Meredith Buys Sinclair Station

Nov 12, 2004  •  Post A Comment

Sinclair Broadcast Group on Friday said it had sold for $26.8 million the non-license assets of KSMO-TV in Kansas City, Kan., to Meredith Broadcasting and at the same time inked a joint sales agreement under which Meredith will manage many of the operations of the station, a WB Network affiliate.

The two companies said that at a later date, pending Federal Communications Commission approval, they would also enter into an agreement under which Meredith would buy the station’s license assets for another $6.7 million.

Meredith, which already owns the CBS affiliate in Kansas City, KCTV-TV, said the deal provides it the opportunity to go after the younger audiences who tend to watch KSMO, while at the same time offering local news, sports and specials on KSMO.

The sale also builds upon a strategy used by Meredith this year in which the company is creating either duopolies or regional clusters. In January, the company launched a CBS affiliate in Springfield, Mass., that is run by its Hartford, Conn., CBS affiliate. In August, Meredith acquired the WB affiliate in Chattanooga, Tenn., to add to its regional cluster of stations in the Southeast. The company also operates a duopoly in Portland, Ore.