Channel 5 buys Channel 3’s Phoenix studios for $9.9 million

By Mike Sunnucks | Phoenix Business Journal

KPHO Broadcasting Corp. has bought the Phoenix studios of KTVK Inc. for $9.9 million. KPHO-TV CBS 5 will move it operations into the KTVK-TV Channel 3 studios on 7th Ave.

The property sale is part of an acquisition of KTVK by KPHO’s parent company, Meredith Corp. KPHO General Manager Ed Munson said Channel 5 will relocate its broadcasting, advertising and other operations to the larger Channel 3 studios over the next year. “It’s going to happen over time,” Munson said.

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August 7, 2014

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