Updated at Noon Pacific
On Thursday RBR+TVBR exclusively reported on the acquisition of three LPTVs in the San Francisco DMA by HC2 Holdings.
It is now known that the seller of these low-power facilities is not leaving the area: It has just acquired a full-power facility, in Mendocino County, in order to continue broadcasts to the market.
For $2.15 million, the Keith Leitch-led One Ministries agreed to sell KFTY-2 in Middletown, Calif., located to the north of Calistoga in Lake County; KQRM-2 in Petaluma, Calif., located in the Santa Rosa area, west of Napa and Somoma; and KQRO-2 in Morgan Hill, Calif., near San Jose to HC2 Holdings.
Now, it is taking most of the proceedings and is acquiring KQSL-8, licensed to Fort Bragg, from Jeff Chang for $2 million.
A $5,000 non-refundable deposit has been made to Chang. Then, a $1.795 payment will be made at closing. The remainder will be honored by way of a $200,000 Promissory Note, with 0% interest and a five-year payment schedule of $3,333.33 per month.
KQSL is available on DirecTV and DISH Network and on AT&T U-Verse lineups across the DMA. However, it’s mix of classic movies and syndicated programs is not found on most of the San Francisco-Oakland-San Jose cable lineups.
That could soon change, as One Ministries will likely use KQSL as a replace for its trio of Channel 2 facilities and retain distribution of religious programming from Better Life TV.
However, getting a signal to cable TV subscribers as far south as Morgan Hill could be a challenge. The KQSL transmitter is just west of Laytonville, far north of the San Francisco Bay Area and just south of the Humboldt County line.
While One Ministries is acquiring KQSL, it is concurrently selling to Chang LPTV facility K11WP-D in San Francisco for $1. It happens to have a transmitter high atop Mt. Tamalpais in Marin County, giving it access to the Bay Area’s most populous communities.
This will allow Chang to continue to serve the San Francisco DMA; it was incorrectly reported in an earlier edition of this story that Chang was selling K11WP to One Ministries.