SAN DIEGO (AP) - The owner of KFMB-TV, San Diego’s CBS 8 television station, and 760-AM talk radio station says it is selling its holdings to publicly traded Tegna Inc. for $325 million in cash.
The San Diego Union-Tribune reports Midwest Television has entered a definitive agreement in which Tegna will acquire KFMB-TV and The CW San Diego television properties, as well as talk radio station KFMB-AM 760 and adult rock station KFMB-FM 100.7.
Midwest Television President Elisabeth Kimmel says she was searching for an “excellent steward” for the television and radio stations.
Tegna Chief Executive Dave Lougee called the sale a “marriage of two great broadcasting cultures.”
Tegna owns 46 television stations in 38 cities nationwide. Its only other station in California is KXTV-TV ABC-10 in Sacramento.
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Information from: The San Diego Union-Tribune, http://www.utsandiego.com
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