Walt Disney Co. has agreed to sell the two smallest owned and operated stations in its 10-station ABC Owned Television Stations Group back to their former owner, SJL Broadcasting, reports B&C.
The stations, WJRT-TV in Flint, Michigan and WTVG in Toledo, Ohio, are expected to remain ABC affiliates, the story says. The deal should be completed in early 2011, pending Federal Communications Commission approval.
Disney doesn’t have any additional plans to sell more of its O&Os, and it doesn’t have current plans to buy any, according to a company spokeswoman, the story notes.
According to the story, ABC’s "next-smallest outlet after the Flint and Toledo stations, KFSN in Fresno, Calif., serves a specific strategic purpose for the group, acting as the technology hub, where research and testing of new technology is conducted that then can be rolled out to the rest of the stations."
How much money the stations will fetch was not discussed in the article, which noted, "WJRT took in $14 million in revenue in 2009, according to BIA/Kelsey, tops in the market" and that "WTVG booked $12.8 million last year, per BIA/Kelsey, trailing Raycom’s WTO" in its market.
That article also says that "The station sales market has been very quiet for years. The 2010 sales include LIN acquiring WIWB Green Bay and WBDT Dayton from ACME for $11.5 million; Local TV acquiring WGNT Norfolk from CBS for $16.5 million; and London Broadcasting picking up the McKinnon family’s KIII Corpus Christi for $31.3 million. All of the above are CWs, except for ABC affiliate KIII."
After teh sale is complete the Disney-ABC owned-and-operated stations will be, according to the story, WABC, New York; KABC, Los Angeles; WLS, Chicago; WPVI, Philadelphia; KGO, San Francisco; KTRK, Houston; WTVD, Raleigh-Durham; and KFSN, Fresno, Calif.