WCBS/Channel 2 announced today that it signed a definitive agreement to purchase independent station WLNY/Channel 55.
While terms of the agreement with the seller, WLNY Holdings, Inc., were not disclosed, the acquisition of WLNY-TV would give CBS a duopoly in the nation’s largest media market.
“Our acquisition of WLNY-TV presents a tremendous opportunity for our TV Stations Division,” said Peter Dunn, president, CBS Television Stations. “The combined strengths of CBS 2 and WLNY-TV will give us a terrific platform for serving the entire New York area. Our plans for the station include adding people and resources to fuel a significant expansion of local news programming well beyond the nightly half hour that currently airs. And, of course, in doing so we will continue to honor the station’s already deep commitment to serving the people of Long Island and the entire tri-state area. We also look forward to having a bigger and better news bureau on Long Island that will be a terrific resource for WCBS.”
WLNY is widely distributed by cable, satellite, and other subscription television service providers in the tri-state area. The station appears as either Channel 10 or Channel 55 on most channel lineups, and as Channel 55 as an over-the-air service.
“WLNY-TV is a perfect fit for CBS as it will enhance its position as a forward-thinking entertainment and news organization,” said David Feinblatt, president, WLNY.
The transaction is subject to customary conditions, including regulatory and other approvals.