In a $6 million deal, Thomas J. Vaughan will replace three other entities as the principal owner of CW affiliate KNVA, which is operated by LIN’s NBC affiliate in the Texas market, KXAN.
LIN Television’s duopoly station in Austin, Tex., CW affiliate KNVA, is getting a new majority owner: Thomas J. Vaughan, of Decatur, Ill.
LIN owns NBC affiliate KXAN Austin and operates it in tandem with KNVA.
According to an FCC filing, Vaughan is acquiring a 96 percent interest in KNVA licensee 54 Broadcasting Inc. from three other entities — LS Communications, Goldberg-Hirsch Ventures and Ronnel Oliveira — for $6 million. LIN will retrain a 4 percent interest in the licensee.
The transfer of control, subject to FCC approval, settles a lawsuit that the majority shareholders had brought against LIN and Vaughan. The $6 million payment is part of the settlement.
FCC rules prohibit LIN from outright owning two top-rated stations in a market as small as Austin.