Raycom Media has completed its $160 million purchase of Drewry Communications. The acquisition, announced in August, bolsters Raycom Media’s national household share to over 14%.
With the addition of ABC affiliate KSWO in Lawton, the deal adds the state of Oklahoma to the Raycom Media’s portfolio. In addition, the company’s presence in Texas is strengthened by adding ABC affiliate KXXV in Waco, CBS affiliate KFDA in Amarillo and NBC affiliate KWES in Midland-Odessa. The acquisition also includes Telemundo affiliates in each market.
“Drewry is a remarkable opportunity to deepen our roots in Texas,” said Paul McTear, Raycom Media president and CEO. “This is a group of market leaders; each with a strong presence not only on the broadcast side of the business but also in digital and Spanish-language platforms. We are excited to welcome their talented team members into the Raycom Media Family.”
The closing continues a fruitful quarter for Raycom Media; in early October, the company closed on its purchase of Scripps’ Fox Affiliate KNIN in Boise, Idaho.
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