WFFT-TV and two other Indiana television stations are among 11 that Los Angeles-based Entertainment Studios is buying from USA Television Holdings and USA Television MidAmerica Holdings for $290 million.
The Indiana stations Entertainment Studios is acquiring through its Allen Media Broadcasting division, in addition to the local Fox affiliate, are WTHI-TV in Terre Haute and WLFI-TV in Lafayette. Both CBS affiliates.
WFFT and the rest of the stations in the acquisition are managed by Atlanta-based Heartland Media, according to the Oct. 1 acquisition announcement. The companies selling them are portfolio companies of MSouth Equity Partners.
“This is another milestone for our company, as we have now agreed to purchase our second broadcast network affiliate station group within the past three months,” Byron Allen, founder, chairman and CEO of Entertainment Studios/Allen Media, said in a statement.
“I have known Byron Allen for decades and we are delighted that these stations will now be part of his dynamic company, and that Heartland management will continue to guide them,” USA Television CEO Robert S. Prather, Jr. said in the statement.
“These stations are dedicated to their local communities and this transaction will enable them to become even stronger on both their broadcast and digital platforms.”
After investing $455 million in TV station acquisitions during the third quarter, the statement said the USA TV portfolio will expand the Allen Media Broadcasting group to 15 stations in 11 U.S. markets.