Thursday’s purchase of KASA from Raycom for $55 million gives LIN the Fox half of the duopoly. KRQE, which it bought from Emmis last year in a five-station deal, is the CBS half.
Like other broadcasters, LIN TV just can get enough local-market duopolies.
Thursday, the Providence-based station group announced a deal to buy KASA, the Fox affiliate in Albuquerque, N.M. (DMA 46), from Raycom Media for $55 million. KASA will be paired with LIN’s existing CBS affiliate in the market, KRQE.
KRQE is one of five stations LIN bought from Emmis Communications last August for $260 million.
LIN will be able to get a jump on the joint operation. The deal includes a local marketing agreement that allows LIN to take charge of the station on Aug. 31, 2006, and run it prior to the deal closing, which is expected sometime in the fourth quarter.
“We believe the addition of KASA is an excellent complement to our multi-station strategy,” said LIN President/CEO Vincent L. Sadusky. “Albuquerque is a great market and we are excited to create a duopoly so soon after acquiring KRQE.”
When the KASA local marketing agreement takes effect and following completion of the acquisition, LIN TV will operate two or more stations in 10 markets: Indianapolis, Hartford-New Haven, Grand Rapids, Norfolk, Albuquerque, Buffalo, Providence, Austin, Mobile-Pensacola and Puerto Rico.
LIN TV Corp. operates 30 television stations in 18 markets, two of which are LMAs. It owns approximately 20% of KXAS Dallas, Texas and KNSD San Diego, Calif., through a joint venture with NBC, and is a 50% non-voting investor in Banks Broadcasting, Inc., which owns KWCV Wichita, Kansas and KNIN Boise, Idaho. LIN is also a one third owner of WAND, the NBC affiliate in Decatur, Ill., which it manages pursuant to a management services agreement.