Raycom Media today announced that its anticipated $160 million purchase of Drewry Communications is complete. The acquisition dramatically increases the company’s presence in Texas, adds Oklahoma to its portfolio and strengthens Raycom Media’s national share in households to more than 14%, the company said.
“Raycom Media’s addition of the Drewry stations grows the company’s share of Texas to 1.27 million television households, or close to 14% of the Lone Star state. Raycom Media already owns NBC affiliate KCBD in Lubbock, along with ABC affiliates KTRE and KLTV in Lufkin and Tyler, respectively,” the company’s announcement notes.
In the announcement, Paul McTear, Raycom Media President and CEO, says: “Drewry is a remarkable opportunity to deepen our roots in Texas. 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 announcement adds: “The newly acquired television stations include ABC affiliate KXXV in Waco (DMA 87), CBS affiliate KFDA in Amarillo (DMA 131), ABC affiliate KSWO in Lawton, OK (DMA 147), and NBC affiliate KWES in Midland-Odessa (DMA 145). The deal also includes Telemundo affiliates in each market and Spanish-language radio stations in Odessa-Midland, KTXC-FM and Amarillo, KEYU-FM. As part of the deal, CBS affiliate KAUZ in Wichita Falls (DMA 147) will be sold to American Spirit and will enter into a shared services agreement with Raycom Media.”
The acquisition continues Raycom Media’s effort to expand beyond its traditional footprint in the Southeast.