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The Honolulu Advertiser

Posted at 11:13 a.m., Tuesday, October 10, 2006

KGMB owner in 'deep discussions' with potential buyer

Advertiser Staff

The owner of KGMB said it is holding talks with a potential buyer for the local television station.

In a conference call with analysts today, Jeff Smuylan, chairman and chief executive officer of Indianapolis-based Emmis Communications Corp. said the company is in "deep discussions" with investors for KGMB. He did not name the potential investors.

Since May 2005, Emmis has sold 14 of its 16 TV stations, including local television station KHON. The Office of Hawaiian Affairs previously explored purchasing KGMB but did not submit an offer.