LocusPoint again demonstrates it’s a Class A Act
There’s a new kid on the television group ownership block, and it’s going around the country snapping up Class A television stations. It just filed to acquire #5, Towson University’s Channel 16 WMJF-LP just outside of Baltimore.
LocusPoint is headed by William DeKay and Ravi Potharlanka.
It will pay $1.8M cash for the station, which is licensed to Towson MD. The contract stipulates that the deal can be unwound should the station lose its Class A status for any reason.
Before this deal was filed, LocusPoint had filed to acquire stations in San Francisco, Philadelphia, Tampa and Orlando, for a total of $17.35M.
The WMJF deal will bring its total investment to $19.15M.
The San Francisco deal is for Channel 28 KFTL-CD. The price: $6.65M. The seller is Family Stations.
In Philadelphia, Locuspoint is picking up Channel 38 WPHA-CD for $6.4M. The seller is a company headed by Randolph M. Weigner.
In Tampa-St. Petersburg, it’s getting Channel 20 WARP-CD for $3.05M. The seller is another company headed by Randolph M. Weigner.
In Orlando, it’s buying WRCF-LP for $1.25M from Specialty Broadcasting Corporation.