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Gannett has found a new owner for KOCO-TV Oklahoma City and WLWT(TV) Cincinnati: on-theblock Argyle Television Inc. Gannett had pledged to get rid of NBC affiliate WLWT so it could continue to own the Cincinnati Enquirer (B&C, June 24). And in Oklahoma City, Gannett faced crossownership conflicts because it was buying the cable system serving suburban Nichols Hills (B&C, Oct. 16, 1995). Gannett acquired both WLWT and the cable system in July 1995 as part of its $2.3 billion merger with Multimedia Inc.
In exchange for ABC affiliate KOCOTV and WLWT, Argyle will pay Gannett $20 million and swap ABC affiliate WZZM-Tv Grand Rapids, Mich., and NBC affiliate WGRz-TV Buffalo, N.Y. Gannett still ends up with a net 16 TV stations, but its household reach declines to 14.8% from 16% (including other pending deals), a company spokesperson says. Gannett also will lose one of its 92 daily newspapers: the Niagara Gazette, near Buffalo. The value of the deal was not disclosed.
Looked at another way, it's a wash. Gannett is swapping two Vs in Nielsen markets 29 (Cincinnati) and 43 (Oklahoma City) for two Vs in markets 38 (Grand Rapids) and 39 (Buffalo). The deal requires FCC and Justice Department approval.
"WZZM-TV and WGRZ-TV represent...