InterMedia Partners is paying $130 million for WAPA and WJPX, both San Juanm, plus the WAPA-America cable channel.
LIN TV Corp. today announced that it is selling its Puerto Rico television operations to InterMedia Partners for $130 million in cash, subject to certain closing adjustments. The stations are WAPA San Juan, a full-power independent station, and WJPX San Juan, an independent station branded as MTV Puerto Rico, as well as WAPA-America, a U.S. Spanish-language cable channel that utilizes the news and entertainment programming produced by the Puerto Rico stations.
“The sale of LIN TV’s Puerto Rico assets will sharpen our focus on our continental U.S. strategy and we expect that it will also improve our leverage profile,” said Vincent L. Sadusky, LIN TV’s president and chief executive officer.
LIN operates 31 television stations in 18 markets, three of which are LMAs. The company owns approximately 20% of KXAS Dallas and KNSD San Diego through a joint venture with NBC, and is a 50% non-voting investor in Banks Broadcasting, which owns KWCV Wichita, Kan., and KNIN Boise, Idaho. LIN is also a one-third owner of WAND, the ABC affiliate in Decatur, Ill., which it manages pursuant to a management services agreement.