A trio of television stations are adding a stakeholder who will both end up with the biggest piece of the newly-divided pie, and will undertake the task of managing the properties. The stations were all once part of Equity Media.
They include KQCK-TV Cheyenne WY (said to be targeting Denver), KWWF-TV Waterloo IA and WBKI-TV Campbellsville KY (near Louisville KY).
PLLW LLC, headed by Paul Libovitz and Fusion Communications, headed by David McAnally and Jeff Lyle, each entered into the deal with 50% stakes. After everything closes, Barbara Laurence’s Pegasus Minority Media will hold 55%, Fusion 30% and PLLW 15%, according to the contracts.
In addition, Pegasus will be entitled to management fees. It’ll get $25K/month for running KQCK, $20K/month for WBKI and $5.5K/month for KWWF.
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