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WJXT's parent company completes purchase of WCWJ, Channel 17

Graham Media Group's 2-station deal valued at $60 million

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JACKSONVILLE, Fla. – The owner of WJXT Channel 4, Graham Media Group Inc., has acquired two television stations, including WCWJ Channel 17 in Jacksonville.

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

"Pairing WCWJ with WJXT creates a powerful duopoly serving the Jacksonville market," Graham Media President Emily Barr said. "WCWJ produces a number of local programs in addition to carrying a terrific lineup of syndicated and CW fare that will be a great complement to WJXT's local news and programming. We could not be more delighted."

WJXT's general manager, Bob Ellis, will manage both Jacksonville stations.

The deal is valued at $60 million in cash and the assumption of some liabilities, including pension obligations. The acquisition was announced last year, but the purchase was approved by the FCC in the last few days.

Graham Media Group will continue to operate both stations under their current network affiliations, the company's third NBC affiliate and first CW affiliate. Graham's seven television stations will reach 8 million households, or just under 7 percent of the nation's television market.

This brings the number of Graham-owned stations to seven, including WKMG, the CBS affiliate in Orlando, the NBC affiliates in Houston and Detroit, and KSAT, the ABC affiliate in San Antonio. Each is in a top 50 market and recognized as new leaders in their communities.

Each station in the group also broadcast digital channels focused on classic television and operate market-leading websites, mobile sites and mobile apps that deliver breaking news, weather and community news, reaching millions of users across each platform. Graham Media Group also owns SocialNewsDesk, a leading provider of social media software solutions used in more than 1,000 newsrooms across 5 continents.