Tegna buys San Diego’s KFMB-TV, radio stations for $325M

SAN DIEGO – The owner of KFMB-TV, San Diego’s CBS 8 television station, and 760-AM talk radio station says it is selling its holdings to publicly traded Tegna Inc. for $325 million in cash.

The San Diego Union-Tribune reports Midwest Television has entered a definitive agreement in which Tegna will acquire KFMB-TV and The CW San Diego television properties, as well as talk radio station KFMB-AM 760 and adult rock station KFMB-FM 100.7.

Midwest Television President Elisabeth Kimmel says she was searching for an “excellent steward” for the television and radio stations.

Tegna Chief Executive Dave Lougee called the sale a “marriage of two great broadcasting cultures.”

Tegna owns 46 television stations in 38 cities nationwide. Its only other station in California is KXTV-TV ABC-10 in Sacramento.

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Information from: The San Diego Union-Tribune, http://www.utsandiego.com