Both the seller and the buyer are very happy with the $6.5M deal sending the license and transmitter of KWHD-TV, serving Denver from nearby Castle Rock CO. Liberman is adding the 15th largest Hispanic market, while LeSEA pays down debt and retains a presence in the market via DirecTV.
LeSEA has six other television stations, including one in Colorado Springs, and is on Channel 367 on DirectTV in Denver. It says it will use the cash from the station sale to pay down debt associated with the DTV transition.
Peter Sumrall, Pres. of LeSEA Broadcasting said “This is a win – win situation for us. We will continue to have a great television presence over the air in Denver and we will have raised significant capital to pay down debt derived during the digital conversion of all of our domestic television stations.”
Liberman gains access to a large Hispanic population and expands its footprint over the total US Hispanic population to 70% in acquiring its 8th television station.
“Our portfolio of O&O and affiliate stations has just gotten stronger as a result of our entrance into the booming Hispanic market of Denver. Adding a full power, must-carry television station in a top 15 Hispanic market is very positive for the Estrella TV network and Liberman Broadcasting in general,” said CEO Lenard Liberman. “Estrella TV effectively reaches a broad spectrum of Spanish-speaking viewers with our fresh alternative programming and provides local and national advertisers with unparalleled strategic solutions to drive their businesses. We also look forward to playing a proactive role in the local Denver community as an advocate for Hispanic issues.”
The cash deal was brokered by Kalil and Co.