We reported several months ago that Cox, long-time owner of Pittsburgh’s WPXI-TV (11), was looking to get out of the smaller markets including Steubenville and Johnstown. FTVLive is reporting that the two NBC affiliates – WTOV-TV (9 Steubenville) and WJAC-TV (6 Johnstown) – and two FOX affiliates elsewhere are headed to Sinclair. Sinclair owns Pittsburgh’s WPGH-TV (53) and WPMY-TV (22).
UPDATE: Tom Taylor NOW is reporting in the daily newsletter today that the deal is worth $99 Million minus $4.3 million in working capital adjustments. Meanwhile, Cox obtained $106 million when it sold 26 radio properties in 6 markets.