Silver Point Capital sells the license and must-carry rights of the San Francisco indie to Stryker Media 2 as well as a channel sharing agreement.
Investors Edward Mule and Robert O’Shea of Greenwich-based Silver Point Capital have sold the independent zombie KOFY San Francisco to Stryker Media 2 for $6 million, according to an FCC filing seeking approval of the deal.
Zombies are stations that sold their spectrum in the FCC incentive auction earlier this year. But they retain the FCC license and attendant valuable must carry rights.
Mule and O’Shea sold the spectrum in the auction for $88.4 million.
The deal also includes a channel sharing agreement that will enable KOFY to continue broadcasting on a subchannel of low power KCNZ San Francisco owned by Poquito Mas Communications.
Mule and O’Shea also own WTVH Syracuse, N.Y., a CBS affiliate operated by Sinclair Broadcast Group in tandem with Sinclair’s NBC affiliate WSTM through joint sales and shared services agreements.
Like KOFY, WTVH was once part of the bankrupt Granite Broadcasting group headed by Don Cornwell.
Principals in Stryker including Terence Crosby and Randy Nonberg also have interest in WIWN Milwaukee, Wis., now broadcasting NBCU’s Cozi TV.