KRNV-TV Sold to Sinclair Broadcast Group
Reno's NBC affiliate, KRNV-TV, has a new owner.
Sinclair Broadcast Group announced today that it "closed on the acquisition of the non-license assets" of channel 4 from Intermountain West Communications for $26-million.
A news release from Sinclair says, "The purchase price represents a 5.2x multiple of the average 2012-2013 cash flow including synergies".
The release also says Sinclair "entered into an agreement to operate or provide sales services to the station."
Sinclair owns, operates, programs or provides sales services for 164 TV stations in 77 markets across the United States.
Earlier this year, Sinclair also bought Reno television stations KRXI and KAME.
Sinclair also says, "We expect to drop our San Francisco news share on our FOX station (KRXI) and replace it with a local Reno newscast."