Categorized | TV & Radio

Telemundo’s purchase price for ZGS stations is $75 million

Telemundo-ZGSTelemundo has filed several applications with the FCC seeking approval of its acquisition of 13 ZGS television stations and the documents show the purchase price is $75 million in cash.

The filings also detail terms of the transaction, including Telemundo’s intent to retain the majority of ZGS current employees and plans to have five stations – Washington, D.C., Hartford, Providence, Springfield and Richmond – participate in pre-closing local marketing agreements (LMSs) starting January 1, 2018.

“Transferred employees” will have to meet Telemundo’s conditions for employment to hold on to their jobs after the transaction goes through. ZGS will be responsible for any severance or other obligations to employees not hired by Telemundo.

Telemundo cashed in hundreds of millions of dollars during the FCC broadcast incentive auction. So why is it now buying low power stations?

An assessment on the reasons for the acquisition and more details about the transaction are available on Forbes.

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- who has written 4693 posts on Media Moves.

I'm an Emmy award-winning journalist, who's worked as an on-air reporter in Spanish and English-language television news. I've worked for Univision, Telemundo, CNN en Español and Los Angeles Fox and UPN stations before diving into a convergence model at the San Jose Mercury News. I have also held management positions in the online digital sphere - first as Managing Editor of IntersectionsSouthLA.org, followed by a role as the West Coast Web editor for impreMedia. I was president of the National Association of Hispanic Journalists from 2004 to 2006. I am also a freelance writer, reporter and producer. I founded Media Moves in June of 2007.

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I'm an Emmy award-winning journalist, who's worked as an on-air reporter in Spanish and English-language television news. I've worked for Univision, Telemundo, CNN en Español and Los Angeles Fox and UPN stations before diving into a convergence model at the San Jose Mercury News. I was president of the National Association of Hispanic Journalists from 2004 to 2006, and inducted into the Hall of Fame in August of 2016. As an online news manager, I was West Coast Web Editor for impreMedia and Managing Editor of IntersectionsSouthLA.org. In addition to running Media Moves, which I founded in June of 2007, I'm a regular contributor to Forbes and also do freelance work as writer, reporter and producer.
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