US TV
NBC sells four owned and operated stations
Published Thursday, Apr 6 2006, 16:41 BST | By James Welsh
NBC has sold four owned-and-operated stations to Richmond, Virginia-based Media General for $600m.
The stations, WNCN-TV Raleigh; WCMH-TV Columbus; WTVM-TV Birmingham and WJAR-TV Providence, are all in major university communities and three of them are based in state capitals.
"NBC Universal's decision to sell these four stations is part of our strategy to focus on larger, duopoly markets in local communities which NBC and Telemundo can serve together," said Jay Ireland, president of the NBC Universal Television Stations. "Media General, a financially strong company with top leadership and a long-standing commitment to meeting the needs of its communities, is an ideal owner for these outstanding stations. Employees of the four stations can look forward to significant career opportunities over the long term, and the stations' viewers will continue to enjoy the quality news and programming they've come to expect.
"We look forward to working with Media General as an affiliate owner for many years to come."
Media General plans to finance the transaction under existing capacity, although it plans to sell its CBS affiliates in Birmingham, Wichita, Mason City and Chattanooga. The Birmingham sale is required under ownership regulations.
The stations, WNCN-TV Raleigh; WCMH-TV Columbus; WTVM-TV Birmingham and WJAR-TV Providence, are all in major university communities and three of them are based in state capitals.
"NBC Universal's decision to sell these four stations is part of our strategy to focus on larger, duopoly markets in local communities which NBC and Telemundo can serve together," said Jay Ireland, president of the NBC Universal Television Stations. "Media General, a financially strong company with top leadership and a long-standing commitment to meeting the needs of its communities, is an ideal owner for these outstanding stations. Employees of the four stations can look forward to significant career opportunities over the long term, and the stations' viewers will continue to enjoy the quality news and programming they've come to expect.
"We look forward to working with Media General as an affiliate owner for many years to come."
Media General plans to finance the transaction under existing capacity, although it plans to sell its CBS affiliates in Birmingham, Wichita, Mason City and Chattanooga. The Birmingham sale is required under ownership regulations.
More: US TV
Tube Talk
'Simpsons' ultimate countdown (15-11)The countdown of the greatest Simpsons episodes continues.
2012-13 Season
Katie Cassidy cast in The CW's 'Arrow'Katie Cassidy will star alongside Stephen Amell in The CW's Arrow.
US TV Interviews
Debby Ryan talks Disney's 'Jessie'The Suite Life's Debby Ryan stars in new Disney Channel comedy Jessie.
US TV Ratings
'Cougar Town' returns to ABC with 4.8mAll five major networks were down on Valentine's Day, with ABC suffering the most.
