A yet-to-be-built low-power TV station in Louisiana has been sold in a transaction that gives the broadcast property to a locally based entity.
Meanwhile, a station sale in Minnesota that saw Kalil & Co. act as the exclusive broker in the transaction has closed. There’s also a closing in Maryland in which Michael J. Bergner of Bergner & Co. represented the buyer in the transaction and Larry Patrick of Patrick Communications represented the seller.
These are the deals highlighted in RBR + TVBR’s TRANSACTIONS TODAY for Tuesday, Jan. 3.
For $90,000, EICB-TV East LLC is selling K17KH-D, a 15kw facility at Channel 17 in Lake Charles, La.
The buyer is Lake Charles Television LLC.
Per the terms of the agreement, EICB-TV will provide a digital multicast channel tied to K17KH-D to the seller for 20 years, so it may use it to rebroadcast KHFD-LD Channel 51 in Dallas.
This ensures that EICB will continue to have a presence in the market, even after it divests the property.
KHFD is an affiliate of EICB-TV’s “Excellence in Christian Broadcasting” noncommercial religious network. EICB-TV is headed by Randall and Adrienne Weiss.
The main figure behind Lake Charles Television is Mike Reed. Reed is the President/CEO of Waypoint Media, the Meridian, Miss.-based management company that oversees broadcast operations and does outside consulting work in the broadcast industry.
Among Waypoint’s stations is WPBI-LD, at Channel 16 in Lafayette, Ind.. It is set to become the market’s first local Fox station, and Reed says he is also actively readying the launch of the first local NBC affiliate for the Indiana market.
Reed is also involved in radio ownership, as he co-leads Lafayette TV LLC, which in October 2016 agreed to purchase four stations in the Hoosier State from Arthur A. Angotti.
In other TRANSACTIONS TODAY:
- Midwest Communications has closed on its sale of Class C3 KMFG-FM 102.9 in Nashwauk, Minn., to Refuge Media Group for $96,000. Midwest agreed to sell KMFG in order to purchase five full-power radio stations and three translators in northern Minnesota from Red Rock Radio Corp. Kalil & Co. was the exclusive broker for this transaction.
- Forever Media, led by Donald Alt and Kirby Confer, has closed on its purchase of WCEI-FM & WINX-FM, serving Easton, Md., for $6.5 million. The seller is First Media. Michael J. Bergner of Bergner & Co. represented Forever in the transaction. Larry Patrick of Patrick Communications served as exclusive broker for First Media.