LocustPoint Networks was expanding in 2013. Now it’s selling, just closing a deal involving three assets in quick turnarounds.
The three Class As are: WMJF-CD Towson, Md., WBNF-CD, Buffalo, N.Y. and W33BY-D, Detroit.
The $23.75 million deal is between LocustPoint CEO Bill deKay and President Ravi Potharlanka, selling to HME Equity Fund II, LLC, with Seth Ellis as managing partner.
According to RBR+TVBR records, LocustPoint purchased WMJF from Towson University for $1.8 million in 2013. Also in 2013, the broadcaster purchased WBNF from Faith Broadcasting for $1.4 million that same year.
Finally, LocustPoint purchased W33BY from Religious/Community-oriented WHPR-TV Highland Park/Detroit in 2014.
All three are fairly large markets, with Detroit DMA#13, Buffalo DMA#52 and Towson, outside Baltimore DMA#26.
WMJF-CD is 5,000 W @ 374’ AGL on Channel 39, while WBNF-CD is 15,000 Watts @ 554’ AGL on Channel 15 and W33BY-D is 4,000 Watts @ 213’ AGL on Channel 33.
Patrick Communications was the broker for the deal, with Greg Guy and Jason James acting for the seller.
