Growing with Acme. (Acme Television purchase of KLPR-TV, St. Louis, MO)(Brief Article)

Broadcasting & Cable, October, 1997

Acme Television's FCC application to purchase KPLR-TV St.

Louis for $146 million shows all the voting stock of the company held by chairman Jamie Kellner (40%), president Doug Gealy and CFO Tom Allen (30% each). But the three executives together own just 10% of the equity in the group, with the opportunity to boost their holdings to 50% when the company's investors make back about five times their initial investment, sources say. At that point, management's stake in the five-station group will be worth about $60 million. But the value of the group could grow exponentially if it grows and goes public as planned. The KPLR-TV filing culminates two years of work by CEA to help Kellner form Acme. CEA brokered all five station deals, advised Acme on its bond...

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