Headed by Terry London and backed by a private equity firm, London Broadcasting has agreed to pay $25 million for the ABC affiliate serving Tyler-Longview. The deal is subject to FCC approval.
Slowly building a group of small-market Texas TV stations, London Broadcasting Co. has agreed to buy Michael McKinnon’s ABC affiliate in Beaumont-Port Arthur, Texas (DMA 141), KBMT, for $25 million, according to an FCC filing seeking approval of the deal.
London Broadcasting also owns KYTX Tyler-Longview, Texas (DMA 110), a CBS affiliate, and it has won FCC approval to purchase NBC affiliate KCEN Waco-Temple-Bryan, Texas (DMA 94), but has not yet closed on it.
London paid Max Media $25 million for KYTX and has agreed to pay Anyse Sue Mayborn $26 million for KCEN.
Last summer, it also agreed to acquire several TV and radio stations in Texas from Drewry Communications, but it subsequently informed the FCC that it had scrubbed the deal.
McKinnon also owns KUSI, an independent in San Diego.
London Broadcasting is headed by Terry London, former CEO of Gaylord Entertainment, but owned by a private equity firm, SunTX Capital Partners, of Dallas.