Sinclair Broadcasting announced on Tuesday it had finalized an agreement to poach NBC affiliate KSNV (Channel 3) from Intermountain West for $120 million.
The deal is subject to be finalized in 2015 and is pending regulatory approval.
“We are pleased to add KSNV to our portfolio,” Sinclair executive Steve Pruett said in a press release on Tuesday. “With the addition of the station, our news footprint will cover all the major cities in the state of Nevada, allowing us to be a leading provider of local and regional news.”
Sinclair currently owns two stations in Las Vegas: CW affiliate KVCW (Channel 33) and MyNetwork affiliate KVMY (Channel 21). In order to comply with FCC regulation regarding ownership of television stations in a single market, Sinclair intends to sell the TV license of one of the stations it currently owns in Las Vegas.
It is unclear which station’s license is up for sale. Sinclair said it intends to use the digital multicasting capability of KSNV and the other station it retains to continue providing Las Vegas with NBC, CW and MyNetwork programming.
For years, former Intermountain West executive Jim Rogers vowed never to sell KSNV, according to Broadcasting & Cable. However, Rogers entered into preliminary talks to sell the station in order to fund an educational foundation prior to his death on June 14.
Sinclair currently owns the FOX affiliate in Reno. The acquisition of KSNV would give the company a significant news presence in Nevada.