Emmis Closes On Orlando TV Sale
August 31, 2006 at 3:38 PM (PT)
EMMIS closes on the sale of WB affiliate (to join the new CW network in SEPTEMBER) WKCF (WB 18, to be CW 18)/ORLANDO to HEARST-ARGYLE for $217.5 million. The sale leaves EMMIS with only two remaining TV properties, FOX affiliate WVUE-TV (FOX 8)/NEW ORLEANS and CBS affiliate KGMB-TV (CBS 9)/HONOLULU and its satellites on other islands. EMMIS will also continue to own 50% of TV morning show "THE DAILY BUZZ," which will continue production in the now-former WKCF studio in LAKE MARY, FL while WKCF itself moves in with its new duopoly partner, NBC affiliate WESH-TV.
With the deal, HEARST-ARGYLE now has TV duopolies in the BOSTON DMA (ABC affiliates WCVB-TV/BOSTON and WMUR-TV/MANCHESTER), SACRAMENTO (NBC affiliate KCRA-TV and WB/MY NETWORK TV affiliate KQCA-TV (MY 58), KANSAS CITY (ABC affilaite KMBC-TV and UPN/CW affiliate KCWE-TV), and ORLANDO and a radio/TV combo in BALTIMORE (NBC affiliate WBAL-TV, Talk WBAL-A, and Rock WIYY (98 ROCK)).