NBC sells KWHY-TV Los Angeles to local businessman Alex Meruelo
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NBC Universal has struck a deal to sell KWHY-TV, one of its Spanish-language stations based in Los Angeles, to Meruelo Group, an investment company headed by Alex Meruelo with holdings in real estate and construction.
The station, which carries Latino programming and will continue to do so under its new ownership, is being sold so NBC Universal is in compliance with Federal Communications Commission rules, which don’t allow for a company to own three stations in one city. The company, which is in the process of being taken over by cable giant Comcast Corp., already owns KNBC-TV and the Telemundo station KVEA-TV.
‘We are honored to be the only Latino-owned station in Los Angeles, and look forward to continuing KWHY’s proud tradition .... while at the same time establishing KWHY as a powerful business partner to advertisers across Southern California,’ said Alex Meruelo, in a statement.
Besides his construction and real estate operation, Meruelo also owns the La Pizza Loca restaurant chain.
The deal will need to be approved by the FCC, and until then the station will be put in a trust.
-- Joe Flint