A transaction that sees Greg Guy of Patrick Communications serve as the broker has just closed.
As such, the parent company of the MeTV Network is now the owner of a Class A low-power television station in Cleveland.
As RBR+TVBR first reported on March 10, W27EA-D in Cleveland has been sold by Media-Com Television, an Akron-based operation led by Bill Klaus.
The buyer is Norman Shapiro‘s Weigel Broadcasting, through its Wisconsin-based TV-49 Inc. licensee.
The transaction is valued at $2.2 million, with a $110,000 earnest money deposit held by Patrick.
Weigel’s legal counsel for this deal is Matt DelNero of Covington & Burling LLP.
W27EA-D has been on the air since May 1996 and has aired the Retro tv network since 2009. With the sale, MeTV Network programming is expected to air on the channel. This would expand the market’s availability of the network, which presently uses the DT2 multicast channel tied to Gray Television’s WOIO-19.
The low-power TV station has been a sibling to WNIR-FM, a Talk station serving Akron that Media-Com will continue to own and operate. The Klaus family has owned WNIR since 1972.
