Sinclair Broadcast Group To Acquire KSNV News 3
Sinclair Broadcast Group has entered into a definitive agreement to acquire KSNV-TV, the NBC affiliate in Las Vegas from Intermountain West for $120 million, the Baltimore-based broadcasting company said Wednesday.
The deal, which is subject to regulatory approvals, is expected to close in the first quarter of 2015.
“We are pleased to add KSNV to our portfolio,” said Steve Pruett, co-chief operating officer of Sinclair’s television group. “With the addition of the station, our news footprint will cover all the major cities in the state of Nevada, allowing us to be a leading provider of local and regional news.”
Sinclair currently owns two other stations in Las Vegas, KVCW (CW) and KVMY (MyNet network). But in order to comply with regulatory requirements, Sinclair will sell the FCC license and related assets, but not the programming, of one of the three stations in Las Vegas.
In Reno, Sinclair owns and operates KRXI, the Foxx affiliate, has a local marketing agreement with KAME, or MyTV Channel 21, and has a joint sales agreement with KRNV, the NBC affiliate. The company acquired the non-license assets of KRNV, which didn’t required FCC approval, from Intermountain West in November for $26 million.
Intermountain West was owned by Jim Rodgers, who died June 14. Sinclair is one of the nation’s largest broadcast companies, and if the KSNV deal is approved will be able to reach 38.2 percent of U.S. households.
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