Multicultural Buys Five TV Stations
September 26, 2006 at 2:50 PM (PT)
ARTHUR LIU's MULTICULTURAL RADIO BROADCASTING gets into TV station ownership with the purchase of the former SHOP AT HOME broadcast TV stations from E.W. SCRIPPS CO. for $170 million. The deal includes KCNS-TV/SAN FRANCISCO; WMFP-TV/LAWRENCE-BOSTON; WOAC-TV/CANTON, OH; WRAY-TV/WILSON-RALEIGH, NC; and WSAH-TV/BRIDGEPORT, CT.
SCRIPPS sold the SHOP AT HOME network to JEWELRY TELEVISION for $17 million in JUNE and is now disposing of the broadcast licenses; MULTICULTURAL, which is buying the licenses through its MULTICULTURAL TELEVISION BROADCASTING, owns mostly brokered Ethnic radio stations in several major markets plus interests in cable, satellite, and print.