As RBR+TVBR first reported on Monday, Sinclair Inc. has agreed to acquire a LMA partner that serves as the ATSC 3.0 lighthouse for the Omaha-Council Bluffs market outright, creating a duopoly in the market touching the western portion of Iowa.
To the east, Sinclair has engineered a similar LMA-to-purchase deal, creating a duopoly in a second Hawkeye State DMA.
This deal sees Sinclair signing an agreement to acquire KFXA-28, presently a “Dabl” affiliate serving the Cedar Rapids-Iowa City market, from Second Generation of Iowa Ltd.
This would position Sinclair Inc. to bring “FOX 28” back to life, as KFXA would become the sibling, in full, of KGAN-2. At present, CBS programming appears on the DT1 signal, while FOX appears on the DT2 signal as of January 2021.
Second Generation has owned KFXA for three decades, under the leadership of Thomas J. Embrescia. Now, he’s agreeing to allow Sinclair to own the station in a deal valued at $19 million.
However, that is variable based on the proration of revenues and expenses.
And, the agreement clearly states that of the total paid, just $1.9 million is allocable to the license assets.
There is no broker or finder associated with this agreement, given the relationship between Embrescia’s organization and Sinclair.
