CBS Purchase Of WLNY Comes With $55M Price Tag

Details of the pending sale of WLNY to CBS are leaking out, and it looks like CBS is spending more than usual this holiday season.

The company is paying $55 million to purchase Long Island-based independent station WLNY, according to TVNewsCheck. Terms of the deal were not previously disclosed, but were obtained from FCC paperwork filed seeking approval of the purchase.

WLNY will be paired with CBS owned-and-operated WCBS to form a duopoly in New York City. In announcing the deal, CBS Television Stations president Peter Dunn said the “combined strengths” of the two stations will “fuel a significant expansion” of CBS local news in the market.

WLNY is owned by Michael Pascucci.