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GREAT AMERICAN AGREES TO ACQUIRE WGHP-TV, GREENSBORO-HIGH POINT, N.C.

GREAT AMERICAN AGREES TO ACQUIRE WGHP-TV, GREENSBORO-HIGH POINT, N.C.
    CINCINNATI, Nov. 4 /PRNewswire/ -- Great American Communications Company (NASDAQ: GACC) announced today that its subsidiary, Great American Television and Radio Company, Inc. has signed a definitive agreement with Taft Broadcasting Partners L.P. to acquire WGHP-TV, in High Point, N.C. for a net purchase price of $26.4 million.  The transaction is subject to approval by the Federal Communications Commission.
    An ABC affiliate, WGHP-TV, Channel 8, serves more than 515,000 households in Greensboro, Winston Salem, and High Point, N.C. the nation's 48th market.  The station is also carried on 65 cable television systems.
    John P. Zanotti, president of the Television Group of Great American Broadcasting Company, said, "This acquisition is part of our overall program to develop the broadcasting core of our company.  We are pleased that WGHP will become our fourth ABC affiliate and broaden the geographical reach of our television group."
    GACC and it subsidiaries own and operate ABC affiliates in Tampa, Fla., Cincinnati and Birmingham, Ala. a CBS affiliate in Phoenix, Ariz. and an NBC affiliate in Kansas City, Mo.  GACC also owns 12 FM and six AM radio stations in the top 50 markets.  GACC's common stock trades in the over the counter market under the symbol GACC.
    -0-                   11/4/91
    /CONTACT: Sandra A. Heimann of Great American Communications, 513-579-2177/
    (GACC) CO:  Great American Broadcasting Co. ST:  Ohio IN:  ENT SU:  TNM LC -- CL019 -- 0891 11/04/91 16:25 EST
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Publication:PR Newswire
Date:Nov 4, 1991
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