The Retirement Systems of Alabama, a group that lists Raycom Media as one of its biggest investments, told members in its latest newsletter the station group is ready to close on the purchase of New Orleans FOX affiliate WVUE for $55.6 million.
The good news for RSA members is spelled out in the newsletter, “Pending year-end approval by the FCC, the station would immediately increase in value by more than $12 million due to the re-transmission fees paid to Raycom compared to a single station owner.”
The news was first reported on the website of rival NBC affiliate WDSU.
According to WDSU, the company that currently owns WVUE, Louisiana Media Co., bought the station in 2008 for $41 million.
New Orleans CBS affiliate WWL is also on the block as part of Gannett’s purchase of Belo Corp.
TVSpy asked Raycom Media for comment. We will update when we hear back.