NBCU will sell one of its television stations in Los Angeles to an investment company, subject to FCC approval, Broadcasting & Cable reports.
The station is Spanish-language independent KWHY-TV, which will be purchased by the Meruelo Group. The sale agreement comes before the Comcast-NBCU merger closes Jan. 28.
Terms of the deal were not disclosed, but the report notes that Telemundo paid $239 million when it purchased the station in 2001.
“NBC had originally asked the commission for a temporary, six-month extension of its waiver of the FCC ownership rules to continue owning three stations in the market,” the story reports. “The station group promised that within six months of the NBCU-Comcast deal’s close, it would either sell KWHY, one of its three stations there, or put it in a trust. But it subsequently indicated it did not need the waiver and would get a deal done.”
“The company also pledged to try and find a minority buyer as one of a number of pledges by Comcast/NBCU to promote diversity in programming and ownership. NBCU will put the station in a separate trust, Bahia Honday LLC, upon closing of the merger,” the story says.
In announcing the deal today, NBCU said in a statement: "The sale of KWHY to the Meruelo Group meets the diversity commitment made by NBCU in the course of the Comcast-NBCU regulatory process to use its best efforts to ensure that the station is sold to a minority-controlled ownership group.”