Rapidly growing Class A television group LocusPoint just filed to acquire its second station in Detroit, and before that acquisition’s spot in the FCC deal database cooled to room temperature, it was joined by a new, bigger deal for a Class A in the Big Apple ‘burbs.
The latest acquisition is WDVB-CD Edison NJ, an indy on Channel 23. The seller is Edison Broadcsating LLC, headed by Deepak Viswanath.
LocusPoint is headed by William deKay and Ravi Potharlanka.
According to Larry Patrick and Greg Guy of Patrick Communications, the price for the station will be $20M cash.
LocusPoint has been identified as a likely speculator corporation – an SNL Kagan report included it in a group of companies it believes is acquiring television properties in large markets in advance of the coming incentive auctions. Stations being acquired have included Class As and non-Big Four affiliated full power stations.
The current deal brings LocusPoint’s total investment to $50.2M, all for Class A stations. It only began acquiring stations late in 2012, and already has filed to buy two in Detroit, two in Tampa –St. Petersburg, and one each in San Francisco, Philadelphia, Orlando and Baltimore.