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Hearst-Argyle Buys Emmis’ WKCF-TV in Orlando

May 8, 2006  •  Post A Comment

Hearst-Argyle Television said Monday that it has agreed to buy Emmis Communications’ WB affiliate WKCF-TV in Orlando, Fla., for $217.5 million in cash.

The sale, which is subject to federal regulatory approval, would give Hearst-Argyle ownership of two stations in the Orlando-Daytona Beach-Melbourne market, the 20th-largest market in the country. Hearst-Argyle already owns NBC affiliate WESH-TV in the market, the company said in a press release. WKCF has signed on to become a CW affiliate in September.

With the sale of WKCF, Emmis’ plan to sell off its television assets and focus on its radio business is nearly complete. Emmis Chairman and CEO Jeff Smulyan also announced on Monday an offer to take the company private for $567 million.

Emmis has two more TV stations for sale: KGMB-TV, the CBS affiliate in Honolulu; and WVUE- TV, the Fox affiliate in New Orleans.