Forney McMichael is spending just shy of half a million dollars to acquire just a stake just shy of 67% in a Class A CP scheduled for construction in Jacksonville AL. WJXS-CA is located NE of Birmingham between Gadsden and Anniston. It’s scheduled to operate on Channel 20. The price is $7.25K per share, and McMichael is getting about 66.81% of them, for a total cash price of roughly $484K.
RBR/TVBR observation: This obviously may be a very shrewd investment if the FCC ever gets around to ratifying Chairman Kevin Martin’s proposal to grant cable must carry status to Class A television stations.