Edge Spectrum Seals 70-Station 3ABN Deal

The $3.2 million acquisition of some 60 LPTV stations and 10 LPTV construction permits by Edge Spectrum — a.k.a. EICB-TV NET — from a religious non-commercial broadcaster has officially moved forward, following a delay requested by the buyer.

As RBR + TVBR reported March 9, Three Angels Broadcasting in October 2016 agreed to sell a group of television stations to Edge Spectrum. But, Edge Spectrum — using the EICB-TV NET name in its Form 345 filing with the FCC — needed more time to secure its financing for the multi-million dollar deal.

Thus, it filed an amended asset purchase agreement with the Commission, stating that Edge Spectrum will pay 3AB a second $100,000 deposit; the first one was immediately due as of March 1.

Vern Fotheringham, Chairman/CEO of Edge Spectrum, says that the transaction — now in its final stages — presents mutual benefits to everyone involved.

“[Edge Spectrum] is a company with a heart for faith-based broadcasters, and this is an effort to help 3ABN continue to meet its mission,” Fotheringham said.

This means that, for the foreseeable future, 3ABN programming will continue on the stations Edge Spectrum is purchasing.

Fotheringham added, “We are continuing our strategic alignments to help faith-based broadcasters leverage future broadcasting standards and technologies.”

A company spokesperson tells RBR + TVBR that additional information will be released by the end of March regarding Edge Spectrum’s plans for the stations, noting that the company seeks to be “a big player in ATSC 3.0.”

As a business, Edge Spectrum says it is addressing a growing demand for wireless mobile broadband Internet services and for low-cost and high-quality Over-The-Top (OTT) content delivery alternatives to broadband cable and satellite unicast internet service providers (ISPs).
The company is also providing an autonomous network for broadcasters and broadband Internet content distributors seeking to rapidly reach the growing market for cross-platform delivery of video and internet content.