RBR+TVBR on Monday reported on the acquisition of an affiliate of The CW that carries MeTV and MyNetworkTV programming on its digital subchannels by a company with a formidable presence in New England.
This deal would, if approved by the FCC, create a duopoly in Maine’s biggest market. Terms including the price and escrow payment have now been disclosed.
Ironwood Communications has agreed to sell WPXT-51, serving the Auburn-Portland, Maine DMA, to Hearst Television.
This would make WPXT-51 a sister station of ABC affiliate WMTW-8 in Portland, Me.
According to the Asset Purchase Agreement filed July 31 with the Commission, Hearst is paying Ironwood $3,350,000 for WPXT.
A $200,000 deposit has been placed in escrow. Additionally, at closing Hearst is to wire an additional $135,000 to Ironwood.
While the agreed-to purchase price is $3.35 million, it’s not set in stone: The APA indicates that the final purchase price may be increased or decreased based on several liabilities set forth in the agreement.
The broker involved in this transaction was also revealed. Representing Ironwood in this deal is Daniel B. Graves.
