Granite reaches new deal to sell TV 20 Detroit

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Channel 20 Detroit has been sold by Granite TV to the newly formed DS Audible Detroit, LLC for $84,250,000 pending FCC approval and closing. The station, which changed its call sign from WDWB to WMYD yesterday, will become an affiliate of FOX's new My Network TV this fall after being an affiliate of the WB network since that network's launch in 1995. The WB and UPN will be shutting down and forming a new joint-venture network to be named The CW which will also launch this fall. Detroit's CW affiliate will be CBS-owned WKBD-TV 50, the current UPN affiliate.

DS Audible will also be acquiring Granite's KBWB Channel 20 in the deal, which is worth a total of $150 M. A previous agreement to sell WMYD for $97.5 M to AM Media, announced in September 2005, has been terminated. DS Audible San Francisco, LLC and DS Audible Detroit, LLC are special purpose entities created by affiliates of the investment firms of Canyon Capital Advisors, LLC, D.B. Zwirn & Co., L.P., Fortress Investment Group and Ramius Capital Group.

 

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This page contains a single entry by Mike Austerman published on May 8, 2006 6:01 PM.

Metro Detroit: Newsmakers May 8, 2006 was the previous entry in this blog.

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