Sinclair Sells Fox Affiliate

May 16, 2005  •  Post A Comment

Sinclair Broadcast Group said Monday it has sold its Fox affiliate in the Virginia-Tennessee Tri-Cities market to BlueStone Television and Aurora Broadcasting for $7 million.

As part of the deal, Bluestone will receive the broadcasting assets of WEMT-TV for $5.6 million, while Aurora will purchase the license assets for $1.4 million. The Tri-Cities area consists of Bristol, Va.; Bristol, Tenn.; Johnson City, Tenn.; and Kingsport, Tenn.

BlueStone already owns WCYB-TV in the Tri-Cities market, and will operate WEMT-TV with Sinclair through a joint sales and shared services agreement, under which WCYB will provide nonprogramming-related sales, operational and administrative services to WEMT.

The deal is the latest in a string of sales by Sinclair of stations that do not offer the Baltimore-based station group duopoly opportunities. In the past six months, Sinclair has executed $325 million worth of single-station sales.