While the FCC has approved the sale of KBWB Channel 20 and a Detroit UHF station to former Channel 2 General Manager Kevin O’Brien (pictured), the $150 million deal hasn’t closed yet. The seller, Granite Broadcasting, is scrambling to line up financing to keep it from entering into Chapter 11, according to Broadcasting and Cable Magazine’s Web site. According to B&C, Granite has reached an agreement for additional financing but the arrangement isn’t final. Until then, it appears the sale of the two stations is in limbo. O’Brien, who helped build Channel 2 into a ratings powerhouse in the 1990s, is leading a group of four investment banking firms that want to buy the two stations. His group received FCC approval June 23.

SF Press Club News

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