CORAL GABLES, FLA. — The evening of Dec. 6 will see Telemundo‘s top communications executives celebrate the holidays with key members of the press at a holiday party.
One thing the NBCUniversal arm will be celebrating is the addition of stations in the Sacramento and Salt Lake City DMAs.
An asset purchase agreement dated November 28, filed with the Commission on Thursday (12/6), indicates that NBC and Telemundo, via five licensee names, is agreeing to take O&O situations in the mid-sized markets.
The seller is Serestar Communciations Corp., along with the Philip C. Wilkinson Family Trust.
If that name is familiar, it is because Wilkinson served as President/COO of Entravision Communications from January 1996 through June 2013, when he formed Serestar.
The 74-page APA is wordy, as it involves multiple licensee names. However, the basics are clear: Telemundo will have owned-and-operated stations in Salt Lake City, home to a growing Spanish-speaking populace, and in the Sacramento-Stockton-Modesto DMA.
The deal sees Telemundo gaining:
- KMUM-CD 31 in Sacramento
- KCSO-LD 3 in Sacramento
- KMMW-LD 28 in Stockton
- KTMW-20 in Salt Lake City
- KULX-CD 14 in Ogden, Utah
- K17II-D in Logan, Utah
- KULU-LD 16 in Park City, Utah
The price: $21 million. A $2.1 million escrow payment has been made to Wilkinson’s company.
The deal is comprised of a $1.8 million “real property” payment in Sacramento, and a $700,000 payment for “real property” in Salt Lake City.
The remaining $18.5 million reflects the licenses for the TV stations.
The Sacramento station acquisitions give Telemundo an added O&O situation in Northern California, as it already is the licensee of KNSO-51 in Merced, serving the Fresno DMA.
For Stockton-based KMMW-LD, Wilkinson has filed a displacement application seeking a new channel for the station, in connection with the FCC’s broadcast incentive auction.