CBS To Sell Four TV Stations
CBS says it will sell four of its TV stations, plus a couple of low-power outlets, for $185 million to investment group Cerberus Capital Management. The deal is subject to FCC approval.
The stations--two CBS affiliates and two My Network TV affiliates--are KEYE-TV Austin, Tex.; KUTV Salt Lake City (plus satellite KUSG(TV) St. George, Utah; WLWC TV Providence, R.I.; and WTVX TV West Palm Beach, Fla., plus low powers WTCN-CA and WWHB-CA.
The sale continues CBS' strategy of selling off some of its smaller market TV and radio stations, including TV stations last year in Oklahoma, New Orleans, Columbus, and Indianapolis.