Cox Media Group is selling stations in 12 markets to Imagicomm, an affiliate of cable network INSP. The stations are KLAX Alexandria, Louisiana; WICZ Binghamton, New York; KIEM-KVIQ Eureka, California; WABG-WNBD-WXVT Greenwood, Mississippi; KPVI Idaho Falls, Idaho; KMVU-KFBI Medford, Oregon; WHBQ Memphis; KAYU Spokane, Washington; WSYT Syracuse; KOKI-KMYT Tulsa, Oklahoma; KCYU-KFFX Yakima; and KYMA Yuma, Arizona.
The price of the sale was not disclosed.
“These are important local journalism and community service brands powered by incredible media professionals and journalists who work tirelessly to inform, entertain and elevate the communities they serve,” CMG president and CEO Dan York said. “We are pleased to advance the strategic evolution of our portfolio, are proud of our team members at these stations, and are confident they will continue to excel in their important work as part of the Imagicomm/INSP family.”
Remaining CMG-owned stations include WSB Atlanta, WSOC Charlotte and WHIO Dayton, Ohio.
“We are excited to be entering the broadcast television market with this strong collection of brands that are integral to informing and entertaining the communities they serve,” INSP chairman and CEO David Cerullo said. “We look forward to working with the stations’ talented staff and building upon their rich legacy of journalism and serving their communities, advertisers, and audiences. This acquisition is part of our broad corporate strategy to expand our media ownership across multiple entertainment platforms.”
The buyer and seller expect the deal to close in the second half of 2022. The sale is contingent on the requisite regulatory approvals from the Justice Department, which looks at antitrust, and the FCC, which reviews all license transfers under a public interest standard. ■
