Argyle Television closes on acquisition of television stations KHBS and KHOG.SAN ANTONIO, Texas--(BUSINESS WIRE)--June 11, 1996--Argyle Television (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ARGL) Tuesday closed its previously announced acquisition of ABC-affiliated television stations KHBS, Fort Smith, Ark., and its satellite KHOG, Fayetteville, Ark., from Sigma Broadcasting. KHBS and KHOG generated $7.9 million of net revenues in 1995. Argyle has been supplying substantially all of the programming and selling the commercial air time on the stations since April under a Time Brokerage Agreement with Sigma. Through May, advertising revenues for the first five months of 1996 are running 12% above the first five months of 1995. With this acquisition, Argyle now owns and operates stations in six television markets. Bob Marbut, Argyle's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said: "We are pleased to welcome KHBS and KHOG to the Argyle family. These are strong stations in a very attractive market, one that will add to Argyle's geographic diversity." Argyle President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Blake Byrne, announced the appointment of Jeff Rosser as president of KHBS and KHOG. Rosser, 48, was most recently president and general manager of WNAC WNAC Women Nationally Active for Christ (Antioch, TN) , Argyle's Fox-affiliated station in Providence, R.I. Prior to that, he was president and general manager of KDFW KDFW Dallas/Ft. Worth International Airport , the CBS (Cell Broadcast Service) See cell broadcast. affiliate in Dallas that was owned by the Argyle predecessor company, Argyle Television Holding Inc. Before becoming part of the Argyle organization in 1993, Rosser held general management jobs in Dallas and Birmingham and had news management assignments in Boston, New York Boston is a town in Erie County, New York, United States. The population was 7,897 at the 2000 census. The town is named after Boston, Massachusetts. The Town of Boston is an interior town of the county and one of the county's "Southtowns. and Tulsa. Byrne said: "Jeff has been with Argyle Television since its creation and is a founding shareholder as well. He brings a wealth of television station operating experience to his new assignment." Rosser replaces Darrel Cunningham, who had been general manager under the previous ownership. Byrne added, "We want to thank Darrel for his management of the stations and wish him the very best." Today, Argyle Television Inc. owns and operates network-affiliated television stations WZZM-TV, the ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. affiliate in Grand Rapids, Mich.; WGRZ-TV, the NBC affiliate in Buffalo, N.Y.; WNAC-TV, the Fox affiliate in Providence; KITV-TV, the ABC affiliate in Honolulu; WAPT-TV, the ABC affiliate in Jackson, Miss.; and KHBS, the ABC affiliate in Fort Smith, and its satellite KHOG, the ABC affiliate in Fayetteville. Argyle's Series A Common Stock trades on the Nasdaq National Market System under the symbol "ARGL." CONTACT: Bob Marbut, 210/828-1700 |
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