ATLANTA & CHARLOTTE, N.C.—Cox Media Group (CMG) has announced that it has entered into a definitive agreement to sell TV stations in 12 markets to Imagicomm Communications, an affiliate of the general entertainment cable network INSP, LLC (INSP).
Terms of deal were not disclosed.
The deal is subject to customary closing conditions, including applicable regulatory approvals and is expected to close in the second half of 2022, the companies said.
When the deal closes Imagicomm Communications, an affiliate of INSP, will acquire the following CMG stations:
- Alexandria, LA - KLAX
- Binghamton, NY - WICZ
- Eureka, CA - KIEM/KVIQ-LD
- Greenwood, MS - WABG/WNBD/WXVT
- Idaho Falls, ID - KPVI
- Medford, OR - KMVU/KFBI-LD
- Memphis, TN - WHBQ
- Spokane, WA - KAYU
- Syracuse, NY - WSYT
- Tulsa, OK - KOKI/KMYT
- Yakima, WA - KCYU-LD/KFFX
- Yuma, AZ - KYMA
“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,” said CMG’s president and CEO, Dan York. “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.”
“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,” added David Cerullo, chairman and CEO of INSP, 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.”
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George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.