Byrne Grabs Acme's Madison CW Station$1.8 mil deal as Acme eyes quick exit 12/13/2011 10:30:30 PM Eastern
Acme Communications has agreed to sell WBUW Madison to Byrne Acquisition Group for $1.8 million.
Byrne owns WHHI in Hilton Head, S.C. The deal is subject to regulatory approval and is expected to close in the second quarter.
Following the sale of WBUW, a CW affiliate, Acme will own television stations KWBQ and KASY in Albuquerque-Santa Fe, along with KRWB, KWBQ's full-power satellite in Roswell, and The Daily Buzz.
"The sale reflects our continued focus on prudently liquidating our remaining assets," said Doug Gealy, Acme president and CEO. "We want to thank our Madison employees for their dedicated services in a difficult operating environment and believe that the Byrne family will provide a new and transforming chapter in the station's life."
Byrne Acquisition Group President John Byrne said, "We are more than excited to bring our broadcast experience to WBUW and their dedicated team of employees. We are looking forward to serving the community and the viewers of WBUW and the Madison market."