Standard Media Group has acquired multiple television stations in Arkansas, as well as four other states, in a transaction totaling $59.2 million.
The Nashville, Tenn.-based broadcast company has bought nine television stations from Waypoint Media and Vision Communications. This acquisition includes the FOX and CBS affiliate KJNB-LD and KJNE-LD in Jonesboro.
Standard Media also acquired Waypoint’s news production operations located in Little Rock.
The other television stations that Standard Media acquired include FOX & NBC affiliate WGBC-TV in Meridian, Miss.; FOX affiliate WHPM-LD in Hattiesburg, Miss.; NBC affiliate WNBJ-LD in Jackson, Tenn.; FOX and NBC affiliate WPBI-LD, along with ABC affiliate WPBY-LD, both in Lafayette, Ind.; and FOX affiliate WYDC-TV and MyNet affiliate WJKP in Elmira/Corning, New York.
“This is a bittersweet moment. I love this business that has been so much fun and so kind over a lifetime career in television, but we are pleased that we can place our stations and our staffs in the care of broadcast leaders like CEO Deb McDermott and COO Stan Knott. They are well respected and experienced TV operators who will continue to expand on our mission to serve our local communities by ‘paying it forward’ while providing a great environment for our dedicated staff,” Mike Reed, founder of Waypoint Media, said in a statement.
Fifteen FM and AM radio stations in Indiana and New York are also part of the transaction. These include WAZY-FM, WBPE-FM, WYCM-FM and WSHY-AM in Lafayette, Ind., and WGGO-AM, WMXO-FM, WOEN-AM, WQRS-FM and WZKZ-FM in Olean, NY; and WENI-AM/FM, , WENY-AM/FM, WGMM-FM and WKPQ-FM in Elmira/Corning, New York.
The transaction is slated to close in the first quarter of 2020.
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