Quincy to acquire stations from Granite and Malara
Ralph Oakley, President and CEO, Quincy Newspapers, Inc.
Quincy Newspapers, Inc., (“Quincy”) a private family owned fifth and sixth generation media company headquartered in Quincy, IL, will be adding nine stations in four markets to its broadcasting portfolio. Quincy has entered into a definitive agreement to acquire the broadcast assets of three television stations from Granite Broadcasting Corporation and one station owned by Malara Broadcasting. Additionally, Quincy will provide operating services to four other stations. The transaction is subject to federal regulatory approval. The closing is expected later this year.
The acquired stations include WEEK-TV (NBC) in the Peoria/Bloomington, IL market; WPTA (ABC/CW) in the Ft. Wayne, IN market; KBJR (NBC/MyTV) and its satellite, KRII, in the Duluth, MN/Superior, WI market; and WBNG (CBS/CW) in Binghamton, NY.
In addition to owning and operating the newly acquired stations, Quincy will provide operating services to several stations. Those stations include WHOI (ABC/CW) and WAOE (MyTV/ATV) in Peoria/Bloomington, IL, as well as stations to be acquired by SagamoreHill Broadcasting, WISE (NBC/MyTV) in Ft. Wayne, IN and KDLH (CBS/CW) in Duluth, MN/Superior, WI.
“We are thrilled to acquire these stations as well as the operating agreements for the others,” said Ralph M. Oakley, President and Chief Executive Officer of Quincy and a fifth generation family member in the company. “Our company is committed to the communities and regions it serves by providing the best in local news, community affairs and entertainment. We also are strong supporters of social service and non-profit organizations in our markets.”
In addition to the primary business of over the air television, Quincy operates an interactive division that works with its stations to provide community leading websites, social sites, mobile sites and market leading top of the line interactive marketing solutions.
As a result of the acquisition Quincy will now own and/or operate 23 stations in 14 television markets. Its existing stations include NBC affiliates in Quincy and Rockford, IL; Sioux City and Waterloo, IA; Rochester, MN and Bluefield, WV. It has ABC affiliates in Madison, La Crosse/Eau Claire and Wausau, WI and FOX affiliates in Quincy and South Bend, IN. It also operates a FOX affiliate in Rochester, MN under a shared services agreement. Several Quincy stations also have affiliations with the CW, MeTV, ThisTV and Live Well.
In addition, QNI owns and operates two radio stations and a newspaper in Quincy along with a newspaper in Newton, NJ.
SagamoreHill Broadcasting, a privately held company is led by President and CEO Louis Wall. Operating stations either through direct supervision or shared agreements, SagamoreHill broadcasts through WLTZ (NBC/CW) Columbus, GA; KZTV (CBS/Telemundo) Corpus Christi, TX; WNCF (ABC) Montgomery, AL and KXLT (FOX/MeTV) Rochester, MN. Louis Wall commented, “We believe the communities of Duluth and Fort Wayne are just terrific and will provide great opportunities for SagamoreHill Broadcasting to extend our presence in the Midwest.”
Wells Fargo Securities, LLC acted as exclusive financial advisor to Quincy on the transaction.