SJL Broadcast Management is acquiring WTVG Toledo for $16.8 million and WJRT Flint for $13.2 million, according to an FCC filing. The seller is Disney and the deal is expected to close early in the new year.
Earlier this month, B&C reported that SJL, fronted by broadcasting veteran George Lilly, had worked out a deal to acquire the two ABC-owned stations. Lilly envisions WJRT and WTVG as flagships for a group of six to eight stations, comprised of Big Four affiliates that are market leaders or close seconds.
"If you're starting to build a group, what better stations to use as the flagship?" he told B&C earlier this month.
SJL is backed by Sankaty Advisors, an affiliate of Bain Capital.