Spanish-Language TV OKs Sale
From Associated Press
Spanish International Communications Corp. agreed today to be acquired by Hallmark Cards Inc. of Kansas City, Mo., and First Capital Corp. of Chicago for $301.5 million in cash and notes.
SICC, the largest operator of Spanish-language television stations in the nation, has run afoul of the Federal Communications Commission for allegedly being controlled by foreign interests in violation of U.S. law. Among the five major stations involved in the sale are KMEX-TV in Los Angeles and KFTV in Fresno.
