The acquisition of the stations from Capitol Broadcasting will go into the books at $18M cash.
In the event that the deal is not closed by 6/1/13, a time brokerage agreement will go into effect, and Fox will pay $8.24M to Capitol for the stations’ non-license assets.
WJZY, the local CW affiliated is licensed to Belmont NC. It is widely believed that it will end up with the DMA’s Fox Television Network affiliate at the expense of Bahakel’s WCCB-TV.
WMYT, licensed to Rock Hill SC, is the local MyNetworkTV station. It’s a Fox-owned network and likely will remain on the station.
Other television operators in the market besides Bakahel include Cox (ABC WSOC and indy WAXN); Raycom (CBS WBTV) and Long Communications (indy WHKY). There are also four noncommercial stations operating in the DMA.