Barrington Announces Transaction for Myrtle Beach Television Station.HOFFMAN ESTATES, Ill. -- Barrington Broadcasting Corporation announced today that it has agreed to purchase all of the assets of WPDE-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 serving Myrtle Beach-Florence, South Carolina from Diversified Communications of Portland, Maine. The transaction is subject to FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. approval. David Lowell, President 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. of Diversified Communications, said: "WPDE is a terrific property with a deeply committed and hardworking staff. I'm particularly pleased that WPDE is being turned over to an experienced broadcasting company whose leadership has specific knowledge of the Myrtle Beach-Florence market and an ongoing commitment to the local community." In making the announcement, K. James Yager, Chief Executive Officer of Barrington, said "Myrtle Beach-Florence is a dynamic market with great potential. As part of Diversified, WPDE-TV has had a strong commitment to local news, weather and sports. Barrington intends to continue and enhance that tradition as the station completes its 25th year of service to the area." Yager, a former General Manager of WIS-TV in Columbia, South Carolina Columbia is the state capital and largest city of South Carolina. As of 2006, estimates for the population of the city proper is 122,819[1]. Columbia is the county seat of Richland County, but a small portion of the city extends into Lexington County. in the 1970's and former 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. of Spartan Communications which purchased WBTW-TV in Myrtle Beach-Florence, South Carolina in 1984, went on to say that "the ABC network has its most successful lineup in recent years and we believe that ABC's growth will translate to increased momentum for WPDE-TV. We look forward to building upon the great strides that WPDE-TV's General Manager, Billy Huggins, and his staff have made with the station." Barrington Broadcasting Corporation was formed in 2003 to acquire and operate television stations in mid-sized markets across the country. Since 2004, Barrington has announced the purchase of five other network-affiliated stations and one construction permit. The Barrington station portfolio includes WEYI-TV, an NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. affiliate in the Flint-Saginaw, Michigan market; WHOI-TV, an ABC affiliate in the Peoria-Bloomington, Illinois market; KRCG-TV, a CBS (Cell Broadcast Service) See cell broadcast. affiliate in the Columbia-Jefferson City, Missouri market; KVII-TV, an ABC affiliate serving the Amarillo, Texas market; and KHQA-TV, a CBS affiliate in the Quincy, Illinois and Hannibal, Missouri television market, in addition to WBSF-TV, a start-up WB affiliate in the Flint-Saginaw, Michigan market. Larry Wood of Cincinnati-based brokerage firm Wood & Company, Inc. represented the Seller in arranging the transaction. |
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