MCG backs GMC in Honolulu deal
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GMC Television broadcasting has closed on its acquisition of KGMB-TV in Honolulu from Emmis Communications. Anagrammatically-related MCG Capital has kicked in the dough in the form of financing both debt and equity capital, amounting to 40M, to see that the deal was done. The station brings CBS over Channel 9 to the Honolulu DMA. The deal also includes a pair of satellites, KGMD-TV Hilo HI & KGMV-TV Wailuku HI. By the way, for those of you keeping score at home, GMC stands for Greenlaw-Marshall Communications.
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