A relatively new player in the television business, OTA Broadcasting, just filed to acquire a full power station in the Providence-New Bedford DMA – and now it has another filing on record for a Class A on the outskirts of Boston. There’s a big ROI for the seller.
The station is WYCN-LP, licensed to the northwest of Boston in Nashua NH. The low-power signal makes it strictly a Nashua over-the-air station, so it relies on MVPD carriage to extend its reach. It is an affiliate of My Family TV, and a retransmission consent contract with Comcast is noted – both entities are on a list that must sign off on the deal.
The seller is New Hampshire 1 Network Inc., part of William H. Binnie’s media group.
The price is $4.1M cash. That’s a lot more than Binnie paid for it. It came with three additional LPTVs in Nashua, Manchester and Concord in a 2010 deal with Center Broadcasting Corporation of New Hampshire that only set Binnie back $10K in cash and no more than $50K in debt assumption.
Binnie will retain assets useful in the operation of co-owned properties which include indy full power television station WBIN-TV and WFNQ-FM. OTA will lease studio space from the television stations.
OTA is headed by Todd Lawyer and William Tolpegin. In addition to the newly-filed deals, it has full power stations in the San Francisco area, in Seattle and Bellingham WA and Class As in Manhattan and Houston.