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NABOB issues statement supporting announced purchase of WEVV by black owner
(August 6, 2014) The Washington-based National Association of Black Owned Broadcasters offered a favorable reaction to the announced acquisition by Bayou City Broadcasting of TV station WEVV in Evansville, Indiana. In a statement, NABOB called the transaction "significant" for a number of reasons.
"It is the first independent purchase of a television station by an African American owned company in several years," said Jim Winston (pictured), NABOB's Executive Director. "Unlike several recent transactions in which African American owners have purchased stations connected with larger media companies through joint sales agreements (JSAs) and/or shared services agreements (SSAs), the Bayou transaction is a completely independent transaction. Bayou will have no JSA or SSA agreements, and it has obtained its financing independently with no loan guarantees from a major broadcaster."
NABOB said it is also pleased because the transaction brings DuJuan McCoy, the owner and operator of Bayou, back into television station ownership. McCoy worked in television for many years before forming Bayou and buying seven television stations in 2008. He sold those stations in 2012 with the personal commitment to use the proceeds to return to television station ownership.
"I am excited to be back in the ownership ranks and operating TV stations again, particularly in my home state of Indiana" said McCoy in a statement. "WEVV is a great opportunity for me and will serve as a platform for acquisition of additional properties in the very near future. 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."
"NABOB is very excited to see this transaction," said Winston, "to see DuJuan McCoy back in the ranks of ownership, and to see Perry Sook and Nexstar in the midst of another positive development for African American television station ownership."
Winston added, "Previously, we were pleased to see Perry Sook and Nexstar facilitate a JSA transaction with Marshall Broadcasting Group, and we continue to support grant of a JSA waiver for that transaction." (Click here to read related story)
Winston concluded, "The Bayou transaction is pure standalone ownership which is NABOB's long term goal for all transactions. We are delighted to see Bayou reignite standalone African American television station ownership."
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