Wow. The announcement that WTVA-TV in Tupelo left a lot of facts beneath the water line. There are a lot more parts to this one beyond the fact that the Spain family is selling the station to Bob Prather’s Heartland Media. For example, that three of the Big Four networks figure in the deal.
First of all, we now know the price. Heartland will pay $18.7M for the station. It is also on the hook for 50% of the termination costs of a consulting agreement with ATV, up to a maximum of $50K.