The ink is barely dry on the initial acquisition applications from LocusPoint Networks for large market Class A television stations, and now another one has shown up at the FCC. The latest will be the company’s second in Florida and fourth overall.
The station is WRCF-LP, which operates on Channel 29 in Orlando.
The seller is Specialty Broadcasting Corporation, headed by Charles Namey.
Locuspoint it headed by William DeKay and Ravi Potharlanka, among others.
The price will be $1.25M, making it the least expensive of the company’s acquisitions.
There are a several features of interest in this deal. For one, the seller has been contracted to remain as the station’s manager. For another, the transaction comes with an estimate to build out a digital facility valued at a little more than $150K. Finally, the contract stipulates that the seller must maintain the station’s Class A status – this was true of the other three as well. It would not be good for WRCF to wind up among those the FCC has downgraded to LPTV status in advance of incentive auctions.
The San Francisco deal is for Channel 28 KFTL-CD. The price: $6.65M. The seller is Family Stations.
In Philadelphia, Locuspoint is picking up Channel 38 WPHA-CD for $6.4M. The seller is a company headed by Randolph M. Weigner.
In Tampa-St. Petersburg, it’s getting Channel 20 WARP-CD for $3.05M. The seller is another company headed by Randolph M. Weigner.
The total Locuspoint investment for all four stations now stands at $17.35M.