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Industry: Email Alert RSS FeedLIN TV stockholders - acquisition
Television Digest with Consumer Electronics, Jan 12, 1998
LIN TV stockholders Jan. 7 approved purchase by Hicks, Muse, Tare & Furst at $55 per share, for $1.9 billion total. LIN TV board had approved sale Oct. 22 after Hicks, Muse raised bid to counter $1.93-billion offer by Raycom Media (TVD Oct 27 pS). LIN TV owns 8 stations and has local marketing agreements for 4 more.
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Earlier, it had signed letter of intent that NBC would acquire majority interest in LIN's KXAS-TV (Ch. 5, NBC) Ft. Worth-Dallas if deal with Hicks went through (TVD Oct 20 p3). Closing remains subject to FCC approval.
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