LIN TV Corp. is buying KASA, the Fox affiliate in Albuquerque, N.M., from Raycom Media Inc. for $55 million in cash. The deal marks LIN's second station acquisition in Albuquerque, after its recent purchase of CBS affiliate KRQE.
Prior to closing, LIN TV will operate the station pursuant to a local management agreement starting August 31. The company expects to close on the deal in the fourth quarter.
The company said the acquisition of KASA is an important step in the implementation of its multi-station strategy. By operating multiple stations in various markets, LIN TV has strengthened and diversified its audience and advertiser bases while controlling costs.
"We believe the addition of KASA is an excellent complement to our multi-station strategy," said Vincent L. Sadusky, LIN TV's president and CEO. "Albuquerque is a great market and we are excited to create a duopoly so soon after acquiring KRQE."
When the KASA local marketing agreement takes effect and following completion of the acquisition, LIN TV will operate two or more stations in 10 markets: Indianapolis, Hartford-New Haven, Grand Rapids, Norfolk, Albuquerque, Buffalo, Providence, Austin, Mobile-Pensacola and Puerto Rico.
