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Four Points Media sells KEYE, 6 other stations for $200 million
Four Points Media Group is selling its seven TV stations, including Austin’s KEYE, to Maryland-based Sinclair Broadcast Group for $200 million.
KEYE serves as the city’s CBS affiliate, in addition to delivering Telemundo programming on a digital subchannel.
The deal, announced today, requires the approval of the Federal Communications Commission.
“We believe this transaction is in the best strategic interests of both companies and our respective viewers,” said Chris Matson, CFO for Four Points. “We expect that the Four Points stations will integrate quite well with Sinclair’s portfolio and should benefit from being a part of one of the leading U.S. broadcasting companies.”
Sinclair has 58 TV stations in 35 cities nationwide, including San Antonio’s Fox and CW affiliates.
“The stations, which are in prime middle-markets, are a perfect complement to our portfolio of assets and TV footprint,” said David Smith, Sinclair’s president and CEO.
Four Points acquired KEYE, as well as a trio of stations in West Palm Beach, Fla.; two in Salt Lake City, Utah; and one in Providence, R.I., from CBS in 2007. CBS purchased KEYE from Granite Broadcasting in 2000.
Comments
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By bjh
September 8, 2011 6:55 PM | Link to this
This is terrible news. Sinclair has a long history of promoting right wing nonsense -- from pushing its stations to broadcast a Swiftboater hatchet job on John Kerry in 2004, to promoting a Republican PAC's "infomercial" filled with lies about Barack Obama in 2010. They've sent out right wing "editorials" from their head office for years, and cut back or even eliminated local news production at many of their stations. Sinclair is run by the worst kind of right wing corporate hacks, and their acquisition of Channel 42 is very bad news for Austin.