Huntsville distress sale filed


James Lockwood is looking to build a television duopoly in the Huntsville-Decatur-Florence AL DMA, but he'll need an FCC waiver for starters, and then will need to restore WYLE-TV to the air to complete the project. Lockwood owns WHDF-TV in market, the local CW affiliate on Channel 15. According to Wikipedia, Channel 26 WYLE was a Jewelry TV affiliate, and previously was part of the Shop at Home Network, but according to paperwork filed with the transaction contract it's been silent since February due to financial distress. The price works out to 1.2M plus.

Lockwood, filing as WYLE TV LLC, has already submitted a 100K deposit, will add 330.5K cash at closing, will pay legal fees amounting to 69.5K, will issue a promissory note to the tune of 700K, and will also pay an unreported amount to brokerage firm Media Services Group, which signed a station marketing agreement with ETC about two years ago. Lockwood owns two other full-power television stations in addition to his WHDF. He owns NBC KTEN-TV in Sherman TX-Ada OK and CW WQCW-TV in Charleston-Huntington WV.