Thanks to funding from Bridge News LLC Chairman Manoj Bhargava, the creator of 5-hour ENERGY, the parent of the NewsNet digital multicast TV network has emerged as one of the most active buyers of broadcast television stations over the last six months.
On Thursday, the entity led by CEO Vince Bodiford inked another asset purchase agreement.
The latest acquisition sees Bridge News agree to purchase WBXZ-LD 56, which uses digital channel 23 and is a COZI TV affiliate serving the Buffalo-Niagara Falls DMA.
The seller is Steven Ritchie, a local retired police officer who in December 2013 acquired the low-power television station from Syracuse-based broadcast media licensee Craig Fox.
Nearly a decade later, Ritchie is saying goodbye to WBXZ for $800,000; a 10% escrow deposit is being held with attorney of record Dan J. Alpert.
Serving as the broker in this transaction is The Intrigue Group.
Ritchie’s legal counsel in the deal is Mark Denbo of Smithwick & Belendiuk.
