McClendon & Ward invest in KSBI TV

[metro]

Anyone catch the JR article from Jan. 9th that Aubrey McClendon and co-founder of Chesapeake Energy Tom Ward (now of SandRidge Energy) are investing in the local KSBI TV station and their statwide affiliates. If someone has the article please post it. Should be interesting to see how this station does. The donation will cover a new studio and other upgrades.

[SpectralMourning]

It's fantastic to see locally owned and operated networks are getting great boosts. It may not be up to par with something like WGN in Chicago, but it's still ours.

Now on to OK43... ...again.

[streuli]

McClendon, Ward invest in KSBI-TV
by Jerry Shottenkirk
The Journal Record
1/9/2007

OKLAHOMA CITY – Aubrey McClendon and Tom Ward are entering the TV business.
Officials of Family Broadcasting Group Inc. said on Monday the energy executives are new investors and shareholders in the company. McClendon is chairman and chief executive officer of Chesapeake Energy and Ward, who co-founded Chesapeake with McClendon, is chairman and CEO of SandRidge Energy.

Family Broadcasting Group Inc. owns KSBI-TV/KSBI-DT of Oklahoma City.

The amount of the investment was not disclosed. Family Broadcasting Group President and Chief Executive Officer Brady Brus said the additional funds will help the privately owned station with debt and updates, including a new broadcast facility and growth in new media.

“We are delighted to have Aubrey and Tom as investors and shareholders in our company,” Brus said. “They are accomplished businessmen who are highly respected for their character and integrity as well as their abilities to build and operate successful companies.”

Family Broadcasting Group consists of Brus, Angie Brus, a certified public accountant and treasurer; and Seekfirst Media LLC (Jon Bowie, managing partner).

In addition to KSBI, Family Broadcasting Group owns KXOC-LP and 12 television translators across Oklahoma, north Texas and southern Kansas.

In a joint statement issued Monday, McClendon and Ward said, “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.”