Jim Yager’s three-year-old TV group triples from six to 18 stations with purchase of 12 stations in nine markets. Price: $262 million.
With the purchase of 12 TV stations from Raycom Media, Barrington Broadcasting Corp.becomes a significant player among TV station groups. Upon FCC approval and closing of the $262 million deal, Barrington would own 18 station reaching 3.4% of U.S. TV homes.
“We look forward to building upon the foundation that Raycom’s management has established with these stations and working with the Raycom employees and managers at the stations we are acquiring,” said Barrington President Jim Yager. “We believe these properties are a natural extension of our existing portfolio of stations in similarly-sized markets.”
The deal deal includes five NBC affiliates (WNWO Toledo, Ohio; WSTM Syracuse, N.Y.; WPBN and WTOM Traverse City-Cheboygan, Mich.; and WLUC Marquette, Mich.), three Fox affiliates (WACH Columbia, S.C.; KXRM Colorado Springs, Colo.; and WFXL Albany, Ga.), two UPN affiliates (WSTQ Syracuse, N.Y. and KXTU Colorado Springs, Colo.), one CBS affiliate (KGBT Harlingen, Texas) and one ABC affiliate (KTVO Kirksville, Mo.).
Formed in 2003 to aggregate medium-market stations, Barrington has done just that. Since early 2004, it has purchased six others: KHQA Quincy, Ill.-Hannibal, Mo.; WHOI Peoria-Bloomington, Ill.; WEYI Flint-Saginaw-Bay City, Mich.; KRCG Columbia-Jefferson City, Mo.; KVII Amarillo, Texas, and WPDE Myrtle Beach, S.C.