As RBR+TVBR has shared with its readers across 2023, Bridge News LLC has emerged as one of the nation’s most active buyers of low-power television stations. It is tied to a push to transition the operation of its NewsNet channel from a digital multicast offering to owned properties.
Now, NewsNet is poised to land owned-and-operated digital LPTV facilities in two of the nation’s largest markets. It’s thanks to a deal brokered by Greg Guy of Patrick Communications.
Bridge News is agreeing to purchase WHTV-LD in New York and WCHU-LD in Oakwood Hills, Ill., a suburb of Chicago. The seller is Paul Koplin-led Venture Technologies Group, who is widely known for his efforts to keep existing “FM6” operations on the air, using 87.7 MHz as a permanent audio accompaniment to television facilities licensed to broadcast at Channel 6.
An $8 million purchase price has been agreed upon, with a 10% deposit being held by The Law Office of Dan J. Alpert, serving as legal counsel to Bridge News.
Acting as legal counsel to Venture Technologies is Wiley Rein; Patrick Communications represented Koplin’s group in the transaction.
WHTV uses digital channel 31 and has a PSIP of Channel 18.
WCHU uses digital channel 7 and has a PSIP of Channel 3.
NewsNet is led by Vince Bodiford and is financed by Manoj Bhargava, who is the creator of the 5-Hour Energy liquid supplement.
