10. RAYCOM MEDIA, Montgomery, AL
2016 Spot Revenue: $730.8 million Stations: 73 in 43 markets Coverage: 15.5% Ownership: Employee owned Key Executives: Pat LaPlatney, president-CEO; Susana Schuler, EVP content & operations; Sandy Breland, VP television; Don Richards, VP television; Jeff Rosser, VP television; Nick Simonette, VP television; Brad Streit, VP television; David Burke, VP technology; Joe Fiveash, SVP, digital media & strategy; Wayne Freedman, VP sales; Billy McDowell, VP research; Ken Reiner, VP programming; Warren Spector, CFO; Susan Willower, VP human resources.
At the end of June 2016, Raycom’s longtime president-CEO Paul McTear retired. He was succeeded by former SVP Pat LaPlatney who joined Raycom in 2007.
The company made $32.3 million in the FCC’s incentive auction for MNT affiliate WUAB Cleveland, a companion to its CBS affil there, WOIO. Last August, Raycom increased its investment in digital platform company Frankly with a $14.5 million investment and extended it a $1.5 million line of credit.
Raycom and E.W. Scripps in February announced a consortium to develop shows for daytime, early fringe and access. It will offer a combined reach of 29% of U.S. households — including 12 of the top 40 DMAs.
This March, it bought WVUE New Orleans for $51.8 million. Raycom had been operating the Fox affiliate since 2013. In May, the company closed on its $68.5 million purchase of two ABC affiliates — WWSB Sarasota, Fla., and WTXL Tallahassee, Fla.