Operator of small-market affiliates strikes deal to acquire three more in Bismarck, Fargo and Sioux Falls.
Hoak Media is expanding its collection of small-market affiliates, agreeing to acquire three more such stations from Wicks Television: KFYR Bismarck, N.D. (NBC, DMA 160), KVLY Fargo, N.D. (NBC, DMA 118) and KSFY (ABC, 114) Sioux Falls, S.D.
Terms of the deal, which also includes several satellite stations, were not disclosed.
“The acquisition of these stations is a natural extension of our existing portfolio of properties in similar sized markets,ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€šÃ‚Â said Eric Van den Branden. “We are looking forward to working with the existing employees in each of these stations to continue and enhance their commitments to local news and their communities.ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€šÃ‚Â
The seller is affiliated with The Wicks Group of Companies, JPMorgan and Halyard Capital.
Hoak Media, founded by Van den Branden and Jim Hoak, also owns KAUZ Wichita Falls, Texas (CBS, DMA 144); KREX/KREG/KREY Grand Junction-Montrose, Colo. (CBS, DMA 187); KHAS Hastings, Neb. (NBC, 103); and KNOP North Platte, Neb. (NBC, DMA 209). It also manages KFQX Grand Junction-Montrose (Fox, DMA 187).
Kalil & Co. brokered the deal.