E.W. Scripps Co. has agreed to pay $521 million to buy 15 stations including KSBY in San Luis Obispo from Cordillera Communications, the company announced Monday. The sale requires federal regulatory approval.
If the acquisition is approved, Scripps holdings will grow to 51 stations in 36 markets. All but one of the acquired stations is ranked number 1 in their markets.
“The Cordillera stations have strong local brands and are well run and nicely positioned in their markets,” said Brian Lawlor, in a Scripps press release.
If federal regulators approve the acquisition, the deal is expected to close early next year.
The stations Scripps is acquiring are:
- WLEX, the NBC affiliate in Lexington, Kentucky
- KOAA, the NBC affiliate in Colorado Springs, Colorado
- KATC, the ABC affiliate in Lafayette, Louisiana
- KSBY, the NBC affiliate in Santa Barbara-San Luis Obispo, California
- KRIS, the NBC affiliate, and KAJA, a Telemundo affiliate, in Corpus Christi, Texas
- KPAX and KAJJ, a CBS affiliate in Missoula, Montana
- KTVQ, a CBS affiliate in Billings, Montana
- KXLF/KBZK, the CBS affiliate in Butte-Bozeman, Montana
- KRTV, the CBS affiliate, and KTGF, the NBC affiliate, in Great Falls, Montana
- KTVH, the NBC affiliate, and KXLH, the CBS affiliate, in Helena, Montana