer is Hearst Television.
With the transfer of ownership, Hearst would also assume a "programming relationship" with Montclair Communications Inc., owner of WZVN-TV, or ABC7, another long-time news station in Southwest Florida.
In a statement, Steve Pontius, Waterman's executive vice president and general manager, stated: "Southwest Florida viewers have known for decades that they can 'Count on NBC2.' I am confident that Hearst is the best television broadcaster in America to continue that commitment.”
Terms of the deal were not disclosed, with the announcement.
According to a filing with the Federal Communications Commission, the "base purchase price" is $220,540,000, which could go up or down, based on three conditions.
The sale is expected to close in the third quarter, subject to regulatory approval.
The acquisition of NBC2 will expand Hearst’s presence in Florida.
The U.S. media conglomerate owns NBC and CW affiliates in Orlando, as well as an ABC affiliate that serves West Palm Beach, and an independent station in the Tampa-St. Petersburg market.
In all, Hearst Television owns and operates 33 television and two radio stations, serving 26 media markets across 39 states, reaching nearly one out of every five households in the U.S.
NBC2 and ABC7 provide separate and distinctive news coverage in Southwest Florida.
According to a post on the NBC2 website, the two stations combined offer more than 85 hours of local news weekly.
The stations have earned multiple journalism and service awards for their coverage and involvement in their local communities. Between them, they've earned three prestigious Edward R. Murrow Awards in 2022 from the Radio Television Digital News Association.
“This transaction provides an excellent strategic fit for our company and underscores our commitment to local television broadcasting and to leadership in our television markets across the country,” stated Steven Swartz, president and CEO of Hearst.
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Waterman Broadcasting has served the Fort Myers-Naples market with "distinction" since 1979, Jordan Wertlieb, president of Hearst Television, commented.
"Of course, both stations provided important lifesaving coverage during Hurricane Ian and have been providing information and updates as the area recovers and rebuilds. We are proud to have been selected to continue the legacy of such distinguished broadcasters,” he said.
Edith Waterman, president of Waterman Broadcasting, described the sale as both "challenging and emotional."
"We have had the great privilege of proudly serving Southwest Florida for more than four decades. Broadcasting has filled our lives with wonderful relationships and deep ties to our communities. I am so grateful to all the talented and dedicated employees who made our innovative stations pillars of their communities and great places to work and grow over the last 67 years," she said.
Waterman Broadcasting was founded in 1956 by Edith and Bernard Waterman, with the purchase of their first radio station, WAAB-AM, in Worcester, Massachusetts. Their enterprise grew from there, with the addition of more radio and TV stations.
Bernard died in 2017. He's remembered as a television news pioneer, with a passion for journalism, mentorship and entrepreneurship.
Michael Hayes, Hearst Television's chief operating officer, said his company has long admired the "consistent commitment to excellence in both news and community service" at the two local stations.
"These are the twin pillars of success in local television and are core tenets of Hearst,” he said. “We look forward to upholding that tradition in the rapidly growing Southwest Florida region.”
The Fort Myers-Naples market ranks the 55th largest television market in the United States.
NBC2 went on the air in December 1968 as the market’s NBC affiliate. The Watermans purchased it in the late 1970s.
The station began a programming relationship with what's now known as ABC7 in 1994.
The Watermans became Sanibel residents in the early 1990s.
This article originally appeared on Naples Daily News: NBC2 TV station in Fort Myers to be sold to Hearst Television
