Press Releases
Barrington Announces Transaction for Myrtle Beach Television Station
July 27, 2005 — Hoffman Estates, Illinois
Barrington Broadcasting Corporation announced today that it has agreed to purchase all of the assets of WPDE-TV, the ABC affiliate serving Myrtle Beach-Florence, South Carolina from Diversified Communications of Portland, Maine. The transaction is subject to FCC approval.
David Lowell, President and CEO 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 in the 1970's and former Chief Operating Officer 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 affiliate in the Flint-Saginaw, Michigan market; WHOI-TV, an ABC affiliate in the Peoria- Bloomington, Illinois market; KRCG-TV, a CBS 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.
For more information, contact:
Mary L. Flodin
Barrington Broadcasting
Senior Vice President, Administration and Finance
847-884-1877