Gannett will buy 6 more TV stations

Gannett | USA Today

Gannett has agreed to buy six television stations in Texas from London Broadcasting Company for $215 million in cash, the company announced Wednesday. The stations, from Gannett’s press release: “KCEN (NBC) in Waco-Temple-Bryan, KYTX (CBS) in Tyler-Longview, KIII (ABC) in Corpus Christi, KBMT (ABC) and its digital sub-channel KJAC (NBC) in Beaumont-Port Arthur, KXVA (FOX) in Abilene-Sweetwater and KIDY (FOX) in San Angelo.”

In a statement, Gannett CEO Gracia Martore said, “With more than 70% of London Broadcasting’s advertising revenues driven by local advertisers, this acquisition will provide us access to attractive new markets in which we believe our local digital marketing services group, G/O Digital, will thrive.”

Gannett purchased Belo’s television stations last year, adding 20 stations to its broadcast group. Its revenue from broadcasting doubled in the first quarter of 2014 over the same period the year before.

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  • Richard Michem

    In the long term this might end up being a bad investment for Gannett. With more people switching to watching shows on their Computer and the back lash against their has been paying just to watch open air TV stations, and the technology for viewers to get a good picture and station for little money or free, is going to eat in future stocks growth and profits.