Gannett Closes on London Six-Pack - Broadcasting & Cable

Gannett Closes on London Six-Pack

Completes acquisition of six Texas stations for $215 million
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Gannett has completed its acquisition of six Texas-based London Broadcasting stations for $215 million. The stations are KCEN Waco-Temple-Bryan, KYTX Tyler-Longview, KIII Corpus Christi, KBMT and subchannel KJAC in Beaumont-Port Arthur, KXVA Abilene-Sweetwater and KIDY San Angelo.

The deal was announced in May. Phil Hurley, London Broadcasting chief operating officer, will continue to oversee the six stations as a senior VP, reporting to Dave Lougee, president of Gannett Broadcasting. The stations, a mix of NBC, CBS, ABC and Fox affiliates, are expected to generate revenue of approximately $50 million in 2014.

The deal gives Gannett 83% of households across Texas. Its holdings in the state also include WFAA Dallas, KHOU Houston, KVUE Austin and KENS San Antonio. “The company's broadcasting presence in the high-growth state of Texas is further expanded,” Gannett said in a statement.

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