Spanish-language broadcaster Univision Communications Inc. has reached an agreement in principle
to buy KFTL(TV) Stockton, Calif., from Family Communications Inc. for $65
million.
That price could be raised substantially, however, because of a digital-TV-switch-related contingency clause.
That's according to documents filed at the Federal Communications Commission.
Univision would not comment on the price.
The Univision purchase increases the reach of its TeleFutura network to 17
full-power stations.
The deal is expected to close in the third quarter of 2003.
Univision also announced that it has closed on its purchase of WKFT(TV)
Raleigh-Durham, N.C., from Bahakel Communications.
That will come as no news to Bahakel, which, three weeks ago, itself announced
that the $18.9 million sale had closed.
WKFT, which becomes WUVC June 1, will be the first full-power
Spanish-language station in the state.
