Word is that ACME Communications Inc. may sell KPLR-TV St. Louis to Tribune
ACME wasn't commenting, but in a recent Securities and Exchange Commission filing, the company said it was
seriously considering an offer by an unnamed party to purchase what ACME called
"one of our largest TV stations."
Wall Street sources pegged the party as Tribune, which also just agreed to
buy WTTV(TV) Indianapolis.
Those sources also noted that ACME had talked with Fox about a possible swap of
KPLR-TV for a second station in Portland, Ore., but the talks concluded without a
Meanwhile, sources said Tribune could be expected to pay more than $300
million for KPLR-TV, which ACME bought for $150 million in the late 1990s.
If the deal with Tribune does go through, it's believed that ACME would use the
proceeds to pare down debt and buy other undervalued TV properties.
The television industry's top news stories, analysis and blogs of the day.