Waller Capital Advises Smith Media on Sale of New York Broadcasting Assets to Heartland Media

New York – March 21, 2014Waller Capital, a leading independent investment bank and advisory firm, today announced it has served as the exclusive financial advisor to Smith Media on the sale of its television broadcasting stations in Utica, NY to Heartland Media.

Smith’s Utica stations include WKTV-TV, an NBC affiliate, as well as the digital affiliate for the CW network. The WKTV station was first launched in 1949 and was one of the first 100 television stations to go on-air in the United States.

The transaction represents the third recent sale of broadcasting assets by Smith Media. Waller Capital previously advised the Company on the sale of its Burlington, Vermont television stations to Nexstar Broadcasting and Santa Barbara, California television stations to News-Press & Gazette Company.

Heartland Media is a recently formed company led by former Gray Television President Robert Prather. Heartland will operate Smith’s Utica assets alongside other recently acquired stations in Oregon. Earlier this year, Heartland purchased three ABC affiliate stations in Eugene, Medford and Klamath Falls, Oregon from Chambers Communications.

About Waller Capital Partners, LLC
Founded in 1982, Waller Capital Partners is a leading independent investment bank and advisory Firm focused on the telecommunications, media and technology sectors. Waller Capital provides its clients with wide-ranging industry expertise in connection with mergers and acquisitions, private placements, restructurings and valuation services. Waller Capital’s experienced professionals maintain deep relationships at every level of its core industries and provide the Firm’s clients with independent, unbiased advice.