Score another one for Philip Falcone‘s HC2 Station Group.
In an asset purchase agreement filed with the Commission on Friday (4/6), HC2 is acquiring yet another low-power TV station. This time, it is snagging a Class A facility that just happens to be in one of the nation’s biggest revenue markets.
Also in TRANSACTIONS TODAY: CNZ Communications completes a Texas TV buy involving both Kalil & Co. and Patrick Communications.
The property is KSKJ-CD, which uses PSIP Channel 18 to reach viewers across the San Fernando Valley as a simulcast sibling of full-power KSCI-18 in Long Beach, once one of the nation’s most successful TV stations to air Asian programming.
Today, KSCI is running a schedule of infomercials, and apparently no longer needs the low-power boost in Van Nuys, where KSKJ is licensed to.
HC2 is paying $9.25 million for the Class A, which is set to move to digital Channel 26 from its current home of Channel 45.
The seller is NRJ TV, which was one of the bigger winners in the FCC’s spectrum auction. In Los Angeles, it successfully parted ways with the broadcast spectrum associated with KNET-TV, earning $53,737,188 in the process.
It seems KSKJ didn’t attract any favorable bids, and now it is cashing out.
For HC2, it represents another signal that can be used by Azteca América, which HC2 acquired in Q4 2017.
A $693,750 escrow deposit has been made to NRJ by HC2.
There is no broker or finder in this transaction.
CNZ Completes Lone Star Buy
In a transaction that saw Patrick Communications representing the seller and Kalil & Co. as the buyer’s broker, CNZ Communications LLC has completed its $450,000 purchase of KYTV-DT in Del Rio, Texas.
The seller is SATV 10 LLC.
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