Feder: Weigel Broadcasting spends $100 million on 2 stations in New York
In a series of transactions totaling nearly $100 million, Chicago-based Weigel Broadcasting has acquired two stations serving the New York market as affiliates for the company's MeTV digital networks, Robert Feder writes.
Weigel officials confirmed Tuesday they bought WJLP, which has been the outlet for MeTV in New York since 2014. The $62.5 million deal will transfer ownership of the station from New Jersey-based PMCM TV, LLC.
In July Weigel paid $35 million for WZME, a station licensed to Bridgeport, Connecticut, that also covers the New York area. It's now an outlet for Weigel's new MeTV Plus digital network.
Together they form a powerful duopoly in the nation's No. 1 market and continue an under-the-radar expansion that recently included purchases in Houston, Seattle and several other large markets, according to NorthEast Radio Watch.