We knew that Duhamel Broadcasting Enterprises has decided to exit the television business, and that the buyer making this possible is Schurz Communications. Now we know the value of the deal.
The key station in the sale is KOTA-TV Rapid City SD. Also in the package are three full-power satellite stations in three states: KDUH-TV, Scottsbluff, NE; KHSD-TV, Lead-Deadwood, SD; and KSGW-TV, Sheridan, WY.
The price will be $10M cash.
At the time the deal was announced, Todd Schurz, President/CEO of Schurz Communication said, “Our acquisition strategy is to seek out top-performing stations in vibrant communities which excel in local news and public service. There is no question that KOTA fits that criteria with its deep roots in the Black Hills back to Rapid City’s founding. As a family owned company ourselves, we look forward to the opportunity to further extend our relationships in KOTA Territory”.
Schurz operates a radio cluster in the area: it includes four stations licensed to Rapid City: KFXS-FM, KKLS-AM, KKMK-FM & KOUT-FM; and two licensed to Sturgis SD: KBHB-AM & KRCS-FM.
