The former CEO of Communications Corp. of America will focus on buying stations in small markets. He’s expected to remain as chairman of the Fox affiliates board.
Steve Pruett Leaves CCA To Start Own Group
Steve Pruett, CEO of TV group owner Communications Corp. of America, has resigned to focus on putting together a small-market TV station group, a company source confirmed today.
Pruett, who is also chairman of the Fox affiliates board, announced his resignation last Wednesday. His last day on the job was Friday, Feb. 1, the source said.
The majority interest in Lafayette, La.-based CCA is owned by Silver Point Capital, a Greenwich, Conn., private equity firm. CCA owns or has agreements with 25 TV stations in 10 markets in Louisiana, Texas and Indiana. The investment banking firm Houlihan Lokey is currently seeking a buyer for the TV stations for Silver Point.
Spokespersons for Silver Point and Houlihan Lokey did not immediately return phone calls.
Pruett is expected to continue as chairman of the Fox affiliates board.