MegaTV owner Spanish Broadcasting System has closed on its acquisition of full power KTBU Houston from U.S. Farm and Ranch Supply Company for $16 million.
KTBU becomes the third owned and/or operated MegaTV affiliate in the greater U.S., joining WSBS Miami and WMEI Puerto Rico. The two parties agreed to a deal in May.
KTBU reaches approximately 1.8 million households in the Houston DMA through its over-the-air, cable and satellite distribution platforms, according to Spanish Broadcasting System. BIA/Kelsey says KTBU booked $4.6 million in revenue last year.
U.S. Farm and Ranch/USFR Media Group had bought KTBU for $30 million in 2006.
"This acquisition marks another important watershed for MegaTV as we increase viewership in the western region of the country, reflecting our desire to replicate an augment our radio footprint with TV penetration in the largest U.S. Hispanic markets," said SBS CEO Raúl Alarcón. "Our strategic vision of integrating our radio, TV, entertainment and online properties is in full swing as we continue to seek out unique growth opportunities with a clear eye on capturing the U.S. Hispanic consumer."