The FCC has approved Raycom’s purchase of Drewry Communications Group’s stations in a deal valued at $160 million.
“We’re very excited about Raycom,” KXXV vp and gm Mike Lee told the Waco Tribune. “I’ve known folks in Raycom many years . . . and I can’t think of a better choice of someone to acquire our group.”
KXXV is one of the stations involved in the deal. Lee said Raycom would give local managers to room to make their own decisions about their stations.
“My definition of journalism is to be fair, balanced and unbiased,” said Lee. “In all the discussions we’ve had with Raycom, I’ve not been told anything that would lead me to believe that will change.”