The sale of WTHR-TV in Indianapolis has been finalized in a cash deal worth $535 million. Virginia-based broadcast company TEGNA Inc. (NYSE: TGNA) announced it has completed the acquisition of Dispatch Broadcast Group’s TV and radio stations in Indy and Columbus, Ohio.
WTHR and its sister station in Columbus, WBNS-TV, have long been powerhouse television stations in the Midwest.
“WTHR and WBNS are broadcasters of the highest caliber, and a natural fit for TEGNA as we expand our portfolio of Big Four affiliates in top markets,” said Dave Lougee, president and CEO of TEGNA. “These acquisitions further enhance our commitment to excellence in local journalism while creating value for our shareholders.”
In addition to the TV stations, Tegna also purchased WBNS radio in Columbus.
The deal marks TEGNA’s second major acquisition this year. In March, the company announced a $740 million deal for 11 television stations in eight markets.