User blog:Kruejac/BREAKING: Group W buying CBS for $8.7 Billion

Group W, a subsidiary of Krueger Broadcasting, which owns 46 television station across the U.S, all of them affiliated with CBS, announced that it was buying CBS Corporation for $8.5 Billion. As part of the deal, Group W's CBS affiliates will become O&O's of the network, and there will be NO affiliation switches as all of Group W's stations are CBS affiliates. Also, as part of the deal, Krueger Braodcasting CEO kruejac will be the president of CBS Television Stations. " This is a great day for Group W, as we will be the third company in history to purchase a broadcast network. " Also as part of this deal, we will be selling most of our smaller market CBS stations. The deal is expected to close on June 26, 2016.