Deal Details Emerge On Ramar’s Lubbock Sales


On Monday, a broker release from Kalil & Co. obtained by RBR+TVBR revealed that Ramar Communications has agreed to sell The CW Network affiliate in Lubbock, along with two low-power facilities to Gray Television. Ramar is also selling the FOX affiliate in Lubbock, and its associated Class A facility, to SagamoreHill Broadcasting.

Three days later, details including the value of the concurrent deals, became known.

According to an asset purchase agreement posted by the FCC on Thursday (10/22), KLCW-23, MyNetwork affiliate KMYL-LD 14 and Telemundo affiliate KXTQ-CD 46 are being spun to Gray with additional properties not previously disclosed by broker of record Kalil & Co.

The other stations are KLBB-LD in Lubbock, the MeTV affiliate, and KABI-LD in Snyder, Tex., airing the Heroes & Icons diginet.

This deal is valued at $10 million, and a $1.5 million escrow deposit is being held by Wells Fargo Bank. A $250,000 indemnity escrow payment will be made at closing.

Going to Louis Wall‘s SagamoreHill Broadcasting are KJTV-34 and Class A KJTV-CD, plus previously undisclosed K45IL-D in Hobbs, N. Mex., which rebroadcasts KJTV.

The price Wall is paying? He agreed to a $5 million deal.

RBR+TVBR’s original coverage from Monday, Oct. 19:

Ramar Sells Lone Star TV Quartet, With Two To Gray

A man considered by many to be “a pioneer broadcaster” died on February 11, 2018. Ray Moran, founder of Lubbock-based radio and TV station owner Ramar Communications, was 82.  Now, four Lubbock TV stations associated with Ramar have been sold — and two are going to Gray Television in a transaction brokered by Kalil & Co.