As RBR+TVBR has reported, HC2 Broadcasting has been selling various non-essential properties as part of an effort to raise capital — a major campaign being waged by chief executive Wayne Barr Jr. following the exit one year ago of Philip Falcone.
Within HC2 is DTV America Corp., and that licensee is selling properties, namely unbuilt construction permits. In the latest deal to involve yet-to-be-constructed LPTVs facing a July 13 sign-on deadline, DTV via HC2 is parting ways with three mini-stations in Wisconsin and a fourth in Texas.
The buyer is a family-owned entity based in Central California.
With Scott Woodworth of Edinger Associates signed on as their legal counsel, the Castro Family-led My Central Valley LLC of Fresno is acquiring the following unbuilt LPTV stations:
- KUMJ-LD, Beaumont – Port Arthur, TX (FCC Facility 182036)
- K32OH-D, Duluth, MN – Superior, WI (FCC Facility 186867)
- W26FD-D, La Crosse – Eau Claire, WI (FCC Facility 184328)
- W34EO-D, Wausau – Rhinelander, WI (FCC Facility 184338)
The deal is valued at $30,000.
Serving as the broker in this deal, representing the buyer, is Sterling BCG.
The buyer is led by Roxzan Castro, and with CEO Josh Castro at the helm, My Central Valley operates KMSG-53, the MyTV Network affiliate serving Fresno.
Until September 2020, Josh Castro spent 5 ½ years as the GM of KAIL-TV in Fresno.
Now, he is working with a famed digital multicast pioneer in the build-out of the new MyNetworkTV affiliate serving the central San Joaquin Valley of California.
Castro answered these questions and more in a lively RBR+TVBR InFOCUS Podcast, presented by Dot.FM.
