10.16.2012 09:48 AM
Originally featured on BroadcastEngineering.com
LIN Media completes acquisition of New Vision Television stations
LIN Media has completed the acquisition of television stations from New Vision Television, taking the number of TV stations LIN Media operates or services to 43, the company said Oct. 12.
New Vision Television announced in May that it had reached a definitive agreement with LIN Media to sell 17 stations in eight television markets to the broadcast group for $330.4 million and the assumption of some debt.
“LIN Media has acquired a terrific collection of broadcast properties with employees that share a similar passion for excellence and growth that have driven our company for the past 50 years. The addition of these television stations further advances our strategy to expand our national footprint and digital media business,” said LIN Media president and CEO Vincent Sadusky.
The acquisition of the New Vision Television stations extends the reach of LIN Media to 23 markets covering 10.6 percent of television homes in the United States.
The newly acquired stations are located in:
Portland, OR (DMA 22);
Birmingham, AL (DMA 39);
Wichita, KS (DMA 67);
Honolulu, HI (DMA 71);
Savannah, GA (DMA 92);
Youngstown, OH (DMA 110);
Topeka, KS (DMA 136); and
Mason City, IA (DMA 153).
“Even though this is the fourth major television station group that New Vision's management has successfully managed and then sold, we have never worked with a finer group of colleagues than the general managers, managers and employees who have built the thriving stations that LIN Media is now acquiring,” said New Vision CEO Jason Elkin.