It’s paying at least $50,000 for the license, seller Mirage Media is keeping the intellectual property, programming and sales for a new station.
Mirage Media has sold the license for its MNT affiliate KOTR-LP Monterey-Salinas, Calif. (DMA 125), to DiyaTV for $50,000.
All of the intellectual property, programming and sales has moved to another Monterey LPTV-D held by Mirage, which says viewers will not notice any changes. DiyaTV is purchasing only the license. The KOTR call letters and “My11” moniker goes to Mirage’s replacement station.
The sale price is $50,000; terms call for a 10% payment due at signing. The license being sold will need to move from its current digital home of ch. 11. If the digital license can move to chs. 2-6, $50,000 is paid to Mirage Media. If it goes to chs. 7-13, Mirage gets $100,000. A move by DiyaTV to chs. 14-18 will net Mirage an additional $150,000. Should it shift to ch. 19 or higher, Mirage gets $200,000 in additional payments within 90 days of the FCC grant.
Billy Williams is the CEO of Mirage Media, Jeff Chang is president..
Diya TV is led by Ravi Kapur, a journalist who heads a U.S.-based television network targeting South Asian consumers. Its billed as “America’s first and only South Asian broadcast television network,” and offers “local, national and international coverage of our burgeoning community” on affiliates in 19 markets.