CBS sells WFRV to Liberty Media

[DoctorBear]

CBS has sold WFRV Green Bay/WJMN Escanaba (satellite station) to Liberty Media. According to the GB Press-Gazette, CBS is swapping the stations and $170 million in cash for 7.59 million shares of CBS common stock held by Liberty Media. WFRV is valued at $64 million, according to Bloomberg News.

 

[genius]

Interesting CBS just sold off about seven smaller market stations which included KUTV and KEYE to a private equality firm last week. Now this means Baltimore at Market #24 is the smallest market CBS has an O&O in with WJZ. NBC sold off their smaller market O&Os last year, I wonder if ABC is next(who have O&Os in Fresno, Flint, and Toldeo)?

 

[Tim-In-Houston]

I wonder if ABC is next(who have O&Os in Fresno, Flint, and Toldeo)?

I doubt it. ABC is well under the FCC ownership cap while both NBC (with its Telemundo stations) and CBS (with its former UPN/Paramount stations) were at or slightly above the cap.

Still, one has to wonder what is going on at CBS to make them so jittery to sell.

 

[genius]

Your right; I checked and CBS is(or was until these two sales) at 38.9%, followed by Fox at 38.5%. ABC is only at 23.5%, which is lower than Paxon and Tribune...not sure about NBC, as the numbers I have on me I believe are before the Media General sale and NBC's Telemudo purchases in Denver and Boston.