LOS ANGELES — If you’re stuck in traffic on the 105 or the dreaded Santa Monica Freeway and just saw this headline, beware: We’re not talking about the Spanish Broadcasting System FM known as “La Raza.”
Rather, this KLAX and its sibling are TV stations, and they’ve just been snatched by an entity connected to the President of El Dorado Broadcasters in a deal brokered by Kalil & Co.
In an asset purchase agreement submitted in a Form 314 filing on Monday (6/11) with the FCC, Pollack/Belz Broadcasting is selling KLAX-31 and KWCE-LP 27 in Alexandria, Va., to the Jason Wolff-led Lost Coast Broadcasting.
If this buyer and seller combo sounds familiar, it is because a similar deal transpired in August 2017, in Humboldt County, Calif.
In that transaction, also brokered by Kalil & Co., NBC affiliate KIEM-3 in Eureka-Arcata was sold to Lost Coast-affiliated Redwood Broadcasting by Pollack/Belz for an undisclosed price. That deal closed in December 2017.
Now, Lost Coast is paying $3.5 million for KLAX, branded as “ABC 31,” and KWCE, known as “MeTV Alexandria.”
A $175,000 escrow deposit has been made to Kalil & Co. by Los Angeles-based Wolff, who also serves as the President of radio station owner El Dorado Broadcasters, which has properties in Victorville, Calif., and El Centro, Calif.-Yuma, Ariz.
Pollack/Belz is headed by Memphis-based William H. Pollack.
He said, “We are well acquainted with Lost Coast Broadcasting and confident they will build upon our three-decade stewardship of KLAX-TV. We will always be grateful for the professionalism of our local staff and management, as well as the advertisers and television viewers of Central Louisiana.”
Serving as Pollack/Belz’s legal counsel in this deal is Barry Wood of Wood & Maines in Fairfax, Va. Scott Woodworth of Edinger Associates PLLC was the legal counsel for Wolff.
While Wolff’s name is listed on the APA and across the Form 314 filings, he is the 49.9% owner of Lost Coast. The remaining 50.1% ownership in the company is held by NBI Holdings LLC — a limited liability company that is wholly owned by Brian Brady.
Brady has partnered with Wolff in television ownership through such entities as Cala Broadcast Partners. Further, Brady’s Northwest Broadcasting is the parent of Redwood, with Wolff heading this subsidiary as the minority owner.
Northwest Broadcasting has been in the headlines as of late for its four-month-old impasse over a new retransmission fee agreement with Charter Spectrum.