CP Media, LLC of Wilkes-Barre, announced Wednesday the purchase of Pegasus Broadcast Television, Inc. The purchase includes WDSI (FOX), WDSI-DT2 (My Network TV) in Chattanooga.
The purchase also includes WPXT (CW) and WPME (MyTV) in Portland, ME; WGFL (CBS) and WQMY (MyTV) in Gainesville, FL and WTLH (FOX), WTLF (CW) in Tallahassee, FL., and WOLF, WSWB and WQMY in Wilkes-Barre, PA.
The sale will not be complete until approved by the Federal Communications Commission sometime later this year.
CP Media, LLC is a private investment firm led by Charles E. Parente, John Parente and Frank M. Henry.
Pegasus Broadcast television had been operating under a court-appointed trustee since May 2005.
Michael Yanuzzi, Pegasus Broadcast Television President, said, “Our Stations look forward to working with CP Media, LLC. I am thrilled that a local group saw the value in these properties and is committed to help us continue to grow our broadcast properties both here and in our other markets.”
WDSI FOX61 signed on in 1972 as WRIP-TV - an independent station airing movies 24 hours a day. In 1986 WDSI became an affiliate of the FOX Television Network.
Fox61 officials said, "FOX61 has grown into one of the top stations in Chattanooga by bringing viewers the only 10PM newscast and hits like American Idol, House and 24. In addition to producing local sporting events, FOX61 will be home of the BCS (College Football Bowl Championship Series) in January 2007. WDSI FOX61 will continue to provide viewers with the very best in entertainment and sports programming."
In September 2006 WDSI will be the home of the My Network TV affiliate which will be available as a secondary digital station. The My Network TV affiliation will be the only dual broadcast in the Chattanooga area.
Officials said, "My Network will launch a new revolution in primetime television giving viewers new programming six nights a week with their serialized continuing dramas, Desire and Fashion House. My Network will also be home to classic television comedies and dramas as well as movies."