Warren Buffett’s Only TV Station Losses ABC Affiliation as Disney Finds New Miami Partner

The Oracle of Omaha Warren Buffett is Parting Ways with Disney at His Conglomerate’s Only Local TV Station.

Disney said Thursday that wplg, the south florida tv station Owned by Berkshire hathaway for the last 11 years, wold be losing it abc affiliation later. Disney Says that It is Partnering with Sunbeam Television Group to Launch A New Home for ABC, Called ABC Miami.

Disney Says that ABC Programming Will Continue on WPLG UNTIL AUG. 4, after whoh point it will move to abc miami at Channel 7.2. Sources Say that agroment for the affiliation deal ended at the end of the year, and despite Continued Talks, the Two Sides Were Unable to Come to Terms on A Deal.

“Broadcast Television Stations Across The Country Have AnnounCed Massive Layoffs in Recent Years,“ WPLG CEO & President Er Bert Medina Told Staff in A Meeting Thursday, Perr. “WPLG IS PROOUD WE’VE NOT HAD LAYOFFS, Buting IT BECAME CLEAR THAT IF WE ACCEPTED THE DEAL ABC WAS PROPOSING, WE TOO Wuld Have Been Been Forced to Lay Off Employe Demanding. ”

Medina Said that wplg Will Institute Double Down on Local Programming.

Disney, Meanwhile, Is Happy to Have Found a New Partner in Sunbeam, WHICH OWNS AND OPERATES WSVN-TV IN MIAMI-FORT LAUDERDALE, FL, FL, AS WELL ASH-WH-WH-WHTV.

“We are incredibly excited to join forces k Abc’s esteamed Brand and the Significant Investments We’re Making to Our World-Class Network Content, ”SAID Susi D’Ambra Coplan, Senior Vp of Affilite Relations. “We would also to thank Berkshire hathaway media and everyone at wplg local 10 for their partnership-we are are Very Proud to have Broughti. Mutual Viewers Over The Years. ”

“WHEN The OPPORTUNITY TO AFFILITA WITH ABC BECAME AVAILABLE, WE KNEW THAT OUR Combined Resources Wound Allows Us to Develop anx Television corporation. “Sunbeam Television Corporation Has A Proven Track Record As A Competitive Broadcaster. Adding ABC Programming to Our Station ‘ Been Embedded in this Community for Nearly 70 Years, with A Commitment to Local News and Supporting Non-Profit Organizations Across South Florida. ”

The end of the affiliation of agroment Marks the end of an era for wplg, WHICH HAS BEEN MIMI AND SOUTH FLORIDA’S’S ABC AFFILIATE STATION ON CHANNEL 10 FOR DECADES. The Station Has A Long and Complicated History, and Was Owned For Much of It Existence by The Washington Post and the Graham Family. After the Grahams Sold the Post to Amazon’s Jeff Bezos, Their Non-Post Assets Were Merged Into A New Company, and They Later Sold Wplg to Buffett’s Berkshire in 2014.

BUFFETT IS NOT A MEDIA MOGUL, AND BERKSHIRE HATHAWAY IS NOT A MEDIA COMPANY, THOUGH IT HAS DABBLED IN THE BUSINESS OVER THE YEARS. It used to Own and Operate A Number of Regional Newspapers, Including The Omaha World-Gerald an Buffalo Newsbefore offloading thoss in 2020 to lee enterprises.

And Buffett Holds and Has Held a Number of Media Stocks, Including Charter Communications and Siriusxm. Berkshire Also Acquire and Subsequently Sold A Large Stake in Paramount Global, Taking A Huge Loss.