HOUSTON (June 13, 2019) – Bracewell LLP represented Sinclair Telecable in an agreement to acquire the interest in a partnership that owns and operates six Austin radio stations and two FM translators from its partner, Emmis Communications Corporation (Nasdaq: EMMS), for $39.3 million, subject to customary prorations and adjustments. Sinclair already owns the remaining interest in the partnership and has been partners in this venture with Emmis, since Emmis purchased its controlling interest in July 2003.
The Austin radio cluster includes eight station brands: KLBJ-AM, KLBJ-FM, Bob FM, La Zeta, Star 93.3, 101X, Austin City Limits Radio, and Latino 102.7. The Austin cluster will be rebranded as Waterloo Media.
The agreement was signed on June 10, 2019.
Bracewell lawyers involved in this transaction included:
Partner: Dan Witschey
Associate: Ben Martin