Market Overview

General Communication Subsidiary Purchases Anchorage CBS Affiliate and Southeast Alaska NBC Affiliates

Denali Media Holdings, a subsidiary of General Communication, Inc. (NASDAQ: GNCMA) announced today that it has agreed to the purchase of three Alaska broadcast stations: CBS affiliate KTVA-TV of Anchorage and NBC affiliates KATH-TV in Juneau and KSCT-TV of Sitka.

Denali Media Holdings will purchase KTVA-TV from Alaska Broadcasting Company, Inc./Media News Group (Affiliated Media Inc. FCC Trust) of Denver, Colorado. Affiliates KATH-TV and KSCT-TV will be purchased from North Star Broadcasting based in Juneau. 

GCI President Ron Duncan says that Denali Media Holdings and the station purchases are part of GCI's strategy to add value to its media enterprise. "Our intention is to invest our resources and transform KTVA, KATH and KSCT into a news and entertainment leader unparalleled in Alaska," said Duncan. "We look at these purchases as the first step toward providing a new statewide platform for news and information, as well as providing unique content and value for GCI's video subscribers," Duncan added.

Denali Media Holdings also announced that former KTUU News Director, John Tracy will be the lead consultant in the rebuilding and rebranding of the news departments. Tracy served as news director at KTUU-TV from 1989 to 2008, when

See full press release

Posted-In: News Guidance Management M&A

 

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