London Broadcasting has agreed to acquire seven Texas TV
stations from DuJuan McCoy's Bayou City Broadcasting. The stations -- a mix of
Fox and MyNetworkTV affiliates, and full and low power -- are KIDY San Angelo,
KXVA-KIDZ Abilene, KIDU Brownwood, KIDB Sweetwater, KIDV Albany and KIDT
Stamford.
McCoy acquired the stations in 2008 when he was part of the
NAB's Broadcast Leadership Program.
Terms of the transaction were not disclosed. The deal is
subject to FCC approval and is expected to close by the end of the year.
London said the acquisition will enable it to reach 40% of
Texas households.
"We are extremely honored to have the opportunity to
acquire these stations from DuJuan McCoy," said Terry London, president of
London Broadcasting. "He has done an outstanding job of improving the
operations since his acquisition of the stations in 2008. We are committed to
continue to serve the viewers of Abilene and San Angelo faithfully and honestly
by delivering information and entertainment that meets the needs of the local
communities."
McCoy says he's not exiting broadcasting. "I am pleased
to pass ownership to a quality Texas-based broadcaster like London Broadcasting
giving the stations an opportunity to continue to improve with a larger
operator," he said. "While it was a difficult decision to sell these
stations, I intend to pursue other opportunities in the broadcasting industry.
