Deal Closes on Two Texas TV stations
Two CBS stations have been sold to London Broadcasting for $25 million. KYTX-TV and MYTX-TV, both based in the Tyler, Texas market, were purchased from a subsidiary of Max Media of Montana.
London Broadcasting, based in Dallas, was formed last October to start buying media properties in small and mid-sized markets, according to theNews-Journal. The two Tyler stations represent the company’s first get.
Several key personnel announcements accompanied news of the sale, including the promotion of Phil Hurley, who was president and general manger of the two stations, and who owns a piece of London Broadcasting. Hurley said the group was looking at five other stations in the Southwest, and hoping to have 10 stations within the next two years.