Nashville’s WTVF NewsChannel 5 Network will be sold to Journal Communications, a Milwaukee, Wisconsin based company. Subject to FCC approval, Journal will purchase the CBS affiliate from Landmark Media Enterprises for $215 million in cash plus a working capital adjustment at closing.
Journal Communications owns and operates or provides programming and sales services to 35 radio stations and 14 television stations in 12 states. It publishes the Milwaukee Journal Sentinel, and several community newspapers and shoppers.
NewsChannel 5 Network consists of NewsChannel 5 (WTVF), NewsChannel 5+, a This TV affiliate (D3) and NewsChannel5.com, a market leading local digital news site. According to a press release, WTVF is the ratings and revenue market share leader in the Nashville market, as well as one of the top three CBS affiliates in the nation based on CBS ratings in metered markets. The station has been recognized with awards including: 2012 DuPont, 2011 National Headliner, 10 regional 2012 Emmy awards, 2011 NPPA National Photographer of the Year, and five 2011 AP Awards including Best Investigation.
Based in Norfolk, VA, Landmark owns CBS affiliate KLAS-TV in Las Vegas, data center provider Continental Broadband, and several newspapers.