Television group Bonten’s plan to double up television operations in Chico-Redding and Eureka has made it to the finish line, according to brokerage house Kalil & Co. Bonten was already active in each market, and will form JSAs/SSAs with acquisition partner Esteem Broadcasting in each.
The full-power stations being acquired include Fox KBVU in Eureka CA and Fox KCVU in Redding CA. Both are being acquired by Esteem, who will then enter into the aforementioned local arrangements with Randy Bongarten’s Bonten Media Group.
The price of the transaction is $2M, which will be to seller Sainte Partners II LP pursuant to terms of a promissory note.
Bonten has ABC affiliates in each market, including KAEF in Eureka and KRCR in Chico-Redding.
Each of the full power stations come with associated low power outlets, which are being acquired by Bonten since they are not attributable when calculating adherence to local ownership caps.
Bonten and Esteem have a track record working together, with similar arrangements already in place in Tri-Cities WA and Greenville-New Bern NC.