Backchannelmedia

Business Wire

Barrington Broadcasting Group announced today that they have agreed to a transaction with New Vision Group, Atlanta, Georgia, involving the purchase of all of the assets of KVII-TV and KVIH-TV, the ABC affiliates serving the Amarillo, Texas television market. The purchase price is $22.5 million and the transaction is subject to FCC approval.

K. James Yager, Chief Executive Officer of Barrington, commenting on the acquisition, "We couldn't be more excited to be purchasing this station. KVII has a strong commitment to local news, and Barrington intends to continue and enhance that tradition. The ABC Network has the most successful lineup in recent memory, and we believe that the Network growth will translate down to increased momentum for what is currently a solid local station. We look forward to building upon the great strides that New Vision has made with this station."

Barrington Broadcasting was formed in 2003 to acquire and operate network affiliated television stations in mid-sized markets across the country. Since 2004, Barrington has announced the purchase of four other network-affiliated stations and one construction permit. The Barrington station portfolio includes an NBC in the Flint-Saginaw, Michigan market, an ABC in the Peoria-Bloomington, Illinois market, a CBS in the Quincy, Illinois and Hannibal, Missouri market and a CBS in the Columbia-Jefferson City, Missouri television market, in addition to a start-up WB in the Flint-Saginaw, Michigan market.

Kalil & Co., Inc. is the exclusive broker for this transaction.