Media General Selling KWCH to Schurz

Jul 28, 2006  •  Post A Comment

Schurz Communications has agreed to buy KWCH-TV in Wichita, Kan., and its satellite stations in Dodge City, Hays and Goodland from Media General. The announcement Friday said the sale price is approximately $73 million and that the deal is expected to be completed in the third or fourth quarter of 2006.

Media General announced last April that it would sell four CBS affiliates as part of its acquisition of four TV stations from NBC. The latter deal was completed in late June and raised the number of Media General’s NBC stations to nine, which ranks as the third-largest group of NBC affiliates.

Media General President and CEO Marshall N. Morton said Friday that “negotiations are proceeding well with other parties” for WDEF-TV in Chattanooga, Tenn., WIAT-TV in Birmingham, Ala., and KIMT-TV in Mason City, Iowa. He said he expects those deals to be completed by the end of the year.

“Once all of the divestitures are completed, Media General will provide aggregated financial details on the group of stations sold. We continue to expect net proceeds from the sale of all the stations to exceed $100 million,” Mr. Morton said.