Judge gavels in Pappas sale


New World will be the new owner of what’s left of the Pappas Telecasting group, and that’s plenty. The courts have approved the sale to the tune of $260M. The order came from the Honorable Peter J. Walsh of the US Bankruptcy Court for the District of Delaware. New World is backed by Fortress Credit Corp., Cerberus Capital management and Angelo Gordon & Co. The group was shepherded through the process by trustee E. Roger Williams. During this period, $3M in potential cost savings were identified, along with plans to redistribute existing equipment to stations where they’d be better utilized.

The stations in the group include:

* KMPH-TV Fresno-Visalia CA (Visalia CA), Fox [plus KMPH-CA/KMPH-LD Merced-Mariposa CA]

* KFRE-TV Fresno-Visalia CA (Sanger CA), CW

* KTNC-TV San Francisco-Oakland CA (Concord CA), TuVision

* KUNO-TV San Francisco-Oakland CA (Fort Bragg CA), TuVision [plus KDSL-CA Ukiah CA]

* KCWK-TV Yakima-Pasco-Richland WA (Walla Walla WA), CW [plus KCWK-LP Yakima WA]

* KAZH-TV Houston TX (Baytown TX), TuVision

* KDBC-TV El Paso TX, CBS [plus KCWO-CA Silver City NM, KCWF-CA Las Cruces NM, KKNJ-LP Alamogordo NM]

* KPTM-TV Omaha NE, Fox [plus KKAZ-CA, KKAZ-LD Omaha NE]

* KPTH-TV Sioux City IA, Fox [plus KPTP-LP/KPTP-LD Norfolk NE]

* WCWG-TV Greensboro-High Point-Winston Salem NC (Lexington NC), CW