Imagicomm Communications has reached a deal with Rincon Broadcasting to sell seven stations as part of a broader move to exit the local TV market.
The acquisition marks the second time that Rincon Broadcasting and its lead executive Todd Parkin have agreed to purchase TV stations over the past few weeks.
The stations being sold to Rincon include:
- KAYU (Channel 28, Fox) in Spokane, Washington
- KCYU-LD (Channel 41, Fox) in Yakima, Washington
- KFFX (Channel 11, Fox) in Kennewick, Washington
- KMYT (Channel 41) in Tulsa, Oklahoma
- KOKI (Channel 23, Fox) in Tulsa, Oklahoma
- KYMA (Channel 11, CBS) in Yuma, Arizona
- WHBQ (Channel 13, Fox) in Memphis
All stations listed in the transaction were acquired by Imagicomm from Cox Media Group three years ago, according to public records and media reports reviewed by The Desk. Arizona-based media brokerage firm Kalil & Company (stylized as Kalil & Co.) effectuated the transaction between Imagicomm and Rincon.
Financial terms of the acquisition were not immediately known.
It is the second major transaction involving Imagicomm this year as the company exits the local TV market. In January, Imagicomm sold five TV stations along the Caliornia-Oregon border to Marquee Broadcasting.
It is also the second transaction involving Rincon in several weeks. In early March, Rincon agreed to buy five TV stations from Sinclair, including three in Illinois. Before leading Rincon, Parker worked as an executive for Diamond Sports Group, the former regional sports company that Sinclair jointly owned with other media stakeholders. Diamond Sports Group emerged from Chapter 11 bankruptcy last year and now operates as Main Street Sports; Sinclair no longer has an ownership stake in the company.
Both purchases involving Rincon must be approved by the Federal Communications Commission (FCC) before the deals close.
