Posted January 8, 2007; 6:31 p.m. (CDT)
OKLAHOMA CITY--Family Broadcasting Group, Inc., owner of the Oklahoma City-based independent KSBI-TV/KSBI-DT television network, announced today the addition of Aubrey K. McClendon and Tom L. Ward as new investors and shareholders. McClendon is Chairman and CEO of Chesapeake Energy Corporation and Ward is Chairman and CEO of SandRidge Energy, Inc., both
based in Oklahoma City.
Brady Brus, President of the privately owned Family Broadcasting Group, Inc. said, “We are delighted to have Aubrey and Tom as investors and shareholders in our company. They are accomplished businessmen who are highly respected for their character and integrity as well as their abilities to build and operate successful companies. We’re also very excited with the opportunities their investments and involvement will mean to our company as it relates to upgrading our broadcast presentation and adding new technologies while continuing the focus of family friendly programming, which has given us a unique position in the Oklahoma marketplace.”
Brus further noted, “Tom and Aubrey share our values and vision when it comes to building a vibrant family focused independent television network in Oklahoma, north Texas and southern Kansas, and beyond. Since we purchased the KSBI-TV network from Locke Supply Company just over two and a half years ago, we have devoted considerable effort and energy to enhance the position of KSBI-TV as an influential broadcast property. As a result of our unique program focus and community involvement, we have become the fastest growing station in the state.” (Nielsen Media 2005 through 2007)
Both McClendon and Ward’s investments are being made privately and are not associated with their respective companies.
The investment amounts and terms were not disclosed. The funds will be used to retire current debt and provide capital to relocate and equip a new state-of-the-art broadcast facility as well as provide Family Broadcasting Group, Inc. with the basis for a period of scalable growth in broadcast and new media areas.
In a joint statement concerning their investments, McClendon and Ward commented, “The outlook for Family Broadcasting Group, Inc. is extremely positive as demonstrated by the growth the company has experienced the past two years in the midst of a challenging broadcast media marketplace in Oklahoma. We have been impressed with what Brady and his management team have accomplished in turning KSBI-TV into a statewide network with tremendous reach and opportunity. We have every reason to believe the additional capital and modern broadcast facilities will allow the company to pursue new broadcast and online initiatives to better serve the viewer preferences for wholesome exciting entertainment.”
With the addition of Mr. McClendon and Mr. Ward, Family Broadcasting Group’s ownership consist of Brady Brus, President and CEO; Angie Brus, CPA, Treasurer; and Seekfirst Media LLC (Joe Bowie-Managing Partner).
Family Broadcasting Group, Inc. owns KSBI-TV/DT, KXOC-LP, and twelve television translators across Oklahoma, north Texas, and southern Kansas.
Most recently, KSBI-TV acquired the exclusive rights to post-season high school sports in Oklahoma, and launched Oklahoma News Tonight, which airs at 5:30 pm to 6:30 pm Monday through Friday.
KSBI-TV is the only locally owned statewide independent television network of its kind in the country with a current potential reach of over 1.4 million households via cable, satellite, and public broadcast signals.
