Fox Selling WUTB to Deerfield Media for $2.7 MillionSinclair works out shared services agreement for Baltimore station 11/29/2012 03:56:08 PM Eastern
Fox Television Stations is selling WUTB Baltimore to
Deerfield Media, while Sinclair Broadcast Group, which is based in Baltimore,
will operate WUTB through a shared-services agreement.
Stephen Mumblow is the sole stockholder in Deerfield.
As a standalone MyNetworkTV station, WUTB wasn't an ideal fit
in the Fox-owned portfolio.
In May, Fox
and Sinclair worked out a quirky deal as part of affiliation agreements for
Sinclair's 19 Fox affiliates, in which Sinclair received "an assignable
option to purchase at fair value," WUTB.
That was designed to preserve the Sinclair flagship, Fox affiliate
Sinclair also operates CW affiliate WNUV in Baltimore, which
is owned by Cunningham Broadcasting.
The WUTB acquisition was previously reported in TVNewsCheck.