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sales@spotsndots.com Copyright 2017.The Daily News of TV Sales Monday, March 27, 2017

DEALERSHIP SALES EXPECTED TO INCREASE“GENERATIONAL SHIFTS” IN DEALERS Buying and selling of automotive dealerships is expected to increase this year after last year’s transactions were fewer than had been concluded in 2015. Last year, as dealers were riding high in the second year of all-time highs for sales of new vehicles, some dealers were looking for “crazy” prices to sell their stores, but Erin Kerrigan, the head of buy-sell advisory firm Kerrigan Advisors says, “Buyers are finding pricing more reasonable in part because today’s sellers are serious about a sale.” Alan Haig, the president of Haig Partners concurs with that opinion, adding “Financing is still readily available, and many sellers are realizing that if they want to sell their dealerships before the next recession, they will likely need to accept today’s offer since tomorrow’s offer is likely to be lower.” Kerrigan sees more potential sellers coming to market because of “generational shifts underway in auto retail and the aging of the U.S. dealer network.” She adds “Buyers are finding pricing more reasonable in part because today’s sellers are serious about a sale. The market testers who were seeking crazy prices and didn’t get them have stepped away.” Stores with franchises for domestic brands are hot right now—although 2016 was a down year for total transactions, domestic brands accounted for 44% of buy-sell deals last year, up from just 31% the year before. Deals for import non-luxury brands were 37% of transactions (down from 48% in 2015) and deals for import luxury dealerships dropped slightly from 21% to 19%. Potential buyers are most interested in getting dealerships with truck-heavy lineups like Ford and Chevrolet. Domestic brand stores typically sell for lower multiples than luxury brand stores, and they appeal to “nontraditional buyers” such as private equity funds, according to Automotive News. Kerrigan said buyer demand is particularly evident right now for Ford, Chevrolet, Toyota, Honda, and Subaru stores, which have current lineups weighted towards crossovers, SUVs, and pickups. “Blue sky” is the term in automotive circles for the intangible value of a dealership, usually expressed as a multiple of adjusted pretax profit. Those multiples are generally near all-time peak levels, although blue sky for premium luxury franchises have started to decline due to flat sales and erosion of margins. Although Mercedes and Lexus stores still command top blue sky multiples, estimates for the value of those stores have been eroding. One manufacturer whose franchises are not in demand right now is Fiat Chrysler. Kerrigan is negative on FCA franchises due to the factory’s stated desire to add about 400 more dealerships, its “weak product future,” and declining sales.

ADVERTISER NEWS Ford is warning of lower profits ahead, with factors such as higher engineering costs, rising warranty expenses and higher costs of some raw materials piling on top of flat sales and a decline in residual values of used vehicles. Increases in interest rates from the Federal Reserve System will also make it harder to offer low-priced leases and cheap or 0% long-term loans, adding to its cautious outlook……Checkers Drive-In Restaurants, which includes the Rally’s banner and operates 844 units in 29 states, is being acquired by Oak Hill Capital Partners

for $525 million. The chain has been on a roll with same-store sales up 3% last year and plus 3.5% so far this year. It currently has another 130 units in the pipeline with commitments for another 120 after that. Dave & Buster’s is part of Oak Hill’s investments, along with Burger King franchises in Puerto Rico…..The recent spate of bankruptcies and closings have so far missed the supermarket business, but Progressive

Grocer says Indianapolis-based Marsh Supermarkets has already closed two stores with apparent plans to close more, and a report in the Indiana Business Journal says Marsh hasn’t paid rent on some locations since last fall. Sun Capital Partners took over Marsh a decade ago when it had about 120 stores and has shrunk the chain to less than 70 now……Des Moines-based supermarket chain Hy-Vee, which started testing clothing boutiques in a couple of stores last year, is rolling out the concept to more units. Hy-Vee teams with F&F, a British label said to be priced comparably to Old Navy……Five Below same-store sales were up just 1%, but that was the eleventh straight quarter of positives for the teen-oriented chain. It opened 85 net new stores last year with plans for 100 this year, including its first locations in California……After a football season in which Bud Light cans carried the logo of NFL teams, Budweiser is introducing cans with unique designs from local artists for Major League Baseball teams in fourteen markets. The special cans are available starting today……Rogers & Hollands, the largest family-owned jewelry chain, is opening a couple of discount-oriented Rogers & Holland Outlet stores in the Chicago market, which will carry different merchandise from the chain’s current stores. Including the Ashcroft & Oak Jewelers banner, Rogers operates 81 stores in ten states……Sportsman’s Warehouse same-store sales were down 5.2% in the quarter that ended on 1/28, completing a fiscal year with a much smaller 0.7% drop. The chain added 11 new stores in the fiscal year to reach 75 in 20 states and will add another dozen this year.

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NETWORK NEWS CBS has announced Eliza Dushku will join the cast of its primetime series Bull. Dusku will play the head of a top criminal defense firm, who is hired by Dr. Jason Bull (Michael Weatherly) when a member of his Trial Analysis Corporation faces prison time. Bull was renewed for a second season by the network last week……Mario Lopez (Extra, Saved by the Bell) has been selected as host of the new Candy Crush game show on CBS. The show is based on the popular mobile-game franchise by the same name, and is set to debut on the network on July 9th……The Sweet 16 won the night for CBS last Thursday as March Madness continues. The Michigan-Oregon game posted a 2.3 Nielsen rating in the 18-49 demo with an average audience of 7.77 million. The Kansas-Purdue game pulled a 1.6 demo rating and 5.51 million total viewers……Marco de la O has been cast in the title role for Univision’s El Chapo, the story of the infamous drug lord and prison escapee Joaquin “El Chapo” Guzman. The series will cover the three-decade span of Guzman’s drug trafficking career, from 1985, when he was a low-level member of the Guadalajara Cartel, to his ultimate downfall. El Chapo will premiere in the U.S. on Univision on April 23rd……Leah Remini will partner up with former TV husband Kevin James for the two-part season finale of Kevin Can Wait. Remini and James starred together for nine seasons in the hit CBS series The King of Queens. The season finale will air part one on May 1st and part two on May 8th. Kevin Can Wait was recently renewed for a second season by CBS……Ryan Michelle Bathe (This Is Us) has been cast opposite Lauren Graham in the Fox single-camera comedy pilot Linda From HR. Bathe will replace Angel Laketa Moore who was originally cast in the role of Sierra, the mother of young triplets that offers support to Graham’s character, Linda Plugh……Sharon Lawrence (Shameless, One Tree Hill, NYPD Blue) has been cast opposite John Larroquette in the CBS comedy pilot Me, Myself and I. Lawrence will play Eleanor, the owner of a diner and the unrequited love of Larroquette’s character, Alex. Bobby Moynihan from Saturday Night Live also stars in the pilot……The season two finale of Blindspot will feature Mary Stuart Masterson (Some Kind of Wonderful, Benny & June) in a guest starring role as a high-ranking FBI official. Masterson recently reprised her NCIS role as Congresswoman Jenna Fleming. She has also had recurring roles on Mercy and Law & Order as well as guest spots on Blue Bloods and The Good Wife.

FORECAST: MORE SPENDING THIS EASTER The National Retail Federation is predicting record spending for the upcoming Easter holiday. The group attributes the sizable gain to an especially late Easter. The NRF predicts Americans will spend $18.4 billion, a 6% increase from last year’s $17.3 billion. That’s about $152 per person — a 4% gain from $146. And that marks the highest level since the NRF started tracking Easter spending 14 years ago. About $5.8 billion will be spent for food. $2.6 billion will be spent on candy.

AVAILS Digital Account Developer: WDIV, The NBC affiliate in Detroit seeks a person who can expedite our digital agency services penetration among our current top clientele. This person easily and effectively earns the right to partner with other seasoned sales people thereby leveraging their existing relationships in an effective and responsible way to unlock new digital opportunities for the station and client alike. This is an up-selling/cross-selling role for a highly branded entity in Detroit. We want record breakers! Resume to: jpontz@wdiv.com. EOE.

The New England Sports Network is searching for an Account Executive. This position requires a team oriented, aggressive, creative sales professional adept at growing existing accounts while developing new business utilizing NESN’s and NESN.com’s unique brand position. This position actively manages the sales cycle including mining existing accounts for new opportunities, developing new relationships, negotiating contracts and

closing business by expanding existing services, cross selling, and/or adding new services. CLICK HERE for more info or to apply now. EOE. WJZY & WMYT, the FOX owned duopoly in Charlotte, NC is looking for a Senior Account Executive. The senior AE will help local and regional advertisers achieve their business objectives through effective TV and digital advertising. Responsible for growing revenue and share from new and existing accounts through effective selling techniques. Television sales experience is required. College degree is strongly preferred. Other related duties as assigned. CLICK HERE for more info or to apply now. EOE/M/F/V/D FOX Richmond seeks a dynamic Marketing Consultant who is an enthusiastic, accountable individual with drive to join our growing team. The successful candidate will need to possess the ability to thrive in a fast paced, competitive, multi-media environment. We’re looking for a creative person to generate revenue by prospecting and selling television and a variety of digital opportunities. Responsible for attracting new clients, proposal preparation and presentations, as well as, maximizing revenue on existing account list. CLICK HERE for more info or to apply. EOE

DONE DEALS Nexstar Media Group has named Carol Ward as Vice President and General Manager of WAVY (NBC), WVBT (FOX) and associated digital platforms serving the Norfolk-Portsmouth-Newport News market (DMA 42). She replaces Doug Davis, who was recently promoted to SVP and regional manager for Nexstar Media Group. Ward has been serving as the stations’ sales director for the last five years. Prior to that, she was general sales manager at KIRO in Seattle-Tacoma. Ward has also worked in Raleigh-Durham, Tampa, Atlanta and Denver. 3/27/2017

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The Daily News of TV Sales @ www.spotsndots.com PAGE 3

CORD-CUTTING: EXAGGERATED??? This may be a surprise given all the attention “cord-cutting” has received: The eleventh annual Digital Democracy Study by Deloitte says the percentage of American households subscribing to pay TV services has remained relatively stable in the last five years even as streaming and OTT alternatives have grown. The study found that while customers who buy at least one streaming service has grown from 10% to 49% in the last eight years, the percentage with TV subscriptions has held steady with 74% having had subscriptions last year. A large part of the reason for the lack of erosion is bundling, because many viewers have internet service tied in with TV subscriptions. Deloitte Vice Chairman Kevin Wescott commented, “We’ve really not seen much in the way of cord cutting. There is some, but consumers who do have these bundled services—internet access is now like any other utility. If they have bundled service, they’re much less likely to cut the cord.” BUSINESS BYTES Service, Parts & Body Shop operations are off to a strong start for automotive dealerships this year, according to data from the National Automobile Dealers Association for January. The NADA says at the average dealership those operations brought in $602,428 for the month, 6.5% more than in January of 2016, with warranty business accounting for 19.0% of the money, up from 17.9% a year ago. Operations accounted for just 13.3% of the dealerships’ total sales (up very slightly from 12.9% in January, 2016), but produced more than half the entire dealership’s gross—51.1%, up from 48.4% last January....We reported last week that sales of new homes were strong, but with supply of existing homes tight, deals for previously owned homes fell by 3.7% in February to a seasonally-adjusted annual rate of 5.48 million. In a supply-and-demand world, low supply pushed up prices and February’s numbers bear that out: Inventory of existing homes for sale was 6.4% less than in February, 2016 and the median sales price for the month was 7.7% higher than last year at $228,400. “We just don’t have enough inventory to satisfy all the buying interest,” the Chief Economist at the National Association of Realtors said. BUYING GROUPS SEE OPPORTUNITIES With hundreds of department stores and other big boxes closing, independent dealers face much less competition these days. Buying groups such as the Nationwide Marketing Group, which held a buying fair last week, are encouraging members to stock up and seize the opportunity to fill the void. Nationwide’s membership of independent appliance, technology and furniture dealers account for more than 10,000 stores and do $15 billion in sales. “The big-box channel is in a state of chaos,” Nationwide Chief Commercial Officer Jeff Knock said. “We have been preparing for this through our “Prepare For Share” program. Sears, hhgregg, Staples—the opportunities for our membership continue to grow. We consider this a call to action.”

AVAILS Account Executive: NBC 6 in Miami - Ft. Lauderdale has a great opportunity to join our local sales staff. This position is responsible for achieving NBC 6, COZI TV, New Business and Digital Platform sales goals. Responsibilities include developing and servicing advertising and marketing campaigns with local agencies and direct business, with an emphasis on the development of New Business and Digital revenue.

Previous media sales experience in broadcast, cable, radio, print or digital sales required. CLICK HERE for more info or to apply. WISC-TV in beautiful Madison, WI, is aggressively searching for a Traffic Coordinator to join our advertising support team. This position is responsible for ensuring the accurate input of television advertising campaigns, through log editing duties, order processing, and inventory management, maximizing revenue for both the company and our

clients. It also serves as the primary back up for copy and for the Traffic Manager.Send resume and salary requirements to hr@wisctv.com. For more information, visit www.channel3000.com. EOE.

RETRANS WATCH Raycom Media said Sunday it has settled its dispute with AT&T U-Verse, which will now restore Raycom Media stations to the AT&T U-Verse lineup in 23 local markets. “We apologize to our viewers for this inconvenience, and appreciate their patience during the impasse,” said Raycom Media President and CEO Pat LaPlatney. Meanwhile, the Hearst-DISH standoff continues. Hearst TV stations in 26 markets remain unavailable to DISH subscribers as the dispute that started over three weeks ago continues. In an effort to advance negotiations with DISH Network and return programming to DISH subscribers, Hearst has begun radio and newspaper campaigns in select markets -- with plans to roll out radio advertising in additional markets -- and has launched a “countdown clock” on its stations’ websites to track the duration of its impasse with DISH. Hearst recently warned of a “long-term impasse” in the Dish Network dispute.

3/27/2017

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