An owner with television stations in Houston and Dallas, and that finds itself in bankruptcy court, may have a deal to sell them. The stations are in Chapter 11, and creditors are backing the sale proposal.
The company is Johnson Broadcasting; the stations are KNWS-TV in Houston and KLDT-TV in Dallas.
The potential buyer is Una Vez Mas (UVM), which already owns and operates stations using programming from Azteca America. It has reportedly offered $9M for the Houston station and $5.8M for the Dallas station, a total of $14.8M.
According to the Houston Chronicle, Johnson Broadcasting is continuing to try to work through its difficulties and hang onto the stations. Another hang-up may be the need to put the stations up for auction. A new bidder would have to come up with an additional $800K at minimum – with a $700K break-up fee going to UVM.