TEGNA to Acquire KFMB Stations

Virginia-based TV station group owner TEGNA yesterday announced their agreement with KFMB Stations owner Elisabeth Kimmel to take over KFMB-AM-FM-TV for $325-million cash. Since the group doesn’t currently own any radio stations, it’s likely TEGNA will spinoff the radio stations at a future date. It’s not yet known whether the sale includes the valuable real estate under their Kearny Mesa, Mt. Soledad and Santee facilities.

Elisabeth is the third-generation of Meyer family owners of KFMB who bought the stations in 1964 from Jack Wrather, creators of Lassie and The Lone Ranger.

Because of its independence and lack of debt, the stations have traditionally spent more than its competitors in the market. They have traditionally led the San Diego market in overall news ratings and have the most employees.

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