Walter F. Ulloa, Chairman and Chief Executive Officer of Entravision
Entravision Communications Corporation announced that it has entered into an agreement with OTA Broadcasting (PSP), LLC to acquire stations KMIR-TV, the NBC affiliate, and KPSE-LD, the MyNetworkTV affiliate, serving Palm Springs, California, for US$21 million.
The transaction, which is subject to customary closing conditions, including the prior consent of the Federal Communications Commission, is expected to close in the fourth quarter of 2017.
“Palm Springs is a growing and vibrant market that we know very well and have served for more than 20 years. Our existing television and radio assets located in the market have helped us build strong relationships with the Palm Springs community and our local news programming, Noticias Ya, is highly rated. We are excited to add KMIR’s impactful and significant local news presence to our portfolio in Palm Springs. This is a strategic transaction that is extremely attractive on a financial basis, allowing us to broaden the services we provide the Palm Springs market and positions us to continue to build on the success of KMIR and KPSE,” said Walter F. Ulloa, Chairman and Chief Executive Officer of Entravision.
Entravision currently owns and operates the UniMás and Univision affiliated television stations (KVER-CD, KEVC-CD, and KVES-LD) and 94.7 FM Jose and 103.5 FM Tricolor radio stations (KLOB-FM and KPST-FM) serving the Palm Springs, CA market, which is ranked #146 in total population and #49 in Hispanic population.
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