Emmis Closes TV Station Sale

Business News

TSC and IRIS Staff

09/01/06 - 10:54 AM EDT

Emmis(EMMS Quote) completed the sale of WKCF-TV in Orlando, Fla., to Hearst-Argyle Television(HTV Quote) for $217.5 million.

The company will use the net proceeds of the sale, about $206 million, to repay outstanding indebtedness.

The company continues to own 50% of "The Daily Buzz," a syndicated weekday news program produced in the WKCF studios, with partner ACME Communications(ACME Quote), and will retain the WKCF building.

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