SAN DIEGO – Family owned for more than a half-century, KFMB-TV and its co-owned San Diego radio stations are being sold to national broadcast company Tegna for $325 million, the McLean, Virginia-based purchaser announced Monday.
Tegna used to be part of Gannett, but was spun off as the owner of the media firm’s broadcasting operations in 2015. Tegna owns 46 TV stations throughout the nation, making it one of the largest owners of broadcast properties. The name Gannett remained with the firm that ended up owning print publications, including USA Monday.
Tegna is acquiring KFMB-TV, the longtime affiliate of the CBS network broadcasting on Channel 8. The station also just started an affiliation with The CW network on a digital channel and cable. The sale also includes rock station KFMB-FM and talk station KFMB-AM, all from family-owned Midwest Television, pending regulatory approval by the Federal Communications Commission.
The San Diego TV market is the country’s 29th largest, with 1.1 million households. It is the 17th largest radio market.
Tegna’s 46 TV stations are in 38 markets. Its stations reach about one- third of all television households nationwide, according to the company.
The deal is expected to close in the first quarter of 2018.