Tuesday, May 08, 2012
Rhode Island-based LIN TV bought New Vision Television's affiliates for $330.4 million, including KOIN-TV in Portland.
As part of the deal, which is pending regulatory approval, the buyer will take on $12 million in debt.
In addition to the Portland CBS affiliate, LIN Media will add stations in Alabama, Kansas, Hawaii, Georgia, Ohio and Iowa. The company said it already reaches 7.3 percent of U.S. television households, and its reach will grow to 10.6 percent with the purchase.
Read more at OregonLive.com.