Cox Sells 18 Stations In 12 Markets To INSP

Cox Media Group today announced the sale of 18 stations in 12 markets to the general entertainment cable network INSP, marking the latter’s expansion into broadcast television. The purchase price was not disclosed.

Upon the close of the transaction, Imagicomm Communications, an affiliate of INSP, will acquire the following CMG stations:

• Alexandria, LA — KLAX (ABC)
• Binghamton, NY — WICZ (Fox)
• Eureka, CA — KIEM (NBC)/KVIQ-LD (CBS)
• Greenwood, MS — WABG (ABC-Fox)/WNBD (NBC)/WXVT (CBS)
• Idaho Falls, ID — KPVI (NBC)
• Medford, OR — KMVU (Fox)/KFBI-LD (MNT)
• Memphis, TN — WHBQ (Fox)
• Spokane, WA — KAYU (Fox)
• Syracuse, NY — WSYT (Fox)
• Tulsa, OK — KOKI (Fox)/KMYT (MNT)
• Yakima, WA — KCYU-LD (Fox)/KFFX (Fox)
• Yuma, AZ — KYMA (CBS)

CMG President-CEO Dan York said: “These are important local journalism and community service brands powered by incredible media professionals and journalists who work tirelessly to inform, entertain, and elevate the communities they serve. We are pleased to advance the strategic evolution of our portfolio, are proud of our team members at these stations, and are confident they will continue to excel in their important work as part of the Imagicomm / INSP family.”

David Cerullo, INSP chairman-CEO, said: “We are excited to be entering the broadcast television market with this strong collection of brands that are integral to informing and entertaining the communities they serve. We look forward to working with the stations’ talented staff and building upon their rich legacy of journalism and serving their communities, advertisers, and audiences. This acquisition is part of our broad corporate strategy to expand our media ownership across multiple entertainment platforms.”

The transactions are subject to customary closing conditions, including applicable regulatory approvals. The parties said they expect to close the announced transactions in the second half of 2022.