Gannett will buy six Texas TV stations from...
Gannett will buy six Texas TV stations from London Broadcasting for $215 million, Gannett said in a news release Wednesday (http://bit.ly/1qDGCZv). The purchase will provide new markets for Gannett’s digital marketing services group and further Gannett’s “transformation into a diversified…
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multi-media company,” said Gannett CEO Gracia Matore in the release. The new stations are expected to generate around $50 million revenue in 2014, the release said. After the closing, current London Broadcasting Chief Operating Officer Phil Hurley will jump to Gannett to lead the six stations, the release said. The deal is not expected to run afoul of FCC ownership rules, a Gannett spokesman told us. The stations involved are NBC affiliate KCEN-TV Temple, CBS affiliate KYTX Longview, ABC affiliate KIII Corpus Christi, NBC affiliate KBMT Beaumont and its digital sub-channel KJAC, Fox affiliate KXVA Abilene and KIDY San Angelo, Gannett said. The deal is expected to close this summer, Gannett said.