Raycom Acquires Drewry Stations for $160 Million
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.
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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.