A rapidly-growing partnership that has been snapping up large market television properties has struck again – Local Media TV is moving into the Chicago area with a deal to acquire W40CN-D, licensed to Sugar Grove IL.
The seller is Waubonsee Community College. It uses the station as part of its educational television and learn at home programs. In addition to broadcasting over the airwaves, it is available on Comcast, MediaCom and AT&T U-Verse MVPD systems.
The price for the station will be $750K cash.
The station is located to the west of Chicago and does not throw a signal over the actual city.
Paul Koplin signed off on the deal for Local Media. It’s a partnership primarily between Loop Partners and Telcom Local Media LLC, and lists among its principals Monish Kundra, James Fleming, Rajendra Singh, Serge G. Martin and Lawrence Rogow, as well as Koplin.
It has been an active buyer since the beginning of the year, picking up low power stations in New York, Philadelphia and Los Angeles. It also has full power stations in its portfolio acquired in earlier deals.