KSNB-TV once brought Fox programming to Lincoln as a satellite of an Omaha station, but it was orphaned in 2009 and has fallen on hard times. Gray Television is seeking a waiver to own it alongside its CBS KOLN-TV.
The seller is Colins Broadcasting Corporation, headed by Thomas F. Mitts. Gray is headed by Hilton H. Howell Jr. and Robert S. Prather Jr.
The price for the station will be $1.25M, including a $100K advance and the balance in cash at closing.
In addition to KOLN, Gray owns satellite KGIN-TV Grand Island NE.
KSNB is licensed to Superior NE, and the deal also includes two translators licensed to Lincoln – KWAZ-LP and K18CD-D.
The station at one time was a satellite for a Fox station in the Omaha market owned by Pappas, but that arrangement evaporated 12/1/09. The owners attempted to operate it as an independent aimed at the local Lincoln and Superior audiences, but have been bleeding cash.
The station lost $137K in 2010, $72K in 2011 and has lost $158K through the first ten months of 2012.
Gray is seeking a failing station waiver to acquire KSNB, promising that it will restore it to good health and thereby serve the local public interest.