Journal Broadcast Group Grabs KNIN
Banks-Boise sells Boise, Idaho, The CW affiliate for $8M.
By Michael Malone -- Broadcasting & Cable, 7/2/2008 6:41:00 AM
Journal Broadcast Group agreed to purchase KNIN Boise, Idaho, from Banks-Boise for $8 million.
KNIN is a CW affiliate in the No. 113 DMA. Milwaukee-based Journal currently owns ABC affiliate KIVI Boise and several Boise radio stations.
“The acquisition of KNIN is on strategy and gives us an opportunity to build out cross-platform businesses in Boise, one of the country’s fastest-growing markets,” Journal CEO and vice chairman Doug Kiel said, adding that Journal’s growing batch of media assets in the market helps the company to “better serve advertisers and viewers in the Treasure Valley.”
Banks Broadcasting, headed up by Lyle Banks, is the parent of Banks-Boise. Chairman and president Banks said he was pleased that the station “is being turned over to an experienced broadcasting company whose leadership has a real commitment to the Boise market, the local community and to its employees.”
KNIN is a former UPN affiliate.
Kalil & Co. brokered the deal, which is subject to regulatory approval.
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