CBS strikes deal to buy WLNY-TV New York
CBS Corp. has struck an agreement to acquire WLNY-TV, a small independent television station serving New York City and the surrounding areas.
The deal will give CBS two television stations in the nation's No. 1 market. CBS already owns WCBS-TV, which is the flagship station for the broadcast network.
“The combined strengths of CBS 2 and WLNY-TV will give us a terrific platform for serving the entire New York area," said Peter Dunn, the president of CBS Television Stations.
CBS's Dunn said the company would add "people and resources to fuel a significant expansion of local
news programming" beyond the half-hour WLNY currently airs. WLNY's call sign stands for "We Love New York," it is known for primarily serving Long Island.
The deal may raise eyebrows at Tribune Co., parent of WPIX-TV New York (and owner of the Los Angeles Times). WPIX is an affiliate of the CW Network ("Gossip Girl," "The Vampire Diaries,"), which is co-owned by CBS and Time Warner Inc. By owning another station in the market, CBS and Time Warner could potentially have a new home for the CW down the road.
However, that may be a long way off. Tribune's current affiliation with CW doesn't expire until 2016.
CBS joins Comcast Corp.'s NBC and News Corp.'s Fox in owning two stations in New York City. Federal Communication Commission regulations allow a broadcaster to own two stations in big and medium-sized cities.
-- Joe Flint