The TV group agrees to purchase KNIN from Lyle Banks for $8 million. It will operate the CW affiliate in tandem with its ABC affiliate, KIVI.
DMA 113
Journal Broadcast Doubling Up in Boise
Expanding its presence in Boise, Idaho, Journal Broadcast Group has agreed to purchase the market’s CW affiliate, KNIN, from Lyle Banks for $8 million, the company announced this afternoon.
Journal already has a substantial footprint in the market. It owns the ABC affiliate, KIVI, as well as four FMs and two AMs.
“The acquisition of KNIN is on strategy and gives us an opportunity to build out cross-platform businesses in Boise, one of the country’s fastest-growing markets,” said Journal Broadcast Group CEO Doug Kiel.
It’s unclear how Journal plans to win FCC approval of the deal. Current rules ban ownership of two stations by one company in markets as small as Boise (DMA 113).
Journal Broadcast Group is a subsidiary of the publicly traded Journal Communications.
In addition to the Milwaukee Journal, it owns 35 radio stations and 11 TV stations in 12 states.
BRAND CONNECTIONS
With the sale, Banks is exiting TV broadcasting. Last summer, he sold his only other station, CW affiliate KSCW Wichita, Kan., to Schurz Communications, which now runs the station in a duopoly with its CBS affiliate.
The Boise deal was brokered by Kalil & Co.
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