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Local broadcast firm to buy 12 TV stations; Barrington acquiring properties for $262 mil.(Barrington Broadcasting Corp)
Crain's Chicago Business, April, 2006
Byline: H. LEE MURPHY Barrington Broadcasting Corp. in Hoffman Estates is moving up the television food chain with a deal to acquire a dozen stations in small and mid-sized markets. Barrington is paying $262 million to buy stations being divested by Raycom Media Inc. of Alabama in the wake of Raycom's move to buy assets from South Carolina-based Liberty Corp.
It's been a busy period for mergers and acquisitions in the broadcast industry, which had been quiet between 2001 and 2004 while the Federal Communications Commission wrestled over new station-ownership rules. While those rules still haven't been settled, companies have started buying again anyway. Family-owned Quincy Newspapers Inc. in Downstate Quincy struck a deal March 30 to buy NBC affiliate...
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