Entravision has entered into an agreement with OTA Broadcasting to acquire two of its stations – NBC affiliate KMIR-TV and NetworkTV affiliate KPSE-LD in Palm Springs for $21 million.
Publicly-traded Entravision will buy the stations with proceeds from the FCC broadcast incentive auction and treat it as a like-kind exchange, following IRS rules.
The transaction, which has to be approved by the FCC, is expected to close in the fourth quarter of 2017.
Entravision sold four TV stations at the auction: WVUN in Hartford, KSMS in Monterey, and WJAL and WMDO-CD in Washington, D.C. for a total of $263,592,981.
The company currently owns and operates Univision, UniMás and Azteca América affiliated television stations in the Palm Springs market, ranked #49 in the Hispanic DMA.
