Exclusive: Communications Corp. of America Puts Stations on Block

Big batch of stations in mid-size markets as another group tests M&A waters

By Michael Malone -- Broadcasting & Cable, 1/14/2013 3:57:48 PM

Communications Corp. of America (CCA) has put its TV stations up for sale, according to two sources with knowledge of the group's plans. CCA owns or operates 25 stations, in Texas, Louisiana and Evansville, Ind. Those include Fox affiliates in Shreveport, Waco and Evansville.

Steve Pruett is the CCA chief executive officer, as well as chairman of the Fox affiliates board. He had no comment on CCA's plans.

Silver Point Capital of Greenwich, Conn., is the majority owner of CCA, which is based in Lafayette, La. Silver Point, through a representative, declined comment.

CCA joins a number of station groups looking into potential divestments, including Fisher Communications and Barrington Broadcasting. After the rich revenues brought on by the 2012 election season, several groups are considering cashing out -- especially those owned by private equity concerns.

CCA has hired investment banking firm Houlihan Lokey to assist in the exploration of options. Houlihan Lokey did not return a call for comment.