NBC 24/51 Owner Considers Sale

The owner of NBC 24/51 is considering selling the television station, said David Needham, general manager of 24/51, which has offices in Fayetteville and Fort Smith and uses the call letters KPOM/KFAA.

“There has been a lot of interest in this station,” Needham said. “Basically, the ownership has come out and told us we are going to explore this interest.”

The interest has apparently been fueled by population growth projections and a recent study from the Milken Institute that labeled Northwest Arkansas as the No. 1 metropolitan statistical area in the country for economic growth.

Needham said the Federal Communications Commission wouldn’t allow a company to own more than 35 percent of the television stations in the country, but Congress may soon change that rule to allow ownership of 45 percent. Also, the regulations concerning joint ownership of newspapers and television stations is also being reworked.

“There are some people having conversations,” Needham said pertaining to a possible sale. “Our staff is going to explore it, but it’s going to depend on how many zeros are behind [any offer]. If the demand is there and the dollars are right, you’d be a fool not to take it seriously.”

NBC 24/51 is the only locally owned television station in the Northwest Arkansas market. It is owned by Griffin Holdings Inc. of Muskogee, Okla. In addition to also owning television stations in Oklahoma, the Griffin family owns Griffin Food Co., which makes jams and jellies. KFSM, Channel 5, is owned by the New York Times Co., and KHBS/KHOG, Channels 40/29, is owned by Hearst-Argyle Television Inc.

NBC 24/51 canceled its local newscast in 1992 but resumed it in 2000 after a $5 million investment in the operation by the owner. The restart included a new newsroom in the Campbell-Bell building on the downtown Fayetteville square.