Class A television stations in San Francisco, Philadelphia and Tampa-St. Petersburg are being bought by Locuspoint Networks LLC. This is not to be confused with an LPTV acquisition – the deals are contingent on the stations maintaining their Class A status.
The San Francisco station is coming from noncommercial religious outfit Family Stations; the other two are coming from companies headed by Randolph M. Weigner, including D.T.V. LLC in Philadelphia and Sunshine Broadcasting Company Inc. in Tampa-St. Pete.
The buyer headed by William deKay and Ravi Potherlanka.
The San Francisco deal is for Channel 28 KFTL-CD. The price: $6.65M.
In Philadelphia, Locuspoint is picking up Channel 38 WPHA-CD for $6.4M.
In Tampa-St. Petersburg, it’s getting Channel 20 WARP-CD for $3.05M.
The total investment from Locuspoint is $16.1M.
All three contracts stipulate that the stations must still be Class As, an important consideration in advance of the upcoming incentive auctions of television spectrum. In the two Weigner contracts, the language goes so far as to state that there should not be an FCC show cause order threatening a license downgrade. In the Family Stations contract, it simply states that the station must still be a Class A.
