Gannett Co. loves Texas.
The company struck a deal to acquire six television stations in the Lone Star State from London Broadcasting Co. for $215 million. The stations are in mostly small markets including Waco, Beaumont and Corpus Christi.
The acquistion comes in the wake of Gannett’s purchase of Belo Corp., which owned stations in Dallas, Houston and San Antonio, in a deal valued at $2.2 billion. Gannett said it expects the London deal to clear regulators by the end of the summer.
“The addition of these stations will expand Gannett’s reach into some of the fastest growing markets in the nation,” said Gracia Martore, president and chief executive officer of the TV and newspaper owner.
There has been a tremendous amount of consolidation in the local television industry led by Gannett, Sinclair Broadcast Group and Los Angeles Times parent Tribune Co.
Media watchdogs have expressed concern about consolidation, arguing that it limits diversity in programming and news. TV station owners argue that size allows them to better compete against cable and other competitors.