The trading of Channel Sharing Arrangements secured by companies that shed their broadcast TV stations in the FCC’s recently concluded incentive auction just may be the next big boost for media brokers eager to buy and sell, and collect their commissions.
The latest “CSA” to be dealt involves an affiliate of The CW that fetched $105,731,122 and is now dealing its post-auction channel sharing to Hearst Television for roughly half of its $6.7 million base value.
The CSA is tied to “Triad 20,” the branding associated with WCWG-TV in Greensboro, N.C.
Greensboro TV LLC cashed in by relinquishing the over-the-air signal for the station airing Supergirl and Arrow, among other fare.
Now, Hearst is poised to gain control of WCWG’s intellectual property, exercising an option that allows it to obtain the CSA for $3.3 million.
It’s hardly a surprise to market observers: Hearst owns crosstown WXII-12, the NBC affiliate for Greensboro-Winston Salem, and it produces a 10pm newscast for Triad 20; its CSA is with WXII-12; and Hearst is already operating WCWG via a Shared Services Agreement.
Furthermore, the licensee of WCWG, while listed as “Greensboro TV LLC,” is actually associated with Lockwood Broadcast Group.
There was no broker in this transaction.
Serving as Lockwood/Greensboro TV’s legal counsel is Frank Jazzo of Fletcher Heald and Hildreth.
