New Vision Buys Two More Stations
By John Eggerton -- Broadcasting & Cable, 11/15/2006 12:19:00 PM
New Vision Television has struck a deal to buy WKBN-TV and low power WLFX,--both located in Youngstown, Ohio--from Piedmont Television Holdings.
The deal, subject to FCC approval, is expected to close first quarter 2007.
That makes four stations for New Vision, which bought WIAT(TV) Birmingham, Ala., and KIMT Mason city, Iowa, both CBS affiliates, for $35 million back in August.
CFO Eric Simontis says that the fact three of the first four stations were CBS affiliates is coincidence and the company is hunting for affiliate and geographic diversity in medium to large markets. It has offices in L.A. and Atlanta.
Look for more announcements in the next month. Simontis says they are in due diligence on a number of other stations.
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