Quincy Newspapers Inc., a private, family-owned media company headquartered in Quincy, Ill., will be adding nine stations in four markets to its broadcasting portfolio.
Quincy has entered into a definitive agreement to acquire the broadcast assets of three stations from Granite Broadcasting Corp. and one station owned by Malara Broadcasting. Additionally, Quincy will provide operating services to four other stations. The transaction is subject to federal regulatory approval. The closing is expected later this year.
Terms were not disclosed.
The acquired stations are WEEK (NBC) Peoria/Bloomington, Ill. (DMA 117); WPTA (ABC-CW) Fort Wayne, Ind. (DMA 109); KBJR (NBC-MNT) and its satellite, KRII, in Duluth, Minn.-Superior, Wis. (DMA 139); and WBNG (CBS-CW) Binghamton, N.Y. (DMA 157).
In addition to owning and operating the newly acquired stations, Quincy will provide operating services to several stations: WHOI (ABC-CW) and WAOE (MNT-ATV) Peoria/Bloomington, Ill. (DMA 117), as well as stations to be acquired by SagamoreHill Broadcasting: WISE (NBC-MNT) Fort Wayne, Ind. (DMA 109) and KDLH (CBS-CW) Duluth, Minn.-Superior, Wis. (DMA 139).
“We are thrilled to acquire these stations as well as the operating agreements for the others,” said Ralph M. Oakley, president-CEO of Quincy and a fifth generation family member in the company. “Our company is committed to the communities and regions it serves by providing the best in local news, community affairs and entertainment. We also are strong supporters of social service and nonprofit organizations in our markets.”
In addition to the primary business of over-the-air television, Quincy operates an interactive division that works with its stations to provide community websites, social sites, mobile sites and interactive marketing solutions.
As a result of the acquisition, Quincy will now own and/or operate 23 stations in 14 markets. Its existing stations include NBC affiliates in Quincy and Rockford, Ill.; Sioux City and Waterloo, Iowa; Rochester, Minn., and Bluefield, W.Va. It has ABC affiliates in Madison, La Crosse-Eau Claire and Wausau, Wis.; and Fox affiliates in Quincy and South Bend, Ind. It also operates a Fox affiliate in Rochester, Minn., under a shared services agreement.
Several Quincy stations also have affiliations with the CW, MeTV, ThisTV and Live Well.
In addition, QNI owns and operates two radio stations and a newspaper in Quincy along with a newspaper in Newton, N.J.
SagamoreHill Broadcasting, a privately held company, is led by President-CEO Louis Wall. Operating stations either through direct supervision or shared agreements, SagamoreHill broadcasts through WLTZ (NBC-CW) Columbus, Ga.; KZTV (CBS-Telemundo) Corpus Christi, Texas; WNCF (ABC) Montgomery, Ala.; and KXLT (Fox-MeTV) Rochester, Minn.
Wall commented, “We believe the communities of Duluth and Fort Wayne are just terrific and will provide great opportunities for SagamoreHill Broadcasting to extend our presence in the Midwest.”
Wells Fargo Securities acted as exclusive financial adviser to Quincy on the transaction.