A three-way deal should yield control of ABC affiliate KSPR to go along with its existing NBC affliate in the market, KYTV.
Schurz Communications is putting together a virtual ABC-NBC duopoly in Springfield, Mo., acquiring partial control of ABC affiliate KSPR to complement its current NBC affiliate, KYTV.
Schurz is part of a three-way deal also involving seller Piedmont Television and local marketing consultant and former broadcaster Bill Perkin.
Schurz is buying the physical assets of KSPR from Piedmont, while Perkin acquires the “intellectual property” and the FCC license. Schurz and Perkin have agreed to co-manage the station.
The deal, which is subject to FCC approval, was announced late last week in a joint press release, which did not reveal the financial terms. The parties said they expect to go to closing in the first quarter of next year.
FCC ownership rules prohibit Schurz from owning both stations outright.
Despite those rules, Schurz will not have the first virtual duopoly in town. Nexstar Broadcasting runs two stations in the market through its ownership of Fox affiliate KSFX and its management and financial control of CBS affiliate KOLR, which is licensed to Mission Broadcasting.
Piedmont is a nine-station group, operated by CEO Paul Brissette.
“This is a great opportunity for KSPR to continue its success in Springfield,” said Brissette. “We are fortunate that we were able to find such ideal buyers in Perkin Media and [Schurz].”
Mike Scott, general manager of KYTV, said, “It is our goal to build on the successes of KSPR in a way that will bring greater value to the community. Needless to say, we are extremely excited about this new relationship with Perkin Media that will allow this to occur.”
Said Perkin: “We are committed to operating the station to the benefit of the community and advertisers.”
Springfield is the second big deal for Schurz this summer. Earlier, it agreed to purchase KWCH, the CBS affiliate in Wichita, Kan., from Media General for $73 million.
In addition to KYTV, Schurz is currently the owner of three other full-power stations: WAGT Augusta, Ga.; WSBT South Bend, Ind.; and WDBJ Roanoke, Va.