Terry London’s London Broadcasting Company is picking up seven television properties in the state of Texas from Bayou City Broadcasting. According to brokerage firm Kalil and Co., the deal includes two full power Fox affiliates and five low power outlets.
The full power stations are KIDY-TV San Angelo and KXVA-TV Abilene.
Also included in the sale are KIDZ-CD, Abilene; KIDU-CD, Brownwood; KIDB-LD, Sweetwater; KIDV-CD, Albany; and KIDT-CD, Stamford.
Terms of the deal were not relesased. McCoy paid $3,037,500 in a deal with Sage Broadcasting Corporation filed with the FCC 2/7/08.
The seller is headed by DuJuan McCoy, a graduate of NAB’s Broadcast Leadership Program. He is also a member of NAB’s TV Board and is Associate Dean of the association’s Leadership Training Program.
“Every employee has done a terrific job growing these properties during very difficult economic times,” commented McCoy. “I appreciate very much the effort they put forth. They are some of the best people I have ever had an opportunity to work with. I am pleased to pass ownership to a quality Texas-based broadcaster like London Broadcasting giving the stations an opportunity to continue to improve with a larger operator. While it was a difficult decision to sell these stations, I intend to pursue other opportunities in the broadcasting industry.”
London will have a 22-station group on his hands with numerous network affiliates once the deal is closed. London’s Texas footprint will include television holdings in Dallas-Fort Worth (DMA #5), Waco-Killeen-Temple-Bryan-College Station (DMA #94), Tyler-Longview (DMA #110), Corpus Christi (DMA #129), Beaumont-Port Arthur (DMA #141), Abilene (DMA #164) and San Angelo (DMA # 197).
London said, “We are extremely honored to have the opportunity to acquire these stations from DuJuan McCoy. He has done an outstanding job of improving the operations since his acquisition of the stations in 2008. We are committed to continue to serve the viewers of Abilene and San Angelo faithfully and honestly by delivering information and entertainment that meets the needs of the local communities. With this acquisition, London Broadcasting will serve 7 of the 19 television markets of Texas reaching 40% of the state population. We are a Texas-based broadcaster focused only on the State of Texas. We like to say we are “Texas Born…Texas Proud…We Are Texas.”
