ACME Communications, Inc. announced Tuesday its agreement to sell WBXX
in Knoxville to the Lockwood Broadcast Group for $5.6 million.
The all-cash transaction, subject to approval by the FCC, is expected to
close by the end of 2011. WBXX is currently affiliated with the CW.
Of the sale, ACME President and CEO Doug Gealy said, "The strategic
monetization of this station reflects our focus on maximizing our assets
to the benefit of our shareholders. Lockwood Broadcast Group acquires a
station with a loyal audience base and a solid local management team.
We thank all of our employees at WBXX for their hard work and dedication
over the years."
In September 2010, ACME announced the sale of CW-affiliated stations
WBDT in Dayton to WBDT Television and WIWB in Green Bay-Appleton to Lin
Television Corporation. The aggregate purchase price of the stations was
$11.5 million.
Those sales are still under review by the FCC and are expected to be approved and completed by June.
