Brokerage firm Kalil and Co. has announced a deal in which one seller has contracted with two buyers for a pair of full power TVs and a number of LPTVs. The result will be JSA/SSA combos in Chico-Redding CA and Eureka CA.
The seller is Sainte Partners II LP.
Leading the acquisition partnership is Bonten Media Group. Also in on the buy is Esteem Broadcasting. Terms of the deal were not released.
Bonten already has full power stations in each market, so to stay in compliance with local ownership caps, it will acquire all of the low power stations – five in Eureka and four in Chico-Redding, and Esteem will acquire the two full power outlets. Bonten will then assume the driver’s seat via JSA/SSA agreements in both locations.
The full power stations are KCVU-DT Paradise CA, serving #131 Chico-Redding and KBVU-DT Eureka CA.
Both are Fox affiliates, and they will be pairing up with Bonten’s ABC affiliates, including KRCR in Chico-Redding and KAEF in Eureka.
Bonten and Esteem have a track record working together, with similar arrangements already in place in Tri-Cities WA and Greenville-New Bern NC.
Bonten’s Randy Bongarten commented, “We are pleased to be working once again with Esteem Broadcasting. This arrangement will enable us to enhance the quality and number of news alternatives the viewers of theses markets will enjoy.”
Bonten owns and/or operates 24 television facilities of various types – this deal will add to that number.
For the seller, the sale of the stations is actually woven into the company’s business model. Leader Rob Castro said, “Sainte Broadcasting’s success has been modeled from building and selling television stations. It is always a pleasure doing business with a company like Bonten Media, who we believe will continue to grow upon that success.”