News Brief

NBC Buys KNTV

NBC has signed a definitive agreement to acquire the San Francisco / Oakland / San Jose market-based KNTV television station from Granite Broadcasting Corporation. KNTV, which is located in the nation's 5th largest local television market, will join the 13 other stations already owned and operated by NBC's Television Stations Division and the 11 Telemundo stations slated to join the NBC stations group when the Telemundo acquisition closes in 2002. Under terms of the agreement, NBC will pay Granite $230 MM in cash. The acquisition, which is subject to customary regulatory approvals, is expected to close in the first half of 2002.
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