KSPR management switch set for Oct. 1

The two Springfield companies have signed a definitive agreement that allows Perkin Media to acquire the FCC assets of KSPR and KY3 to acquire all non-FCC assets.

The transaction is pending regulatory approval but is expected to be complete in first-quarter 2007. Meanwhile, changes already are happening, as the new management officially takes over Oct. 1, said Bill Perkin, CEO of Perkin Media.

Perkin said an announcement will be made Friday about staff cuts at the ABC affiliate station, though the majority of the roughly 60 employees will be asked to stay. KY3 has about 125 employees, and Perkin said the two stations have a number of duplicate positions.

Under the agreement, KY3 will control all news and sales aspects of KSPR, and Perkin will sign off on programming and lead administrative operations.

KY3’s access to resources such as state-of-the-art equipment and outside news consultants will be a benefit to KSPR, Perkin said.

“It’s an exciting opportunity for both,” he said. “(Viewers) will see improvement in the news.”

Perkin’s company stepped into the purchase agreement because KY3 was prohibited from owning two FCC licenses in the same market. Talks of the sale had been ongoing for a couple of years, he said.

Perkin would not disclose KSPR’s sale price.

KY3 Inc. is a subsidiary of South Bend, Ind.-based Schurz Communications.