Advertisement
YOU ARE HERE: LAT HomeCollections

Company Town | Deals

MCA to Buy Syndicator of 'Sally,' 'Jerry' Shows

November 26, 1996|SALLIE HOFMEISTER

MCA Inc. has agreed to acquire Multimedia Entertainment, a syndicator of talk shows including "Sally Jessy Raphael" and "Jerry Springer" from Gannett Broadcasting for an undisclosed price that industry analysts estimate at less than $50 million. The purchase is designed to shore up MCA's weakness in the first-run syndication market, where the company has distinguished itself with weekly one-hour dramas "Hercules: The Legendary Journeys" and "Xena: Warrior Princess," but lacks a daily show. "This makes us a major player in daytime television," said Greg Meidel, chairman of MCA Television Group. "We are buying valuable real estate. If you look at the cost of development, just one of these shows could cost $15 million, and with only three bona fide hits in the last six years and 25 or so others that have come and gone, the cost of failure is prohibitive." Gannett is seeking to concentrate on newspapers and its 26 TV and radio stations.

Advertisement
Los Angeles Times Articles
|
|
|