In June 2018, Gray Television announced that it intended to merge with Raycom Media in a transformative $3.6 billion deal. The transaction was completed at the start of 2019, with the new Gray the owner of 139 full-power properties in markets ranging from Honolulu and Cleveland to Ottumwa, Iowa, and Presque Isle, Maine.
Two radio stations also came as part of the merger. Now, Gray has committed to UHF and VHF signals by saying goodbye to one of these properties in a deal brokered by Kalil & Co.
In a transaction that appeared May 20 among the Form 314 filings made with the FCC, Gray is agreeing to sell KEYU-FM 102.9 in Amarillo, Tex., a 100kw regional Mexican facility.
The buyer? Portland, Ore.-based Alpha Media.
Terms of the deal were not disclosed by Kalil & Co., which distributed an announcement late Thursday. The APA filed with the FCC puts the deal’s value at $250,000.
With KEYU, Alpha Media will now have a third FM to pair with Classic Hits KXGL-FM 100.9 and Country KGNC-FM 97.9, as well as News/Talk KGNC-AM 710. KXGL has been in the Alpha Media family since September 2015, when it closed on its purchase from JMJ Broadcasting Co.; a concurrent deal with Morris Communications’ MCC Radio yielded KGNC-AM & FM.
The sale of KEYU is not surprising. In addition to the TV stations, the Raycom merger included Raycom Sports, a marketing, production and events management and distribution company; Tupelo Raycom, a sports and entertainment production company; RTM Productions, an automotive programming production and marketing solutions company; and Broadview Media, a post-production/digital signage company.
But, it was KEYU-FM and 100kw KTXC-FM 104.7 “La Ley” in Lamesa, Tex., serving the Odessa-Midland market, that stood out as assets that didn’t mesh with what best fit in the Gray stable. They also proved to be anomalies for Raycom, as the company acquired them as part of its purchase of Drewery Communications for $160 million, which closed in December 2015.
Drewery ended up with KTXC in July 2008, when it purchased London Broadcasting.
Who purchases KTXC is now the subject of speculation.