In the FCC sales application, seller Piedmont says the price of its Springfield, Mo., ABC affiliate will be shared by two parties–local marketing consultant Bill Perkin and Schurz Communications, which will run the station as a duopoly with its NBC affiliate, KYTV.
Schurz Communications and Springfield, Mo., marketing consultant Bill Perkin are paying $20.6 million to acquire KSPR, the ABC affiliate in Springfield (DMA 76), it was revealed in FCC filings yesterday. Through agreements with Perkin, Schurz will operate the station in tandem with its NBC affliate in the market, KYTV.
The parties had announced the deal to create the ABC-NBC duopoly two weeks ago without divulging the price. The deal is subject to FCC approval.
According to the filings, Schurz is putting up $10.6 million of the purchase price for certain physical assets, while Perkin is paying $10 million for the FCC license, programming agreements and intellectual property. Under various agreements with Perkin, Schurz will supply news programming to KSPR and sell all the advertising.
Jack Goodman, the FCC attorney for Schurz, said that Schurz has an option to purchase Perkin’s assets and is guaranteeing a loan for Perkin.
The deal is just one of the ways broadcasters have found to circumvent the FCC’s ban against one broadcaster owning two top-rated stations in markets as small as Springfield. The FCC has approved such arrangements in the past.
Springfield is the second big deal for Schurz this summer. It has also purchased KWCH, the CBS affiliate in Wichita, Kan., from Media General for $73 million.
In addition to KYTV and KWCH, Schurz owns three other full-power stations: WAGT Augusta, Ga.; WSBT South Bend, Ind.; and WDBJ Roanoke, Va.
Piedmont is a nine-station group, operated by CEO Paul Brissette.