KRON-TV, KNTV talks continue
By BroadCasting & Cable Staff -- Broadcasting & Cable, 12/1/2001 11:52:00 AM
NBC continued separate conversations last week with both Young Broadcasting and Granite Broadcasting about the possible purchase of their San Francisco TV stations, KRON-TV and KNTV, respectively.
As to timing, one source said a deal could happen as early as this week.
Price is still the big issue in both cases, but more so with KRON -- one source involved says the KRON talks have cooled while the KNTV talks are 'more serious now.'
The source says Young is still holding out for more than $750 million for the station, while NBC has suggested a figure in the $600 million-range.
Young bought it last year for $823 million.
'We've told them their price needs to be more realistic,' a network source said of Young's asking price.
The bid-ask gap wasn't clear in the Granite talks but the speculation on Wall Street was that if NBC buys KNTV it will be for between $200 million and $225 million. - Steve McClellan
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