James L. Lockwood just closed on an acquisition in the Knoxville TN DMA, and now has a pending deal for a television station in the Greensboro/Winston-Salem DMA. WCWG-TV Lexington NC was once in the ill-fated Pappas group.
The seller is TTBG/WCWG License Sub, part of Titan Television Broadcast Management, the principals of which are connected to NRJ TV, which is believed to be positioning itself to be a player in the impending incentive auctions. David Pulido signed off on the WCWG deal.
Lockwood is the principal of Lockwood Broadcast Group.
Dave Hanna, the group’s President, commented, “We are excited to own a station in the Greensboro DMA, and feel WCWG is a perfect fit for Lockwood Broadcasting. Growth is our mode – we’ve now doubled in size since 2011 – and we will continue to seek out and acquire television properties that complement our business.”
The price for WCWG will be $2.75M cash.
The station uses its DTV side-channel capabilities to carry no less than four networks: CW, Black Television Network, Estrella and Bounce.
Lockwood’s recent closing was for WKNX-TV, which it acquired as WMAK from Daystar in a deal filed last November. It came for $2.95M and formed a Lockwood duopoly in the market with CW WBXX-TV.
Lockwood’s other stations include CW WQCW-TV in Charleston-Huntington WV, CW WHDF-TV in Huntsville-Decatur AL, and KTEN-TV Sherman TX-Ada OK, which is affiliated with NBC, ABC and CW.