BUSINESS MEMO: ACQUISITION AGREEMENT

Raycom Media Inc., which owns KFVS-TV in Cape Girardeau, has entered into an agreement to acquire Malrite Communications Group Inc. of Cleveland.

Malrite broadcasting operations include television stations in Cleveland, Cincinnati, West Palm Beach, Toledo and San Juan, Puerto Rico.

Raycom Media, headquartered in Montgomery, Ala., owns 25 television stations, two radio stations and Raycom Sports.