Byron Allen’s Allen Media Group closed its $70 million cash acquisition of the Flint-Sagniaw, Mich. station from Gray Television on Thursday.
The FCC last Friday approved SJL Holdings’ purchase of two small-market ABC O&Os, WJRT Flint, Mich., and WTVG Toledo, Ohio. Upon closing, ABC will get $16.8 million for WTVG and $13.2 million for WJRT. The deal had been announced last November.
George Lilly, a broadcast veteran who’s just agreed to buy two stations from ABC, says the time is right to be buying again. He thinks we’ve seen the end of the recession and is bullish on what the future holds for expanding local TV’s revenue streams, ranging from retransmission consent money, to online growth as well as mobile. “We just see upside potential.”
SJL Holdings is paying $30 million for two ABC small-market stations — $16.8 million for WTVG Toledo and $13.2 million of WJRT Flint, according to an FCC filing. ABC had announced the deal to sell the O&Os earlier this month without divulging the price.
The Walt Disney Co. has made an agreement to sell the two smallest O&Os in its 10-station ABC Owned Television Stations Group — WJRT Flint, Mich., and WTVG Toledo, Ohio — to the stations’ former owner SJL Broadcasting.