After 58 years as a family business, Bill Duhamel says it's time to sell KOTA. "The rapidly consolidating television industry makes it difficult for a single, stand-alone business to remain competitive and to develop the necessary capital to expand into the digital era," he said. Acquisition-minded Schurz owns 10 other TV stations. Terms of the deal have not yet been disclosed.
Duhamel Sells Rapid City ABC Affil To Schurz
Bill Duhamel has sold ABC affiliate KOTA Rapid City, S.D. (DMA 173), to Schurz Communications for an undisclosed amount, the two parties announced Thursday.
Included in the deal are satellite stations in Scottsbluff, Neb.; Lead-Deadwood, S.D.; and Sheridan, Wyo.
Schurz already has a presence in South Dakota, owning six radio stations in Rapid City and the American News in Aberdeen. Nationwide, it owns 10 TV stations, three cable companies, seven radio stations and 10 daily newspapers and eight weekly newspapers. It is based in South Bend, Ind.
KOTA has been owned by the Duhamel family since it first went on the air in 1955.
“The rapidly consolidating television industry makes it difficult for a single, stand-alone business to remain competitive and to develop the necessary capital to expand into the digital era,” said Duhamel in a statement.
Todd Schurz, president and CEO of Schurz, said the company’s strategy is to seek top-performing stations in vibrant communities that excel in local news and public service. “There is no question that KOTA fits that criteria with its deep roots in the Black Hills back to Rapid City’s founding. As a family owned company ourselves, we look forward to the opportunity to further extend our relationships in KOTA territory.”
Schurz’ SVP Marci Burdick led the acquisition process. A Rapid City native and former KOTA anchor/news director, she said, “Our goal for KOTA-TV is to expand content across traditional platforms and in the area of new media for the benefit of listeners, viewers and advertisers.”
Duhamel will continue to operate five radio stations in South Dakota.
The sale is subject to FCC approval.