The long-rumored sale of Channel 7 may be completed as early as Monday as one potential buyer has come forward.
The E.W. Scripps Co. announced Friday it is in talks with Granite Corp. “over the possible acquisition of two Granite TV stations.”
It didn’t identify which two stations, but WKBW-TV and WMYD-TV in Detroit are expected to be the stations.
The News first reported more than two months ago that Scripps had people looking at Buffalo’s ABC affiliate.
There are a couple of interesting aspects about the release. First, it is unusual for a company to tell people a deal may be coming. Secondly, Scripps is only interested in two of Granite’s stations.
Granite, which is now owned by a hedge fund manager, has stations in eight markets. It is expected that another buyer will be announced for several of the other stations.
The brief Scripps statement concluded by saying “that no deal has been made with Granite, but Scripps will follow up with another announcement once the outcome is determined.”
That could happen as soon as Monday.
Reached Sunday afternoon, Channel 7 General Manager Mike Nurse declined to comment.
Scripps owns 19 local television stations, as well as newspapers in 13 cities.
Channel 7 hasn’t had the news department resources to compete with Channel 4 and Channel 2 since the hedge fund took over.
Like LIN Media and Gannett Broadcasting, which own Channel 4 and Channel 2, respectively, Scripps has resources to be competitive.