DTV America Corp. is the licensee of a long list of low-power TV stations located in markets across the U.S.
As of June 2017, HC2 Holdings — overseen by COO Les Levi on a day-to-day basis and led by Philip Falcone — has held a majority interest in DTV America.
With rumors still swirling in LPFM circles about HC2’s finances, DTV is agreeing to part ways with a low-power TV station on the Alabama/Georgia line, and a LPTV serving Myrtle Beach.
DTV is earning $2 from the transfer of these properties to a new owner.
In a deal finalized Sept. 6 and filed Friday with the FCC, DTV is selling low power television stations WCGZ-LD 21 in La Grange, Ga., and W26DT-D in Myrtle Beach, S.C.
The buyer is Lowcountry 34 Media.
And, it is paying exactly two dollars for the media properties.
For Jeff Winemiller‘s Lowcountry 34, the LPTV properties will join a stable comprised of WSCG-DT in Savannah, Ga.; an LPTV in Hinesville, Ga.; and LPTVs licensed to Beaufort and Charleston, S.C., respectively.
HC2 was one of the most prolific buyers in 2018. However, 2019 has brought questions from some industry observers about its ability to complete some of those announced deals. Chatter surfaced in August, after Louis Libin abruptly exited his role as Managing Director of HC2 Broadcasting and HC2 Holdings.
Libin’s exit from HC2 — rumored to be his response to a lack of funding — came as RBR+TVBR learned from a source close to the matter that the company reportedly failed to close on five deals involving 12 stations, valued at more than $17 million.
The low-power TV industry source added that escrows have been taken by the sellers, and HC2 has paid extension penalties. New debt financing was reportedly in the works. However, the source said, HC2 missed a deadline on June 30 for such a move.
HC2 has not commented on the talk.
