Sinclair to Sell WEMT-TV - TvTechnology

Sinclair to Sell WEMT-TV

Sinclair Broadcast Group is selling the broadcast assets of WEMT-TV in the tri-cities market--Bristol, Va., Johnson City and Kingsport, Tenn.--to Bluestone Television. The Baltimore-based station group also is selling the license assets of WEMT-TV to Aurora Broadcasting. The price of the total purchase for the t
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Sinclair Broadcast Group is selling the broadcast assets of WEMT-TV in the tri-cities market--Bristol, Va., Johnson City and Kingsport, Tenn.--to Bluestone Television.

The Baltimore-based station group also is selling the license assets of WEMT-TV to Aurora Broadcasting.

The price of the total purchase for the two deals is $7 million; $5.6 million is for the non-license assets closed and funded. The sale of the license assets for $1.4 million is subject to regulatory approval.

BlueStone Television--the owner of WCYB-TV in Tri-Cities--will operate WEMT-TV with Sinclair pursuant to a joint sales and shared services agreement, in which BlueStone's station will provide non-programming related sales, operations and administrative services to WEMT-TV.