Price to build Tidewater television twosome revealed


We knew that CBS was selling its semi-O&O, CW WGNT-TV, to the licensee holding affiliation rights to CBS’s top network – Local TV and its WTKR-TV. Now thanks to a filing with the FCC, we know how much Local TV will be paying.

The transaction is valued at $16.5M cash. Local TV is required to plunk $2.475M into an escrow account and come up with the full price by closing time.

WGNT was the only network O&O in the Norfolk-Portsmouth-Newport News VA DMA. That distinction will come to an end, but Local will join LIN Media as a TV duopoly operator there. LIN owns NBC WAVY-TV and Fox WVBT-TV.

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