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The Journal Gazette

Tuesday, June 11, 2019 1:30 pm

Media dynasty ends with $535 million TV, radio sale

Associated Press

COLUMBUS, Ohio -- The Dispatch Broadcast Group is selling its TV and radio stations in a $535 million deal marking the end of the Wolfe family media dynasty that's influenced Ohio's capital city for more than a century.

Properties sold to TEGNA, of Tysons, Virginia, in the deal include Columbus' WBNS-TV and WBNS-AM and WBNS-FM radio and WTHR-TV in Indianapolis.

TEGNA announced the broadcast sale Tuesday. It follows sale of The Columbus Dispatch newspaper to GateHouse Media for $47 million in 2015. Then-publisher John F. Wolfe died in 2016 at 72.

TEGNA is one of two publicly traded companies created when Gannett Co. split in 2015. It owns 49 TV stations in 41 markets, and is the largest group owner of NBC-affiliated stations and the second-largest group owner of CBS-affiliated stations.