Cox Media Group’s Boston station WFXT will reportedly have new ownership as Standard General, which plans to acquire Tegna, adds the television station to anchor its new station group, per TVSpy.
Standard General and Cox Media Group stated they plan to undergo a multi-step process to complete the deal. First, CMG will receive the station group presently owned by Standard General’s affiliate, Community News Media LLC, and then a Standard General affiliate will acquire WFXT.
Following the closing of those two dealings, the Standard General affiliate will acquire Tegna in a take-private deal that Standard General and Tegna announced.
CMG will then proceed to purchase Tegna’s Austin, Tx. station, KVUE, Dallas stations, WFAA and KMPX, and Houston stations, KHOU and KTBU.
“We appreciate the many contributions of our dedicated station employees and are confident that they will have great futures at CMG, an exceptional broadcast group with a strong commitment to the communities it serves,” Soo Kim, Founding Partner of Standard General L.P., said.
The CNM stations to be acquired by CMG in the first part of the deal are:
KBSI (Fox) – Cape Girardeau, Mo.
KLKN (ABC) – Lincoln, Neb.
WDKA (MyNet) – Paducah, Ky.
WLNE-TV(ABC) – New Bedford, Mass.
“We will be pleased to welcome the strong talent at CNM and at Tegna’s stations in Austin, Dallas, and Houston into the CMG family,” CMG president and CEO Dan York said.
“The opportunity to grow in these CNM and Texas markets further complements CMG’s existing core strengths. We will miss the dedicated team at WFXT Boston25, but we know they will form an ideal foundation for Standard General’s new company and its further growth.”
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
