Palm Beach CBS affiliate WPEC along with the rest of the television stations its parent company Freedom Communications owns, has been sold to Sinclair Broadcasting. The deal, announced today and pending regulatory approval, is worth $385 million dollars for all eight TV stations in Freedom’s portfolio, the largest of which is WPEC.
With WPEC Sinclair Broadcasting will now have a duopoly in the Palm Beach market having already aquired CW affiliate WTVX with the purchase of Four Points Media in September 2011. Getting a regulatory approval will probably be a breeze since according to current duopoly rules, in order for a company to own two stations in the same market there must be at least 8 full power stations in that market and one of the two stations in the duopoly can not be ranked in the top 4. WPEC is often second or third in ratings while WTVX ranks below WPBF.