Emmis Sets Nine Station Sales - Broadcasting & Cable

Emmis Sets Nine Station Sales

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Emmis Communications has cut deals for 9 of the 16 stations it has up for sale, getting offers totaling $681 milion.

Station buyers, subject to FCC approval, are LIN TV, Journal Communications, and Gray Television.

Analysts have been expecting the company to fetch $1.1 billion for the entire package of stations, which Emmis put up for sale to concentrate on radio.

Emmis’ biggest markets were not sold in this round, including stations in Orlando, Portland, and New Orleans.

LIN agreed to purchase five stations for $260 million: the Mobile, Ala./Pensacola, Fla. duopoly of Fox affiliate WALA-TV and WB affiliate WBPG-TV; Terre Haute, Ind., CBS affiliate WTHI-TV; Green Bay, Wis., Fox affiliate WLUK-TV, and Albuquerque, N. M. CBS affiliate KRQE-TV.

Journal Communications agreed to pay $235 million for three stations: Fort Myers, Fla., Fox affiliate WFTX-TV; Omaha, Neb., CBS affiliate KMTV-TV, and Tuscon, Ariz. ABC affiliate KGUN-TV.

Gray agreed to pay $186 milion for one station, Huntington/Charleston, W. Va., NBC affiliate WSAZ-TV.

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