Todd Lawyer’s OTA Broadcasting LLC has already invested nearly $21M in television station acquisitions dating back to the summer of 2011, and now they’ve filed to buy another. And the seller of KUGB-CD Houston will get a nice return on its 2010 investment.
The seller is Uniglobe Central American Network Inc., headed by Thomas Abraham.
OTA is led by Lawyer, but the principal ownership is in the hands of MSD Torchlight Partners, a subsidiary of MSD Capital, with holdings attributable to Marc R. Lisker, John C. Phelan and Glenn R. Fuhrman.
The price for the station will be $2.3M cash.
That’s a nice markup from the 1/22/10 price paid by Uniglobe, when it bought the station from Pappas Telecasting of the Gulf Coast for $750K.
Uniglobe will continue to have a presence at the station, although it will be a small one. For no charge, and for a period of three years, it will have the right to program one hour per week of its own programming, any time between 9 AM and 12 Noon on Sunday, and will have access to KUGB’s facilities for up to five hours per week to produce the program.
For OTA, it becomes Class A station number two. It bought WEBR-CD Manhattan NY from K Licensee for $6.6M.
OTA’s other acquisitions have all been full-power stations. It acquired KTLN Novato CA from Christian Communications of Chicagoland for $8M in a deal filed 6/7/11. Next came the $3.45M acquisition of KFFV Seattle from North Pacific International Television on 7/11/11. The third deal was for KVOS Bellingham from Newport Television for $2.9M.