NBCUniversal doubles in Philadelphia with Telemundo outlet
WCAU-TV is the NBC O&O in the Philadelphia DMA, and it soon be paired with a second O&O: Telemundo WWSI-TV, which brings the Hispanic network into the DMA from Atlantic City NJ. ZGS Communications is the seller.
ZGS is headed by Eduardo A. Zavala and Ronald Gordon. Robert S. Pick signed off on the transaction for NBCU.
The price for the station will be $20M, with $1M going into escrow, and $1M credited to NBCU for upgrade expenses. The rest will be due in cash at closing.
ZGS attested to the fact that the station is carried on all Philadelphia MVPDs that have more than 5,000 Hispanic subscribers.
The deal will provide ZGS with a significant return on its investment – in fact, the face value of the station is doubling in just over five year. It was acquired from Hispanic Broadcasters of Philadelphia pursuant to a 12/2/07 contract. The price back then: $10M.
ZGS signed on as an affiliate of Telemundo in March of 2008.