We knew that Todd Parkin’s PBC Broadcasting was entering its third television DMA with KTKA-TV Topeka KS in a deal brokered by CobbCorp and Kalil & Co. Now we know how much it will cost.
The ABC affiliate is commanding a $1.5M pricetag. $125K of that was paid upfront as earnest money, and the rest will be proffered as cash at closing.
The seller, represented by CobbCorp, is Free State Communications. Thomas Hornbaker signed off on the application, and Dolph C. Simons Jr. of parent The World Company added his name to the actual contract.
According to CobbCorp, the seller is now officially out of the broadcast business, and will concentrate its efforts on publishing, internet and software operations.
For Kalil client PBC, it marks the third DMA.
PBC’s other two stations are Fox WTGS-TV, serving the Savannah GA DMA from across the state line in Hardeeville SC; and ABC WYTV-TV in the Youngstown OH DMA.