London Broadcasting Signs a Definitive Agreement to Acquire Fox Affiliates in Abilene and San Angelo From Bayou City Broadcasting
Tuesday, September 25, 2012
DALLAS, Texas—London Broadcasting Company announced today that it has signed a definitive agreement to acquire Texas television stations KXVA-TV, Abilene; KIDY-TV, San Angelo; KIDU-CD, Brownwood; KIDB-LD, Sweetwater; KIDV-CD, Albany; and KIDT-CD, Stamford, from Bayou City Broadcasting, LLC, a company controlled by DuJuan McCoy. The stations broadcast the Fox Television Network and MyNetworkTV to the viewers in the Abilene and San Angelo regions of Texas.
As measured by A.C. Nielsen Company, the Abilene market is the 164th television market in the US and serves 312,000 people in 117,000 households. San Angelo is the 197th television market in the US and serves 147,000 people in 57,000 households.
Terry E. London, President of London Broadcasting, commented: “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.”
Bayou City Broadcasting, LLC, is a Houston-based company owned and operated by DuJuan McCoy, President and CEO. Mr. McCoy acquired the stations in 2008 while he was still a participant in the National Association of Broadcasters-Broadcast Leadership Program (BLT) a 10 month Executive MBA style program for aspiring owners. Mr. McCoy has also been appointed to the National Association of Broadcasters-Television Board of Directors, and is an Associate Dean of the National Association of Broadcasters-Broadcast Leadership Training Program based in Washington, DC.
Mr. McCoy said, “Every employee has done a terrific job growing these properties during very difficult economic times. 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.”
The transaction is subject to FCC approval and is expected to close prior to December 31, 2012.
Committed to Broadcasting and Texas With this agreement, London Broadcasting will operate a total of 22 channels in the State of Texas including affiliates of NBC, ABC, Fox, CBS, MeTV, CW, MyTV and MundoFox 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 Broadcasting will serve over 10 million Texans in 3.8 million households, representing approximately 40% of the Texas population. We believe we are 5th largest broadcaster in the state, but the largest mid-market broadcaster. The Company also owns 41 Entertainment and BE Music and Entertainment, which produce original television and music content.
EVP & COO
London Broadcasting Company, Inc.
5052 Addison Circle • Addison, TX 75001