Pappas stations draw $260M bid


The United States Bankruptcy Court for the District of Delaware has received the $260M bid of New World TV Group LLC for a substantial chunk of the Pappas Telecasting portfolio. It includes 10 full power stations and numerous low-power adjuncts in eight markets, including two stations each in Fresno-Visalia , San Francisco-Oakland CA; and one station each in Yakima-Pasco-Richland WA,  Houston TX,  El Paso TX, Omaha NE, Sioux City IA, and Greensboro-High Point-Winston Salem NC. The court will convene 12/22/08 in Wilmington DE to decide whether to accept the bid. There are no other bids in competition.

The buyer is backed by the Fortress lender group. Trustee Roger Williams said an LMA contract has already been submitted so that the new owner can begin operating the stations immediately upon receiving court approval.

The stations 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