Sinclair Broadcasting to buy Channel 62

Sinclair Broadcasting to buy Channel 62 Last five years brought UPN affiliation Fox kids’ network Royals By BARRY GARRON TV Critic Sinclair Broadcasting announced this week that it will exercise its option to buy KSMO Channel 62 for SI8 million Assuming the license transfer wins expected federal approval the Baltimore-based broadcasting company will begin operating the station in about four months Sinclair will purchase the station from ABRY Inc which bought it five years ago for S10 million ABRY sold Sinclair an option to buy the United Paramount Network affiliate about 1 Vi years ago General manager Jim MacDonald told station employees of the move Monday afternoon and told them that based on Sinclair's acquisition history he was the only employee likely to be released Under MacDonald w ho joined the station in May 1988 Channel 62 grew from an impoverished independent station with inadequate facilities and equipment to a significant force in the local broad cast and advertising community During his tenure the station added Royals broadcasts and other sports contests affiliated with UPN and began carrying the Fox Children's Network That in turn made the station the most popular in town with children and many sports fans Ad revenues grew from S4 million to an expected SI 7 million and the number of viewers tripled "Sinclair's practice has been to fire the general manager no matter how strong the station is and we are now one of the premiere independent stations in the country" MacDonald said Dave Smith Sinclair chairman and chief executive could not be reached for comment Industry observers said Sinclair's purchase of Channel 62 was a bargain because it was based on revenues earned before the station enjoyed a huge ratings spurt Based on operating income a more realistic price for the station today would be about S60 million In addition to Channel 62 Sinclair also will exercise its option to purchase another ABRY station WSTR-TV in Cincinnati for S22 million

The Kansas City Star

Sinclair Broadcasting to buy Channel 62

Sinclair Broadcasting to buy Channel 62

The Kansas City Star