Raycom Acquires Drewry Stations for $160 Million

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Raycom Media has agreed to acquire the Drewry Communications stations for $160 million. Raycom’s advanced interest in the acquisition was reported in B&C in June.

The Drewry family's stations include KXXV Waco, KFDA Amarillo and KSWO Lawton (Okla.).

The deal is subject to regulatory approval.

Raycom is also acquiring KAUZ Wichita Falls from Hoak Media and spinning it off to American Spirit, which will enter into a shared services agreement with Raycom.

Kalil & Co. brokered the deal.

Michael Malone
Michael Malone

Michael Malone is content director at B+C and Multichannel News. He joined B+C in 2005 and has covered network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television, including writing the "Local News Close-Up" market profiles. He also hosted the podcasts "Busted Pilot" and "Series Business." His journalism has also appeared in The New York Times, The L.A. Times, The Boston Globe and New York magazine.