The Delaware corporation headed by the former CEO of HC2 Holdings has struck again.
The Philip Falcone-led Sovryn Holdings has struck a deal that will see it add a digital Class A television station in a top DMA to its growing list of properties, pending FCC approval.
Georgia-based Prism Broadcasting Network has signed off on paperwork that will see the transfer of control of WANN-CD 20 in Atlanta to Sovryn.
The purchase price: $5.25 million.
A $200,000 escrow deposit is being held by Doyle Hadden, of Hadden and Associates.
For Sovryn, reaching a retransmission agreement with area MVPDs will be their task, as Prism has not made any elections for the 2021-2023, the asset purchase agreement states.
Serving as Sovryn’s legal counsel in the transaction is Rich Horan of Hogan Lovells.
