New owner coming for Buffalo fixer-upper television station


WNGS-TV Springville NY, serving the Buffalo DMA, hasn’t been in operation since the US said good-bye to analog broadcast television, but a second sale since that time may finally produce an owner who will get it back up and running.

The station was owned by Equity Media Holdings, a failed television group that was financially unable to participate in the DTV conversion. Assets of the company have been sold to numerous buyers.

One of those was Word of God Fellowship, Marcus Lamb’s religious company and parent of the Daystar Television Network. Daystar bought this station along with several others last year, officially becoming the licensee on 7/31/09. However, Daystar didn’t do anything to get this particular station back on the air, and has not so much as assigned an employee to it.

Now it has sold it, however. They buyer is ITV of Buffalo LLC/Code 3 Broadcasting LLC. The principals are Philip A. Arno and Donald M. Angelo.

ITV will pay $2.75M for the station, with $50K going into escrow, $450K coming in cash at closing, and with the remainder coming in the form of two separate promissory notes.

The contract stipulates that the sale is as is, where is, and with all faults.

Daystar will keep the paperwork flowing to get the station’s digital facility up and running, and ITV will fund up to $300K to get the station back up to snuff. It will provide further funding with Arno’s written approval.

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