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VOL. 36 | NO. 35 | Friday, August 31, 2012
Journal Communications announces WTVF-TV purchase
NASHVILLE (AP) - Journal Communications Inc. has entered a definitive agreement to purchase Nashville's WTVF-TV.
In a news release on Tuesday, the Milwaukee-based company said it is purchasing the CBS-affiliated station for $215 million in cash plus a working capital adjustment at closing.
The station is currently owned by Landmark Media Enterprises LLC.
Closing is subject to approval by the Federal Communications Commission.
Journal Chairman Steven Smith said in the release that WTVF will be a "cornerstone asset" for the company.
WTVF is the ratings and revenue market share leader in the Nashville market. It is one of the top three CBS affiliates in the nation based on CBS ratings in metered markets.