The transaction follows the Federal Communications Commission’s (FCC) approval of the acquisition of the Chris Craft Television Stations by Fox, announced earlier in the week. Applications have been filed with the FCC and the closing of this transaction is subject to regulatory approval.
William Moll, President of Clear Channel Television, stated It has long been a goal of Clear Channel to have a television station in our home market. KMOL-TV is an outstanding television station with a long heritage of community service to San Antonio. It will be a terrific addition to our outstanding cluster of San Antonio Radio stations. The addition of KTVX-TV in Salt Lake City gives us the opportunity to join hands with our dynamic radio cluster in one of the nation’s fastest growing cities.
Mark Mays, President and Chief Operating Officer of Clear Channel, commented Although we have regrets about giving up WFTC-TV in Minneapolis, which has been an excellent Fox affiliate, we are pleased to welcome KMOL-TV and KTVX-TV to the Clear Channel family. They will be a great addition to our already strong media presence in San Antonio and Salt Lake City.
