Telemundo Buys Out Affil In Philly for $19M

Telemundo has agreed to buy its Philadelphia affiliate from ZGS Communications for $19 million, according to an FCC application seeking approval of the deal.

ZGS purchased WWSI from Hispanic Broadcasters of Philadelphia in 2008 for $10 million. It is licensed to Atlantic City, N.J.

Telemundo is a subsidiary of NBC Universal, which also owns NBC O&O WCAU in Philadelphia. FCC rules permit ownership of two stations in a market if one of the stations is not among the top four rated and if eight separate TV owners will be left in the market after the deal closes. This deal meets both criteria, the parties told the FCC.

ZGS, headed by Ronald J. Gordon of Arlington, Va., owns no other full-power TV stations. However, it owns 14 low-power TV stations and three AM stations around the country.