07.02.2008 11:57 PM
Journal Communications Agrees to Pony $8 Million for KNIN-TV
The Journal Communications (NYSE:JRN) broadcast division has agreed to buy KNIN-TV in Boise, Idaho for $8 million. The Milwaukee-based media group already owns the local ABC affiliate in the city, KIVI-TV, making for a TV duopoly in the market. Journal also owns six radio stations in Boise.
“The acquisition of KNIN is on strategy and gives us an opportunity to build out cross-platform businesses in Boise, one of the country's fastest growing markets,” said Doug Kiel, vice chairman and CEO of Journal Broadcast Group.
The transaction was brokered by Kalil & Co., Inc.