Hoosier TV Stations to be Acquired
LOS ANGELES - Los Angeles-based Entertainment Studios Inc. has reached an agreement to acquire 11 television stations, including three in Indiana. The company's subsidiary, Allen Media Broadcasting, says the deal with USA Television Holdings LLC and USA Television MidAmerica Holdings LLC is valued at $290 million.
The Indiana stations involved in the sale include WFFT-TV in Fort Wayne, WTHI-TV in Terre Haute, and WLFI-TV in Lafayette. In a news release, Entertainment Studios Chairman and Chief Executive Officer Byron Allen called the deal another milestone for the company.
"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," said USA Television CEO Robert S. Prather, Jr. "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."
Byron also acquired two Evansville stations, WEEV-TV and WEVV-TV, in August as part of a $165 million deal.