Speaking of Telemundo, what if NBC Universal buys KPRC-TV? I bet the Channel 47 operations will be moved from the North Loop to Sharpstown, necessitating the extra space. The new building may never be built in that case.
Have my doubts that NBC Universal is interested in KPRC. The networks appear to be edging away from broadcast TV station ownership.
I think KPRC will eventually be merged into a duopoly with another Houston station, and KTMD could be that partner. However, such a duopoly would not need the bigger building. TV stations are operating on smaller staffs these days, and technological change means less space is needed for equipment.
A combined KPRC/KTMD would eliminate duplicate staffing, and would have common management, sales, and engineering. There would be a single newsroom, with mostly bilingual staff producing content for both stations. Such a newsroom would have a few more staffers than either station has individually, but far less than the present combined total. Bilingual multimedia reporters would shoot and edit for both stations.
You would have to have two studios, due to newscasts airing simultaneously, and two production control rooms. However studio cameras are all robotic, so no added staff there, and the control room is just a producer and automation director (in the near future producers will code and run the automation by themselves, eliminating the need for a director.)
Master Control for both channels would be outsourced to a hub elsewhere in the country, so no need to have space for that. And traffic departments (on-air scheduling) are being centralized as well.
In fact, the two channels could be combined on the current RF 35 transmitter for KPRC. The current RF 48 spectrum of KTMD could be auctioned off (for huge $$$) for cellular/broadband use (the channel would have to move anyway as everything above 35 is going to be repacked anyway.)
Cox would be a good fit for Graham Media. Both KPRC-TV and KSAT are in the only Texas markets Cox Radio serves. This acquisition would definitely fit in their vertical integration strategy.
I still think Graham Media Group is a sitting duck for an acquisition. They are too small in today's media environment. Lots of potential suitors.