CBS says it will sell four of its TV stations, plus a couple of low-power outlets, for $185 million to investment group Cerberus Capital Management. The deal is subject to FCC approval.
The stations--two CBS affiliates and two My Network TV affiliates--are KEYE-TV Austin, Tex.; KUTV Salt Lake City (plus satellite KUSG(TV) St. George, Utah; WLWC TV Providence, R.I.; and WTVX TV West Palm Beach, Fla., plus low powers WTCN-CA and WWHB-CA.
The sale continues CBS' strategy of selling off some of its smaller market TV and radio stations, including TV stations last year in Oklahoma, New Orleans, Columbus, and Indianapolis.
Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.
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