In a memo to employees, Telemundo President Don Browne announced that NBC is selling WKAQ channel 2 in Puerto Rico, the station that started the Spanish-language network as well as KWHY-22 in Los Angeles.
The L.A. station had originally been independent, until Telemundo network bought it, before being bought out themselves by NBC. That had been a point of contention, because NBC was the only network to have a triopoly in one market, defying FCC rules.
Below is the memo Don Browne sent out just an hour ago to employees.
From: Browne, Don (NBC Universal, TLMD)
Sent: Tuesday, October 09, 2007 11:05 AM
To: @NBC UNI TLMD Employees
Subject: Today’s NBCU announcement regarding Oxygen Media
This morning NBC Universal announced the acquisition of Oxygen Media.
This is an important opportunity that is in line with Jeff Zucker’s overall strategy about investing in areas positioned for high-growth.
The Oxygen purchase will be substantially self-funded by selling two Spanish language stations — KWHY in Los Angeles and WKAQ in Puerto Rico . While these have been strong, historic, independent stations owned by Telemundo, going forward, our station strategy is to focus on the growth of our domestic owned and operated Telemundo network stations which continue to perform and are a tremendous asset in NBCU’s portfolio.
Additionally, through the sale of KWHY, we are able to resolve the issues we faced with the FCC over the rule prohibiting the ownership of three local stations in one television market. We will continue to serve this important market through our owned and operated flagship station, KVEA.
While this is obviously an exciting announcement for NBC Universal, it is a bittersweet one for the Telemundo family. WKAQ was founded over 50 years ago as the first Telemundo station and KWHY has been a member of our family for many years as well. These stations will always be a part of our Telemundo legacy.
