It has a history that includes an affiliation with the small Asia Vision television network. Now, this Philadelphia-area low-power TV station is being spun to the purveyor of Christian and family programming headquartered in Allentown, Pa.
Greg Guy of Patrick Communications served as the seller’s broker.
Spinning WQAV-CD 34, licensed to Glassboro, N.J., and using digital channel 26, is WMT LLC.
That’s a licensee led by Paul Koplin, the LPTV entrepreneur associated with Venture Technologies Group.
The buyer is Lighthouse Support, which operates the LighthouseTV regional religious broadcasting service. It presently can be seen on WLYH-49 in Red Lion, Pa. (digital Channel 10), in the York, Pa., area; and on WBPH-60 (digital Channel 9) in Philadelphia.
Gaining a UHF facility for the bigger Philadelphia DMA is likely an attraction point for LighthouseTV, and it is paying $3.5 million to gain it. A Charitable Donation Receipt will be given to Koplin for the difference in value between the cash purchase price and the asset value of WQAV as determined by the Internal Revenue Service.
A $175,000 escrow deposit is being held by Guy.
Lighthouse Support’s legal counsel in this transaction is Joe Chautin III of Hardy, Carey, Chautin & Balkin. Joan Stewart of Wiley LLC served as WMT LLC’s legal counsel.
