KSMI-LP, an affiliate of Hispanic network Azteca America, serving the Wichita KS DMA from Channel 51, is getting a new owner, assuming that the short-leash requirements of the official transaction contract are met.
The seller is Newmark Communications LLC, headed by Philip B. Newmark. Henry Luken’s Digital Network LLC is the buyer under licensee name Digital Television-Wichita LLC.
Here are the terms that add up to a short leash: The price is $135K if the cash has been paid as of 2/28/10. If it is paid by 3/28/10, the price increases to $150K. If it hasn’t been paid by then, according to the contract, they’ll call the whole thing off.
The contract provides for Digital Television-Wichita to run the station in a local programming and marketing agreement until closing.
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