WWSI-TV Atlantic City NJ, part of the expansive Philadelphia PA Nielsen DMA, is now officially part of the Telemundo Group, which is part of NBCUniversal, which is part of Comcast. The station was already an affiliate of the Hispanic network/station group.
The seller was ZGS Communications Inc., headed by Eduardo A. Zavala and Ronald Gordon, among others. The deal was filed with the FCC back in March.
The price: $20M cash.
The corporate family already has NBC O&O WCAU in the DMA, and the city has been the headquarters for Comcast for some time.
Telemundo says the station is #16 in the portfolio, serving markets throughout the US and Puerto Rico.
An upgrade involving installation of a new antenna is expected to expand the station’s off-air reach, and a now local Spanish-language news service is on the drawing board for a January 2014 launch.
“The acquisition of our affiliate WWSI further demonstrates our commitment to the local communities we serve,” said Manuel Abud, President, Telemundo Station Group. “We look forward to continue strengthening ties with our viewers in the Philadelphia DMA and providing them with a richer and engaging experience.”
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.
