VIACOM TO ACQUIRE CBS AFFILIATE KOVR-TV 13 SACRAMENTO FROM SINCLAIR BROADCAST GROUP
Purchase Will Give Viacom Television Stations Group Its Ninth Duopoly
Viacom has agreed to purchase CBS Sacramento affiliate KOVR-TV 13 from the Sinclair Broadcast Group, it was announced today by Fred Reynolds, President and Chief Executive Officer, Viacom Television Stations Group. The station, located in the country's 19th largest market, will give the group its ninth duopoly - it already owns Sacramento UPN station KMAX-TV 31. Viacom's other duopoly markets include Los Angeles, Philadelphia, Boston, San Francisco, Dallas, Detroit, Miami and Pittsburgh.
The station is being purchased by Viacom for $285 million. The acquisition is still subject to regulatory approval.
"Acquiring KOVR is a terrific addition to our group," said Reynolds. "Sacramento is one of the fastest-growing areas in the country, and the acquisition of this CBS station will significantly enhance our presence in this very attractive market. We've already established a wonderful station in the market with KMAX, which continues to be a strong competitor in the local news race, and the addition of KOVR will make us even stronger."
KMAX-TV provides five hours of local news every weekday and six hours on weekends. Its weekday morning news broadcast is #2 in the market.
Viacom is a leading global media company, with preeminent positions in broadcast and cable television, radio, outdoor advertising, and online. With programming that appeals to audiences in every demographic category across virtually all media, the company is a leader in the creation, promotion, and distribution of entertainment, news, sports, music, and comedy. Viacom's well-known brands include CBS, MTV, Nickelodeon, Nick at Nite, VH1, BET, Paramount Pictures, Infinity Broadcasting, Viacom Outdoor, UPN, TV Land, Comedy Central, CMT: Country Music Television, King World, Spike TV, Showtime, and Simon & Schuster. More information about Viacom and its businesses is available at www.viacom.com.
The Viacom Television Stations Group consists of 39 stations, including 20 CBS, 18 UPN and one independent station. The group has duopolies in eight markets.