LIN Deals Toledo Fox Affiliate to American SpiritHenson pays $22 million for WUPW 1/11/2012 04:05:53 PM Eastern
LIN Media has agreed to sell Fox affiliate WUPW Toledo (Ohio) to American Spirit Media for $22 million.
Toledo dropped four places in Nielsen's most recent DMA ranking, to No. 74. In Nov. 2010, ABC sold WTVG Toledo to SJL Broadcasting. It and Raycom's CBS affiliate, WTOL, lead the ratings and revenue races in Toledo.
"LIN Media filed an application with the FCC to assign WUPW-TV's license to WUPW License Subsidiary, LLC, an indirect subsidiary of American Spirit Media," said LIN in a statement.
The Toledo Blade previously reported the deal. Charlotte-based American Spirit Media is owned by Thomas B. Henson, reports the Blade. Last year, Henson acquired Fox affiliates WXTX Columbus (Ga.), WSFX Wilmington (N.C.) and WFXG Augusta (Ga.), and CW affiliate WUPV Richmond (Va.), from Southeastern Media.
The Blade reports of a shared services agreement between WTOL and WUPW. In addition to news, WUPW and WTOL will share access to studios, master control, technical facilities, maintenance, and promotional efforts.
American Spirit Media will pay WTOL more than $1.3 million in the first year of the agreement, adds the Toledo Blade.