Spanish-language broadcaster Univision Communications Inc. has reached an agreement in principle
to buy KFTL(TV) Stockton, Calif., from Family Communications Inc. for $65
million.
That price could be raised substantially, however, because of a digital-TV-switch-related contingency clause.
That's according to documents filed at the Federal Communications Commission.
Univision would not comment on the price.
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The Univision purchase increases the reach of its TeleFutura network to 17
full-power stations.
The deal is expected to close in the third quarter of 2003.
Univision also announced that it has closed on its purchase of WKFT(TV)
Raleigh-Durham, N.C., from Bahakel Communications.
That will come as no news to Bahakel, which, three weeks ago, itself announced
that the $18.9 million sale had closed.
WKFT, which becomes WUVC June 1, will be the first full-power
Spanish-language station in the state.
