On August 5, RBR+TVBR first shared the news that NewsNet, the ambitious 24/7 all-News offering in the process of shifting from digital multicast distribution to an owned-and-operated LPTV-based operation, had abruptly shut down.
Yet, the CEO of parent company Bridge News LLC commented, “You can expect a significant increase in our over-the-air acquisition activity in the coming days and weeks.”
A freshly signed agreement that sees Greg Guy of Tideline Partners serve as the seller’s broker shows that Vince Bodiford is true to his word.
Bridge News LLC has agreed to purchase KLHP-LD 26 in Dallas and WBFT-36, a digital Class A facility in Sanford, N.C., a city to the southwest of Raleigh.
The seller is Radiant Life Ministries, led by CEO Bunker Sessions.
A $1.85 million purchase price was agreed to by the parties; a 10% escrow deposit has been made.
An asset purchase agreement dated August 21 was filed late yesterday with the FCC for its regulatory approval.
Serving as the seller’s legal counsel is Joe Chautin III of Hardy, Carey, Chautin & Balkin. The buyer’s legal counsel is The Law Office of Dan J. Alpert.
