The former Shop At Home group includes stations in Boston; Cleveland; Raleigh-Durham; San Francisco; and Bridgeport, Conn.
E.W. Scripps is selling its five Shop At Home TV stations to Multicultural Broadcasting LLC for $170 million, it was announced this morning.
The stations: WMFP Boston; WOAC Cleveland; WRAY Raleigh-Durham, N.C.; WSAH Bridgeport, Conn.; and KCNS San Francisco.
Scripps put the stations on the block earlier this year after it decided to exit the home shopping business and sell the Shop At Home network for $17 million to Jewelry Television. The five stations were affiliates of the network.
Multicultural is a newly formed unit of Multicultural Radio Broadcasting Inc., a multi-ethnic media company with radio stations, cable and satellite TV programming services and publications in 22 languages. Arthur Liu is the principal owner and CEO.
According to CFO Sean Kim, Multicultural Radio owns and operates 44 mostly foreign-language radio stations. The languages include Spanish, Korean, Catonese, Mandarin and Russian, he said.
Kim said that the company intends to operate the TV stations in much the same way as the radio stations, programming some of the time and selling some to third-party programmers and infomercial producers and distributors. In Raleigh-Durham and Cleveland, where the foreign-language communities are small, he said, the stations may broadcast paid programming in English
The five stations are all in top 30 markets, at least technically. Kim said that WSAH is in the New York market, but that its signal does not cover the city.
Scripps is a major multimedia company with newspapers, TV stations and cable networks. Its conventional 10-station TV group includes six ABC affiliates.
CobbCorp represented Scripps as the sole broker in the Multicultural deal.