In an effort to focus on larger markets, Cox Media Group has announced that it is selling four of the stations it currently owns and buying four stations from Newport Television.
“This simplified structure will enable CMG to capitalize on continued growth and synergies, while retaining its size financially,” president Doug Franklin said in a statement. “All of our media outlets, regardless of size, are valuable, profitable brands with strong futures thanks to the hard work and dedication of our talented professionals who serve their audiences, advertisers and communities.”
Newport Television announced yesterday they are also selling 12 stations to Nexstar Broadcasting (see a list of those here) and six stations to Sinclair Broadcasting for $412 million.
The stations being sold to Sinclair are: WKRC in Cincinnati, WOAI in San Antonio, KSAS in Wichita, WHP in Lancaster and WPMI and WJTC in Mobile.
- Robert Allbritton on Sinclair Deal: 'It’s Great To Do a Deal, But it’s Kind of Tough to Walk Away'
- FCC Approves Sinclair's Allbritton Buy
- Sinclair Announces Funding for Allbritton Purchase
- Sinclair Launches College Sports Network