Communications Corp. of America (CCA) has put its TV
stations up for sale, according to two sources with knowledge of the group's
plans. CCA owns or operates 25 stations, in Texas, Louisiana and Evansville,
Ind. Those include Fox affiliates in Shreveport, Waco and Evansville.
Steve Pruett is the CCA chief executive officer, as well as
chairman of the Fox affiliates board. He had no comment on CCA's plans.
Silver Point Capital of Greenwich, Conn., is the majority
owner of CCA, which is based in Lafayette, La. Silver Point, through a representative,
CCA joins a number of station groups looking into potential
divestments, including FisherCommunications and Barrington Broadcasting. After the rich revenues brought
on by the 2012 election season, several groups are considering cashing out -- especially
those owned by private equity concerns.
CCA has hired investment banking firm Houlihan Lokey to
assist in the exploration of options. Houlihan Lokey did not return a call for
The television industry's top news stories, analysis and blogs of the day.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.