Southeastern Media Stations to be Sold
Community Newspaper Holdings outlets going to Thomas Henson
By Michael Malone -- Broadcasting & Cable, 1/3/2011 4:28:44 PM
Community Newspaper Holdings Inc. has agreed to sell the four stations in its Southeastern Media group to Thomas Henson for $24 million and the assumption of $50 million in debt. The deal is a stock purchase agreement.
The stations are Fox affiliates WXTX Columbus (GA); WSFX Wilmington (NC) and WFXG Augusta (GA), and CW affiliate WUPV Richmond.
Calls to Community Newspaper Holdings headquarters in Birmingham were not returned. Three of the stations have service agreements with Raycom. A call to Raycom was not returned either.
TVNewsCheck first reported the deal.
Henson is buying the stations through his Southeastern Media Acquisitions company.
Community Newspaper Holdings has announced it is moving to a new facility in Montgomery, Alabama, to a building being built by Retirement Systems of Alabama, later this year or next.
Raycom is also based in Montgomery, and is controlled by Retirement Systems of Alabama.
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