Providence-based LIN TV Corp. announced Thursday it has completed its previously announced acquisition of WNDY, the UPN affiliate serving Indianapolis, Indiana, and WWHO, the UPN affiliate serving Columbus, Ohio from Viacom Inc. for $85 million in cash.
The acquisition was funded with cash on hand and utilizing LIN’s revolving credit facility.
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As a result of the transaction, LIN TV now operates two or more stations in 8 markets: Indianapolis, Hartford-New Haven, Grand Rapids, Norfolk, Buffalo, Providence, Austin and Puerto Rico.
LIN TV Corp. operates 25 television stations in 14 markets. The Company owns approximately 20 percent of KXAS-TV in Dallas, Texas and KNSD-TV in San Diego, California through a joint venture with NBC, and is a 50 percent non-voting investor in Banks Broadcasting, Inc., which owns KWCV-TV in Wichita, Kansas and KNIN-TV in Boise, Idaho. LIN is also a 1/3 owner of WAND-TV, the ABC affiliate in Decatur, Illinois, which it manages pursuant to a management services agreement.
