Here’s a transaction that involves an otter.
That’s the tongue-in-cheek branding for a low-power television facility serving the Monterey-Salinas-Santa Cruz market, which has just been sold in a deal to an entity named Diya TV.
It’s the top deal in detail featured in RBR+TVBR‘s TRANSACTIONS TODAY for March 5, 2018.
Diya TV is led by Ravi Kapur, a journalist who heads a U.S.-based television network targeting South Asian consumers. Its billed as “America’s first and only South Asian broadcast television network,” and offers “local, national and international coverage of our burgeoning community” on affiliates in 19 markets.
Among the stations airing Diya TV is KTSF-Channel 26.2 in San Francisco. Now, Diya TV is poised to add a signal in the nearby Monterey Bay area, thanks to the acquisition of KOTR-LP 2 in Santa Cruz, Calif., and the Construction Permit for KOTD-LD 11 in Santa Cruz.
The seller is Mirage Media II, and it is pocketing $50,000 from the sale of the pair of stations branded as “My 11.”
Terms call for a 10% payment due at signing, in addition to variable “repack” displacement relief. KOTR will need to move from its digital home of Channel 11 (PSIP is Channel 2). But, where it is going has not been finalized. Should KOTR go to Channel 2-6, $50,000 is paid to Mirage Media. If it goes to Channel 7-13, Mirage gets $100,000.
In a sign that the “UHF discount” may indeed be a relic of the Reagan Era, a shift to RF Channel 14-18 will net Mirage an additional $150,000. Should it shift to Channel 19 or higher, Mirage gets $200,000 in additional payments within 90 days of the FCC grant.
Diya began operating the station via a LMA on March 2.
KTSF began serving South Asian viewers through its DT2 signal in March 2014. With this transaction, programming will begin soon.
Viewers will not notice any changes, Mirage Media President Jeff Chang tells RBR+TVBR. All of the intellectual property, programming and sales efforts tied to “My11” have moved to another Monterey-Salinas LPTV-D property held by the company.
In other TRANSACTIONS TODAY:
- Class D translator K288GY at 105.5 MHz, licensed to Tooele, Utah, enjoys a city-grade signal over Salt Lake City. Now enjoying this signal pattern is Dell Loy Hansen’s Broadway Media LS LLC, which is acquiring the facility from Radio Rancho. Broadway Media LS will use K288GY to rebroadcast the HD2 programming of Class C KUDD-FM 105.1 in American Fork, Utah. The sale price is $210,000.
- On Jan. 8, 2018 TRANSACTIONS TODAY reported that FCR Broadcasting is selling to Smile FM a FM translator, W242BH, in Marshall, Mich., for $10,000. An amended Form 345 application has now been filed with the FCC, to remedy a clerical error. The transfer of control is otherwise on track, pending Commission approval.