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WKMG-TV's parent company buying 2 stations

Graham Media Group's deal valued at $60 million

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ORLANDO, Fla. – The owner of WKMG-TV, Graham Media Group Inc., is adding two television stations, including WCWJ, Channel 17, in Jacksonville.

Graham, a Graham Holdings Company (NYSE: GHC) subsidiary, is also acquiring WSLS, the NBC affiliate television station in Roanoke, Virginia.

The deal is valued at $60 million in cash and the assumption of certain liabilities, including pension obligations. The acquisition is subject to approval by the FCC, other regulatory approvals, and the satisfaction of closing conditions.

Graham Media Group, Inc. will continue to operate both stations under their current network affiliations.

This brings the number of Graham-owned stations to seven, including WJXT in Jacksonville, the NBC affiliates in Houston and Detroit, and KSAT, the ABC affiliate in San Antonio.