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U.S. markets recover from steep losses
PROVIDENCE, R.I., Oct. 19 (UPI) -- InterMedia Partners LP has agreed to pay $130 million to buy LIN TV Corp.'s Puerto Rico television operations.
The stations being sold in the all-cash deal include WAPA-TV, a full-power independent station, and WJPX-TV, an independent station branded as MTV Puerto Rico, as well as WAPA-America, a U.S. Spanish-language cable channel that uses the news and entertainment programming produced by the Puerto Rico stations.
"The sale of LIN TV's Puerto Rico assets will sharpen our focus on our continental U.S. strategy and we expect that it will also improve our leverage profile," Vincent L. Sadusky, LIN TV's chief executive, said Thursday in a statement.
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