CBS said Thursday that it closed on the $185 million sale of four TV stations to Four Points Media Group (Cerberus Capitol), ending its divestiture of 50 medium and smaller-market stations, 11 TV and 39 radio, dating back to 2006.
CBS paved the way for the deal in October when it paid $300,000 to settle a license challenge at the Federal Communications Commission to KUTV (TV) Salt Lake City.
The company said the sales took in almost $1 billion ($922 million) and left it with 29 TV stations and 140 radio stations.
Four Points picked up two CBS affiliates and two MyNetwork TV affiliates -- KEYE-TV Austin, Texas; KUTV (plus satellite KUSG) St. George, Utah; WLWC TV Providence, R.I.; and WTVX TV West Palm Beach, Fla., plus low-powers WTCN-CA and WWHB-CA.
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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.