Azteca America, Pappas Sign LMA for Flagship L.A. Station
Laura Martínez -- Multichannel News, 1/15/2008 6:19:00 AM
Pappas Telecasting and Azteca America have signed a five-year Local Marketing Agreement for KAZA-Channel 54 in Los Angeles, the network’s flagship station, an Azteca America spokesperson confirmed this week.
The deal, which has not been officially announced, puts an end to a sour relationship that began early last year when Pappas decided to terminate its Azteca America affiliation agreements in several markets, including Houston, Sacramento and San Francisco. Back then, though, the decision did not include KAZA, which was operating under a LMA until June 2008.
The new deal will keep Azteca America’s programming on KAZA through 2013, and is partly a result of Pappas recent decision to shed a portion of its television assets. Late last year, chairman and CEO Harry J. Pappas sent out a prepared statement announcing the company had retained a firm to explore “strategic opportunities” for its TV assets, as well as his personal need to spend more time with his family.
“Due to favorable results from our first round of strategic review activities in the spring involving our Spanish-language television assets, the company has retained Moelis & Company to assist with a strategic review of all of the company’s TV assets,” said Pappas in a statement. He added: “After more than 40 years in the broadcast industry, the time has come to simplify my life and spend more time with my family.”
A Pappas spokesperson was not available for comment at press time.
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