Polnet Communications Ltd. is now the proud owner of WPVN-CA (and WPVN-LD), after the official closing of its acquisition of the Class A television station from Nelson TV Inc. Polnet adds the Aurora IL facility to its group of four Chicago area radio stations. Nelson remains in the market with several radio and television facilities. According to Media Services Group broker Bob Heymann, who represented the seller, the price was $1.6M.
Meanwhile, Robert H. Drewry’s Midessa Broadcasting LP has closed on its acquisition of a flotilla of low power stations in Texas and headlined by full-power KEYU-DT Borger, which serves the Amarillo DMA. The seller is bankrupt Equity Media Holdings. According to brokers Larry Patrick & Greg Guy of Patrick Communications, who represented the seller, the price was $1.2M. In addition to KEYU, the deal included three more LPTVs in Amarillo, two in Wichita Falls and two in Waco-Temple-Bryan.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.