Journal Communications to Acquire Landmark's WTVF NewsChannel 5Buys CBS affiliate for $215 million 9/04/2012 08:31:34 AM Eastern
Journal Broadcast Group, a subsidiary of Journal Communications,
has agreed to purchase WTVF NewsChannel 5 Network from Landmark Media
Enterprises for $215 million.
NewsChannel 5 Network, a CBS affiliate, comprises NewsChannel
5 (WTVF), NewsChannel 5+, a This TV affiliate (D3) and NewsChannel5.com. WTVF is a big leader in DMA No. 29.
Landmark had a deal in place to sell WTVF to Bonten Media Group four years ago, but that deal fell apart amidst the recession.
"We are especially pleased to reach an agreement to purchase
NewsChannel 5 in Nashville," said Steven J. Smith, chairman and CEO, Journal
Communications. "This station will be a cornerstone asset within Journal
Communications. WTVF TV is an exceptional local news station with an extraordinary
staff that demonstrates its commitment to Nashville every single day. We are
delighted to welcome NewsChannel 5's outstanding team to Journal."