Gannett Plans to Purchase Six Texas Television Stations, Includi - KiiiTV.com South Texas, Corpus Christi, Coastal Bend

Gannett Plans to Purchase Six Texas Television Stations, Including Kiii-TV

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CORPUS CHRISTI (Kiii News) - London Broadcasting Company announced Wednesday that it has entered into an agreement for the sale of six of its Texas-based television stations to Gannett Co. Inc., an international media and marketing solutions company, for a total of $215 million in cash.

The transaction is expected to close this summer. Phil Hurley, London Broadcasting's current executive vice president and chief operating officer, will be joining Gannett to lead the six newly-acquired stations, which include Kiii-TV.

In a press release Wednesday, Terry E. London, president of London Broadcasting, said, "We are pleased that several of our television stations will become part of Gannett and benefit from that organization's global strength and breadth. Likewise, we wish Phil Hurley all the best as he leads the acquired stations under the Gannett banner.  Phil is an outstanding leader and he has been a great partner."