Raycom Media is in advanced negotiations to acquire Drewry Communications, according to multiple sources. The purchase price is said to be around $150 million, according to a person close to the discussions. The stations include KXXV-KRHD Waco, KFDA-KEYU Amarillo (Texas), KSWO-KSWX Wichita Falls-Lawton (Texas-Okla.) and KWAB-KWES Odessa-Midland (Texas).
Raycom did not return calls for comment at presstime. Larry Patton, KSWO general manager and group senior VP, said, “I can’t really comment on that.”
Kalil & Co. is said to be brokering the transaction. Kalil broker Frank Higney would not comment.
Three sources said Sinclair made an offer previously, but no deal was agreed on.
Drewry’s potential sale comes as smaller, often family-held station groups consider offers from growth-minded major broadcasters. The group features strong stations, including Amarillo leader KFDA, minimal debt, a range of affiliations, and market sizes from No. 87 to 146.