The licensee funded and backed by company chairman Manoj Bhargava, the creator of 5-hour ENERGY, and led by CEO Vince Bodiford has agreed to purchase additional low-power TV stations in the Sunshine State, as part of its quest to bring its free-to-air NewsNet digital multicast network to more households.
One month after agreeing to acquire a pair of Miami DMA LPTV properties from David Drucker, the Bodiford-led and Bhargava-funded Bridge News LLC is agreeing to purchase WGCT-LD 38 in Tampa.
The seller is Robert William Carr.
At present, WGCT is leasing eight channels across its digital multicast subchannels, ranging from “The Superchannel” on DT1 to Daystar programming on DT2.
Changes will undoubtedly come to WGCT upon closing of the transaction, signed on Monday (10/24). A $2 million price was agreed upon by the parties. A 10% escrow deposit is being held with the remaining funds due in cash at closing.
Carr is represented in this transaction by Aaron Shainis of Shainis & Peltzman, while Bridge News’ legal counsel is Dan J. Alpert, the Arlington, Va.-based sole practitioner.
Terms of the deal see contract assignments for WGCT DT4 (Aspen Hill Media Group), DT5 (Shop LC Global), and DT7 (Universal Communications Group).
Concurrently, Budd Broadcasting Co. has signed off on the sale of its WOFT-LD 8 in Orlando, which has seven digital multicast channels and RetroTV on its DT1 signal, to Bridge News.
A $1.1 million purchase price has been agreed to by the parties, with a 10% escrow deposit made by Bridge News.
Serving as the broker for WOFT’s sale, representing Gainesville-based Harvey Budd, is Doyle Hadden of Hadden & Associates.
Bridge News will assume Budd’s lease agreement with Richland Towers-Orlando, allowing it to broadcast from the facility without cessation or the need to find a new tower site.
There’s more: Bridge News is also agreeing to purchase WQFT-LD 18 in Ocala, Fla., from Frank Digital Broadcasting and has signed a deal that will give it WO5DH-D in Jupiter, Fla., from New Hola TV LLC.
WQFT is being acquired for $500,000, with a 10% escrow payment made. Hadden served as the seller’s broker of record in the Ocala transaction, too.
The Jupiter facility, which serves northern Palm Beach County, is being sold by an entity led by Wandeley Gonzalez Macias. She contracted the services of David O’Connor of Wilkinson Barker Knauer to serve as New Hola TV’s counsel in this deal.
The value of the W05DH-D sale is $150,000. There is no broker associated with this transaction.
