Editor’s note: This article was originally published July 8, 2014
Gannett Co., owner of Austin ABC affiliate KVUE, has completed its purchase of six Texas TV stations, the company said Tuesday.
The stations in Abilene, Beaumont, Corpus Christi, San Angelo, Tyler and Waco were acquired from Addison-based London Broadcasting Co. as part of a $215 million, all-cash deal announced in May. They are affiliated with four different broadcast TV networks: ABC, CBS, Fox and NBC.
"We’re pleased that the transaction has closed in an accelerated fashion," said Ned Fleming, founder and managing partner of SunTx Capital Partners, the private equity firm that helped form London Broadcasting in 2007. "We commend the Federal Communications Commission and other regulatory bodies for conducting their analysis of this transaction in a most timely manner and for determining that the transaction is in the best interest of consumers and the broader industry."
Combined with KVUE and three other TV stations in Dallas, Houston and San Antonio bought from Belo last year, the newly acquired London Broadcasting stations will help Gannett reach 83 percent of Texas households spread across 10 cities.
The Rio Grande Valley and El Paso are the two largest Texas TV markets where Gannett now lacks a presence.
The Belo deal, which included nearly two dozen stations nationwide, was valued at $2.2 billion.
"The addition of these stations will expand Gannett’s reach into some of the fastest growing markets in the nation and furthers our successful transformation into a diversified multi-media company," Gannett president and CEO Gracia Martore said in a written statement.
London Broadcasting will continue to operate two TV stations located in Dallas and Tyler. Both are independent, meaning they’re not affiliated with any broadcast network.
Gannett in Texas
Stations acquired last year from BeloWFAA, Dallas (ABC)KHOU, Houston (CBS)KENS, San Antonio (CBS)KVUE, Austin (ABC)
Stations acquired this year from London BroadcastingKXVA, Abilene (Fox)KBMT, Beaumont (ABC/NBC)KIII, Corpus Christi (ABC)KIDY, San Angelo (Fox)KYTX, Tyler (CBS)KCEN, Waco (NBC)