HAIKU, HAWAII — Across 2023, a flurry of transactions have been finalized that sees the man behind the 5-Hour Energy tonic sign off on the purchase of low-power television stations as part of a plan to convert a digital multicast network into an owned-and-operated broadcast service.
Now, Manoj Bharvaga and Vince Bodiford are at it again. Only, this time they’ve signed a pair of asset purchase agreements giving their Bridge News LLC ownership of full-power broadcast facilities on two different Hawaiian islands, pending FCC approval.
In the first of two separate filings with the Commission, Bridge News is agreeing to purchase KKAI-50, serving the “Big Island” of Hawai’i from Kailua. It presently is an unaffiliated non-secular station, with channel placement on Spectrum cable TV systems across the state of Hawaii.
That’s key for Bridge News as it seeks to bring its NewsNet operation to the 50th state. The seller of KKAI is Kailua Television, and it stands to earn $1.5 million from the sale of KKAI-TV. A 10% escrow deposit has been made; there is no broker or finder associated with this deal.
The legal counsel for Kailua Television is Ari Meltzer of Wiley Law. The legal counsel for Bridge News is Dan J. Alpert, Esq.
The second transaction awaiting the FCC’s OK sees Bridge News agree to purchase KUPU-15 from Hawaii Catholic TV Inc. It is licensed to the O’ahu city of Waimanalo, on the windward side of the island due east of Honolulu.
A $1.5 million purchase price has also been assigned to KUPU-TV, with a 10% escrow deposit being held.
— With reporting from RBR+TVBR Editor-in-Chief Adam R Jacobson, in Boca Raton, Fla.
