ACME Communications - Company Profile

Company Profile

The ownership portfolio of ACME Communications has included television stations generally located in medium-sized US media markets, all of which ACME obtained through acquisitions (save for one station in Knoxville that the company built from the ground up). The station portfolio reached a peak of 11 stations in the early 2000s, at which time ACME also ventured into program production with the 2002 debut of The Daily Buzz, a syndicated daily morning news and information program that reaches 179 markets as of Fall 2012.

During the early 2010s, ACME set forth on cost-cutting efforts and an admitted "exit strategy" involving its assets, including the following:

• A licensing and consulting agreement with Fisher Communications for The Daily Buzz, announced in April 2010, that would see Fisher handle production of Buzz.
• A June 2010 agreement with LIN TV Corporation (with intent to purchase) involving stations in 2 markets where the companies had common ownership (Dayton, and Green Bay-Fox Cities), where the LIN stations would provide operational, administrative, and joint sales services for the ACME stations. At the same time, LIN TV also entered into an agreement to provide some services (including third-party accounting) for ACME's duopoly in Albuquerque.
• A reduction and restructuring of its corporate staff, set forth in July 2010, that would see Jamie Kellner remain as company chairman but Doug Gealy taking over Keller's titles of President and CEO.
• The sale of its Dayton, Green Bay, and Knoxville stations in Spring 2011 and its Madison station in February 2012. ACME has also announced, in September 2012, a proposed sale of its last remaining stations, a duopoly in the Albuquerque market.