Despite the record purchase price, Group W did not have much interest in financing the station.
Group W decided to expand and syndicate the format to other markets where they didn't own stations.
All of Group W's stations were located within the top thirty television markets.
Group W, which was bought for $1.6 billion, had 1.9 million subscribers.
Within a few years, Group W's other television stations had adopted the format.
Group W will manage the new venture and will own 51 percent of it.
Group W's stations reach only 9.7 per cent of the country.
Group W hopes to eventually reach at least 100 cities by the end of the year.
Group W, for example, earned $203 million last year on $870 million in revenues.
Group W also has interests in cable television.