In November 2020, RBR+TVBR first reported on the October 16 signing of an Asset Purchase Agreement that would see the transfer of ownership of a pair of UHF properties to Soohyung Kim-led Standard Media Group from Sinclair Broadcast Group.
The FCC last week gave its blessing to the sale.
With no comment, the Commission on January 15 granted the assignment authorizations for FOX affiliate KBSI-23 and MyNetwork TV sibling WDKA-49, both of which serve the Cape Girardeau, Mo.-Paducah, Ky. DMA.
They are being spun to Community News Media LLC, a subsidiary of Soo Kim’s Standard Media Group.
Pillsbury Winthrop Shaw Pittman LLP attorneys Scott Flick, representing Kim, and Miles Mason, representing Sinclair, signed off on the $28 million deal.
With the FCC’s approval, closing is now expected to occur.
Soo Kim’s new stations will compete against Gray Television‘s CBS affiliate, KFVS-12; NBC affiliated WPSD-6, owned by locally based Paxton Media Group; and, to a limited extent, Quincy Media-owned ABC affiliate WSIL-3, a Harrisburg, Ill.-based station primarily serving Carbondale that has a translator based in Cape Girardeau.
WSIL is a takeover target, as Quincy has put all of its assets up for sale. Interested parties are said to include Soo Kim.