As RBR + TVBR reported March 9, Three Angels Broadcasting in October 2016 agreed to sell a group of television stations to Edge Spectrum. But, Edge Spectrum — using the EICB-TV NET name in its Form 345 filing with the FCC — needed more time to secure its financing for the multi-million dollar deal.
Thus, it filed an amended asset purchase agreement with the Commission, stating that Edge Spectrum will pay 3AB a second $100,000 deposit; the first one was immediately due as of March 1.
Vern Fotheringham, Chairman/CEO of Edge Spectrum, says that the transaction — now in its final stages — presents mutual benefits to everyone involved.
“[Edge Spectrum] is a company with a heart for faith-based broadcasters, and this is an effort to help 3ABN continue to meet its mission,” Fotheringham said.
This means that, for the foreseeable future, 3ABN programming will continue on the stations Edge Spectrum is purchasing.
Fotheringham added, “We are continuing our strategic alignments to help faith-based broadcasters leverage future broadcasting standards and technologies.”
A company spokesperson tells RBR + TVBR that additional information will be released by the end of March regarding Edge Spectrum’s plans for the stations, noting that the company seeks to be “a big player in ATSC 3.0.”
