It’s Official: Post-Newsweek Acquires WTVJ
Washington Post deal for Miami NBC affiliate believed to be worth $350 million.
By Michael Malone -- Broadcasting & Cable, 7/18/2008 6:55:00 AM
The Washington Post Co. agreed to buy WTVJ Miami from NBC Universal.
Its Post-Newsweek Stations subsidiary will continue to operate WTVJ as an NBC affiliate.
Terms of the deal were not disclosed, although published reports set the price at around $350 million. It is expected to be completed by the end of 2008.
"We are pleased to be able to reach an agreement to purchase such a historic station as WTVJ, the first TV station to broadcast in Florida,” Post-Newsweek Stations president and CEO Alan Frank said. “We look forward to both WPLG and WTVJ continuing to serve the south Florida community."
"Post-Newsweek has been a strong affiliate partner of ours for many years," added NBC Local Media Division president John Wallace. "They are seasoned broadcasters who have a solid reputation in the industry. We look forward to working with Post-Newsweek as an affiliate owner for many years to come."
NBCU retains its Telemundo affiliate, WSCV, in Miami. Post-Newsweek operates ABC affiliate WPLG Miami.
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