The Federal Communications Commission unanimously approved on February 17 , the transfer of television station KSDK, St. Louis, from the Pulitzer Publishing Company to Multimedia, Inc., in exchange for WFBC-TV, Greenville, S.C., and WXII-TV, Winston-Salen, N.C.
Multimedia will pay the Pulitzer Company $5,250,000 and reimburse the Pulitzer Company $3,000,000 for equipping the new KSDK studios at 1000 Market Street.
The seven FCC commissioners denied petitions objecting to the transfer submitted by the Black Media Coalition and the St. Louis Broadcasting Coalition. They said the petitioners failed to provide a basis for denying the application.
Joseph Pulitzer, Jr., chairman and chief executive officer of the Pulitzer Publishing Company, said, "KSDK has a long and illustrious history under our management as a pioneer TV station west of the Mississippi." He added that the Pulitzer Company entered into the agreement to comply with FCC policies opposing media concentration in individual markets. The agreement had been reached in principal two years ago.
(Originally published in Ad/Mag 3/1983).