Bayou City Broadcasting Evansville Inc, announced today that it has entered into an agreement to buy the CBS affiliate WEVV in Evansville, Indiana from Nexstar Broadcasting Group, Inc. for $18.6 million.
Bayou City Broadcasting Evansville will be managed by Bayou City Broadcasting, LLC, a Houston-based company owned and operated by DuJuan McCoy, President and CEO.
Mr. McCoy entered the ownership ranks in 2008 when he purchased seven TV stations including two Fox affiliates in Abilene and San Angelo, Texas from Sage Broadcasting. In December 2012, BCB divested those stations to London Broadcasting with intentions of parlaying his efforts into larger markets.
Mr. McCoy said, “I am very excited to be back in the ownership ranks and operating TV stations again, particularly in my home state of Indiana. WEVV is a great opportunity for me and will serve as a platform acquisition for additional BCB properties in the very near future. Also, my sincere gratitude goes out to Mr. Perry Sook for making a concerted effort to promote diversity in media ownership by agreeing to sell WEVV to Bayou City Broadcasting Evansville. His efforts should be commended.”
Mr. McCoy has been a television broadcaster for 25 years, is a member of the National Association of Broadcasters Television Board of Directors and was a 2007-08 participant in the National Association of Broadcasters-Broadcast Leadership Program (BLT), a 10 month Executive style MBA program for aspiring broadcast owners. He also serves on several NAB committees and is an Associate Dean of the National Association of Broadcasters-Broadcast Leadership Training Program based in Washington, DC. Nexstar Broadcasting Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 78 television stations and 19 related digital multicast signals reaching 46 markets or approximately 13.1% of all U.S. television households.
Nexstar’s portfolio includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV, The CW, Telemundo, Bounce TV, Me-TV, Live Well and independent stations. Nexstar’s 47 community portal websites offer additional hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content while creating new revenue opportunities. The transaction is subject to FCC and DOJ approval and is expected to close prior to the end of the year. KALIL & CO., INC. is the exclusive broker for this transaction.