Emmis to Sell Four More Stations

Sep 29, 2005  •  Post A Comment

Emmis Communications announced Thursday that it has reached an agreement with the Blackstone Group and SJL Broadcast Group to sell four more television stations for a total of $259 million.

Emmis is selling CBS affiliate KOIN-TV in Portland, Ore.; Fox affiliate KHON-TV in Honolulu; NBC affiliate KSNW-TV in Wichita, Kan.; and NBC affiliate KSNT-TV in Topeka, Kan.

The deal comes weeks after Emmis struck deals with LIN TV Corp., Journal Communications and Gray Television to sell nine TV stations for a total of $681 million. The deal is part of a plan Emmis announced in May to sell its 16 television stations and focus on its core radio business.

The company had no word on its three remaining stations that are up for sale: CBS affiliate KGMB-TV in Honolulu; Fox affiliate WVUE-TV in New Orleans; and WB affiliate WKCF-TV in Orlando, Fla.

The news of the sale came as the company reported that its fiscal second-quarter profit tumbled nearly 53 percent to $6.2 million from a year-earlier figure of $13.1 million. Revenue rose 11 percent to $107.9 million.