Rincon Broadcasting Group is buying all of Standard Media Group‘s stations, which include network affiliates in Nebraska, Kentucky, and Rhode Island.
An equity acquisition agreement filed with the FCC on Sept. 22 calls for Rincon to pay Standard Media parent CNM Television Holdings $50 million “less the aggregate amount of the principal amount and accrued interest outstanding under the indebtedness of the Company and its subsidiaries as of Closing.”
The deal includes CNM’s four stations in three markets:
- ABC affiliate KLKN/8.1 (Lincoln, Neb.)
- ABC affiliate WLNE/6.1 (New Bedford, Mass.-Providence, R.I.)
- FOX affiliate KBSI/23.1 (Cape Girardeau, Mo.-Paducah, Ky.)
- My Network TV station WDKA/49.1 (Paducah, Ky.)
Rincon purchased stations from Sinclair Broadcast Group and Imagicomm earlier this year and currently owns stations in nine markets, including Ottumwa, Quincy-Hannibal, and Milwaukee.
Todd Parkin is Rincon’s sole member.
Standard Media made national news several years ago with its attempt to purchase Tegna, which was withdrawn after the FCC took no action on the application. Under that plan, KLKN would have been spun off to Cox.