FCC OKs Drewry Sale To Raycom Media

The FCC has approved the sale of six Texas stations in a deal that will quadruple the number of stations Raycom Media has in Texas. The $160 million purchase will likely be completed Dec. 1.

Raycom Buying Drewry For $160 Million

The deal comprises six stations in Texas in Waco (KXXV), Amarillo (KFDA-KEYU), Odessa-Midland (KWAB-KWES) and Wichita Falls (KSWO), plus a second station in Wichita Falls (KAUZ)  that Raycom is buying from Hoak Media and then spinning off to American Spirit, which will enter into a shared services agreement with Raycom, under which KSWO will provide news, production services, administrative support and equipment and building space to KAUZ.