A Shreveport television station is looking to add a little sister, but it will need an FCC waiver to make it happen. The Wray family’s ABC KTBS-TV has an application in to acquire CW KXPJ-TV for a little over $10.3M. The seller is Minden Television Company, headed at arm’s length by another member of the family, Lauren Wray Ostendorff. If approved, changes would not be too noticeable, as the pair have been linked in an LMA since May of 2004. The price is listed in the contract as $10,309,992. It includes a $70K cash payment with the rest of the value provided in the form of debt assumption. The principals are seeking a failed station waiver, citing poor ratings and poor financials on the one hand, lack of an alternative buyer, and touting their own local roots.
RBR/TVBR observation: The sad truth is that distress will likely be one of the biggest factors in trading as 2009 unwinds.