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CBS Paying $55 Million For WLNY New York

When CBS announced on Dec. 12 that it was acquiring WLNY and creating a New York duopoly (with flagship WCBS), it didn't release the price. But it shows up in the FCC application seeking approval of the deal. WLNY is an independent station owned by Michael Pascucci and family.

By TVNewsCheck | December 21, 2011 | 8:59 a.m. ET.
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Linda Leavell says:

December 22, 2011 at 7:18 am

CBS also noted that the new television duopoly with WCBS-TV did not impact its ability to hold on to its six-station radio cluster. It said that in the crowded NYC media market, it would legally be able to hold one television station and seven radio stations, or two television stations and six radio stations. It’s current lineup, including WCBS AM-FM, WFAN-AM, WINS-AM, WWFS-FM and WXRK-FM, can therefore be retained intact.

Sell One of Radio to another company.