Tribune Media Co. (TRCO) announced the sale of its CW network affiliation in Indianapolis to Media General, Inc. (MEG), with the acquisition beginning on January 1, 2015. Specific financial terms of the transaction were not disclosed.
"We are pleased to have reached this agreement, which is financially accretive to Tribune Media and good for The CW network with whom we remain a strong partner," said Peter Liguori, Tribune Media's President and CEO.
Earlier, Tribune Media had agreed with CBS Corp. (CBS) for the CBS affiliate in the Indianapolis area to begin broadcasting on Tribune Media's WTTV (Channel 4) as of January 1, 2015.
Following the Tribune Media-CBS deal, the CW was scheduled to move from its current location on Channel 4 to Tribune Media's digital multicast channel WTTV 4.2. This move would have resulted in a loss of about half of The CW's Indianapolis household distribution since .2 networks are not carried by telecom or satellite providers in this market.
Today's announcement does not impact Tribune Media's remaining 13 CW affiliated stations.
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