Until now, it has served as the home in the Tampa-St. Petersburg market for Miami-based América Tevé.
Soon, the independent Spanish-language television programming seen on the facility, a low-power TV station licensed to Pinellas County’s biggest municipality, will say adios to the fare.
That’s because a religious broadcaster has just snagged the station.
An asset purchase agreement has been submitted to the FCC for approval that sees Prime Time Partners, through its WSPF-CA Station LLC licensee, agree to sell WSPF-CD 35 in St. Petersburg to Faith Broadcasting Network.
WSPF was originally licensed to the City of St. Petersburg, and in 2011 Prime Time Partners put the wheels in motion on acquiring it for roughly $500,000; it closed on its acquisition in May 2012.
A decade later, Prime Time Partners, led by José Rodriguez, has decided to exit a growing market that will soon see entry by Spanish Broadcasting System, which is in the process of acquiring WSUN-FM. It will change its Alternative “97X” programming to a Spanish-language format likely targeting Hispanics of Caribbean heritage, in addition to the growing number of Colombians in the region.
Faith is paying $1,875,000 in an all-cash deal. A $93,750 deposit has been placed in escrow and is being held by Patrick Communications. The brokerage’s Greg Guy represented Prime Time Partners in this transaction.
WSPF does not have mandatory “must carry” status in the Tampa-St. Petersburg DMA, which is vast and includes Sarasota-Bradenton, Winter Haven-Lakeland and Sebring-Lake Wales.
A post-auction repack channel reimbursement cooperation and indemnification agreement is included in the APA.
Faith will assume PTP’s agreement with American Tower Corp., which owns the station’s broadcast tower.
