WICHITA FALLS, Texas—Mission Broadcasting has agreed to acquire WADL-TV in Detroit, Michigan from Adell Broadcasting Corporation.
Financial terms of the deal were not disclosed.
The MyNetworkTV affiliated station has been serving Detroit, the nation's 14th largest market, since its launch in May 1989, and currently reaches nearly two million television households.
The acquisition of WADL is Mission's second entry into the state of Michigan; the broadcast group also owns WLAJ-TV, the ABC affiliate serving Lansing, Michigan, the state's capital.
"The purchase of WADL represents a rare opportunity to acquire a full-power station in a top-15 market," said Dennis Thatcher, president of Mission Broadcasting, Inc. "We are very excited about playing a role in the continued renaissance of this great American city."
"I started this journey 34 years ago at my parents' kitchen table, where I mortgaged their home in order to build what would later become WADL-TV,” said Kevin Adell, CEO of Adell Broadcasting. “I could not have selected a better successor of my legacy than Mission Broadcasting."
The transaction, subject to regulatory and other customary approvals, is expected to close in the third quarter of this year.
