OTA Broadcasting was a big winner in Auction 1000, the FCC’s incentive auction that relinquished broadcast TV spectrum to wireless companies. It pocketed hundreds of millions of dollars, including $72,817,599 for saying farewell to a Class A TV station serving the New York Tri-State Area.
Now, the channel-sharing agreement for the disappearing over-the-air station is bringing this “zombie” to one of the nation’s best-known PBS member stations.
WEBR-17 may be going away, but it forged a post-auction CSA with WNET — the New York educational corporation chartered by the Board of Regents of the State University of New York (SUNY).
Now, OTA is donating the CSA to WNET.
Additionally, OTA is making a $12,500 cash donation to WNET.
S&P Global Market Intelligence, owner of Kagan, was engaged as an independent valuation firm.
Representing OTA as legal counsel in this transaction is Paige Fronabarger with Wilkinson Barker Knauer LLP.
As is traditional for Public Media Company deals, Lerman Senter‘s Sally Buckman served as legal counsel.
In other TRANSACTIONS TODAY:
- Morgan County Broadcasting Co. is selling all of its assets, including tangible real estate, to Sarah Shellhammer for $250,000. The deal includes Class D WJIL-AM 1550, Class A WJVO-FM 105.5, and FM translator W275BM at 102.9 in Jacksonville, Ill. Closing is expected by Dec. 31.
