The multimedia company that evolved from the bankrupt Liberman Broadcasting to become one of the biggest competitors to both NBCUniversal’s Telemundo network and TelevisaUnivision’s radio and television stations has opted to part ways with two low-power television stations in a pair of Southwestern U.S. markets.
Who’s the buyer? Look no further than the most active acquirer of LPTV properties in recent memory, funded by dollars earned from the sale of 5-Hour Energy tonic.
RBR+TVBR has confirmed the sale by Estrella Media of both KSDX-LD in San Diego and KVPA-LP in Phoenix to Bridge News LLC.
That’s the entity fueled by Manoj Bhargava that is in the process of converting the distribution of its 24/7 news channel, NewsNet, from a digital multicast offering to an offering found on owned-and-operated stations Bharvaga and CEO Vince Bodiford can monetize through the implementation of ATSC 3.0-related non-broadcast services.
Serving as Estrella Media’s broker in the transaction is Greg Guy, and he’s crafted a deal finalized on September 11 that sees Estrella pocket $3 million from the sale of the LPTVs.
A 10% deposit has been made by Bridge News, and is being held with its legal counsel Dan J. Alpert.
Estrella’s legal representative is Kathleen Kirby, assisted by Jessica Rosenthal at Wiley LLP.
The former Liberman Broadcasting, operating as LBI Media, acquired KVPA in August 2008 from Charles Wesley Burd’s Latin American Broadcasting of Arizona for $1.25 million. KSDX was purchased in 2004.
