London Acquiring South Texas' KIII

London Broadcasting Company has announced a deal to acquire
KIII Corpus Christi. KIII is an ABC affiliate airing in south Texas.

KIII is the market leader in DMA No. 129, according to
BIA/Kelsey, pulling in over $10 million last year. It was owned by the McKinnon
family; the formal ownership name was Texas Television.

The sale
price was $31.3 million

The acquisition would mark London Broadcasting's fourth Texas station. Executive VP/COO Phil Hurley said the company is seeking to establish a statewide network to share content on the stations' subchannels. "We really only have interest in Texas markets," he said. "Our whole philosophy is to develop stations in Texas."

"Channel 3 is an outstanding station and market
leader," said London President Terry London in a statement. "As the McKinnons
have done for over 45 years, we are committed to continue to serve South Texas faithfully and honestly.  We are a
Texas-based broadcaster focused only on the State of Texas."

The transaction is subject to FCC approval and is expected
to close before Aug. 31.

Londonclosed on a deal for KBMT Beaumont
from the McKinnon family in the summer of 2009.

Michael Malone

Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.