Pappas steps aside for new Sioux crew

Waitt Broadcasting's KMEG-TV in Sioux City IA will be going to Alex Aretakis' Siouxland Television LLC. Siouxland is moving in to the option deal originally negotiated by Pappas Telecasting, which maintains a relationship with the station nonetheless via an SSA, JSA and other related operating ties. Kalil & Co. handled the original deal, under which Pappas was to pay Waitt 500K to exercise the option, along with paying 40K annually during its term. Siouxland takes it over for an additional 1K. KMEG is the local CBS affiliate; Pappas owns KPTH-TV, which brings Fox to the DMA.
Note from yesterday's report: WGGB-TV in the Springfield MA market is an ABC affiliate.

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