Post-Newsweek Stations may be close to announcing the purchase of WTVJ, NBC Universal's owned-and-operated NBC station in Miami, according to a Tuesday (July 15) report in the Miami Herald. If so, the acquisition would give Post-Newsweek, which owns WPLG, the ABC affiliate there, a duopoly in the 16th largest TV market.
The station could fetch as much as $350 to $400 million, money NBCU could use to offset its recent purchase of The Weather Channel.
Earlier this year NBCU announced its intent to sell the Miami station, as well as WVIT its owned-and-operated station in Hartford, Conn. NBC would keep its Telemundo station in Miami, WSCV. Following the sale of the two stations, NBCU would be left with eight owned-and-operated NBC stations, seven in the top 10 markets.
NBCU put the stations on the block not long after it combined all its local assets, including TV stations and out-of-home into a single Local Media division.
The Federal Communications Commission would have to approve the deal. FCC rules allow duopolies as long as one of the stations is not one of the top four-ranked stations. WPLG is No. 1 in the market overall; WTVJ is sixth, according to the Herald.