NBCUniversal’s Telemundo Station Group said it completed its acquisition of nine TV stations from ZGS Communications.
The stations serve six markets including a full-power outlet in El Paso, Texas.
The acquisition brings the Telemundo Station Group to 24 markets from 18 in the U.S. and Puerto Rico.
NBCU paid $75 million in cash for 11 ZGS stations. The applications for four of them are still pending. It intends to retain the majority of current employees.
Related: A Broadcast Giant in Any Language
“As local broadcasters, we look forward to working with these new communities to deliver our best-in-class journalism to help keep viewers informed,” said Valari Staab, President, NBCUniversal Owned Television Stations.
"Our Telemundo stations have experienced tremendous growth in the past few years thanks to the exceptional work and journalism delivered by our Telemundo station colleagues, which has resulted in revolutionizing the way Spanish-speaking audiences receive their local news. I’m pleased that we’ll have a chance to dedicate the same resources we devote to our Telemundo stations to these great stations we are welcoming to our NBCUniversal family today,” Staab said.
NBCU completed the acquisition of stations El Paso , Orlando, Tampa, Ft. Myers, Richmond and Springfield.
“The Telemundo Station Group had an outstanding 2017 and we’re excited to kick-start 2018 by welcoming new station teams to our station group family,” added Manuel Martinez, President, Telemundo Station Group. “Together, we will continue to do what we do best: inform, empower and entertain our audiences with the outstanding Telemundo local and national programming they already enjoy.”
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.