Updated at 1:45 p.m., Tuesday, February 20, 2007
Emmis selling KGMB-TV for $40M to Virginia company
Advertiser Staff
Emmis Communications Corp. today announced it is selling KGMB-TV to a Virginia-based company for $40 million.Emmis said that HITV Operating Co., a unit of MCG Capital Corp. of Arlington, Va., will complete its purchase during the first half this year.
Indianapolis-based Emmis purchased KGMB-TV with seven other network-affiliated stations in October 2000 from Lee Enterprises. Emmis sold sister station KHON-TV last year to California-based Montecito Broadcast Group.
