Hubbard announced its deal to buy WNYA last month, but did not disclose the price. The FCC prohibits the ownership of two stations in markets as small as Albany, but in the application Hubbard asks for a waiver on the grounds that WNYA is "failing." Hubbard asserts that WNYA meets all four criteria for the waiver, including that it has posted three consecutive years of negative cash flow. "WNYA's financial condition is dire," it says.
DMA 58
Hubbard Paying $2.3M For 2nd Albany TV
Hubbard Broadcasting is paying $2.3 million to purchase independent WNYA Albany, N.Y., and double up in the market (DMA 58), according to an FCC application seeking approval of the deal. Hubbard currently operates NBC affiliate WNYT there.
Hubbard announced its deal to buy WNYA last month, but did not disclose the price.
The FCC prohibits the ownership of two stations in markets as small as Albany, but in the application Hubbard asks for a waiver on the grounds that WNYA is “failing.” Hubbard asserts that WNYA meets all four criteria for the waiver, including that it has posted three consecutive years of negative cash flow. “WNYA’s financial condition is dire,” it says.
The seller of the station is Venture Technologies, headed by CEO Paul Koplin. According to the application, the limited liability company or its members also have stakes in KBBC Bishop, Calif.; KBCB Bellingham, Wash.; WHTV Jackson, MIss.; and WAOE Peoria, Ill.
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