PITTSBURG — Ownership of KOAM-TV is changing hands to Morgan Murphy Media though an agreement to acquire leading TV stations in two markets.
MMM will acquire KOAM, as well as television stations in Victoria, Texas, from Saga Communications Inc. According to a release from MMM, the acquisition fits the company’s growth strategy of expanding into markets where it can “hold and grow a leadership position across a multitude of platforms.”
“We are thrilled to grow our family of stations in these two markets,” President and CEO of MMM Elizabeth Murphy Burns said. “These stations are the perfect fit with our company because of their strong foundation of market leadership and community service.”
KOAM has been owned by Saga Communications since fall 1994. However, KOAM President and General Manager Danny Thomas said he does not anticipate any major changes with the ownership switch.
“We will be the same KOAM,” Thomas said. “There will just be a different name on the owner label.”
The local FOX affiliate, KFJX-TV — which shares a building with KOAM — will will be acquired by subsidiaries of SagamoreHill Broadcasting LLC, which will enter into operating agreements with subsidiaries of Morgan Murphy.
“We hope to maintain a close working relationship,” Thomas said of KOAM’s relationship with KFJX.
MMM operates TV stations in Wisconsin and Washington, as well as radio stations in those states and northern Iowa and northern Idaho.
Pending regulatory approval, the deal is expected to close in the third quarter of this year.
— Chance Hoener is a staff writer for the Morning Sun. He can be emailed at email@example.com or follow him on Twitter @ReporterChance.