Barrington Broadcasting has cut a deal to buy 12 TV stations in nine markets from Raycom Media for $262 million.
The deal, subject to regulatory approval, comes after Raycom acquired Liberty Corp.’s station group in February with the promise to sell off stations in 12 markets to comply with FCC restrictions on station ownership.
Privately-held Raycom is trying to focus its station holdings on the Midwest and Southeast. To that end, it is selling Barrington stations scattered throughout the country, including five NBC affiliates, WNWO Toledo, OH; WSTM Syracuse, NY; WPBN and WTOM Traverse City-Cheboygan, MI; and WLUC Marquette, MI. The deal also includes three Fox outlets, WACH Columbia, SC; KXRM Colorado Springs, CO; and WFXL Albany, GA); two UPNs WSTQ Syracuse, NY and KXTU Colorado Springs, CO; one CBS affiliate in KGBT, Harlingen, TX and a single ABC affiliate, KTVO Kirksville, MO.
Barrington currently owns six network affiliates. The proposed deal would bring its total coverage to 3.4% of the country.
“We look forward to building upon the foundation that Raycom's management has established with these stations and working with the Raycom employees and managers at the stations we are acquiring,” Jim Yager, president of Barrington Broadcasting said in a statement. “We believe these properties are a natural extension of our existing portfolio of stations in similarly-sized markets."
Raycom closed its $987 million acquisition of Liberty last month. Along with the 12 stations it is dealing to Barrington, Raycom is also looking to deal KASA Albuquerque and KWWL Waterloo-
Cedar Rapids, IA. It previously sold WWAY Wilmington, N.C., to Morris Communications.