In liquidation of Equity Media following bankruptcy last December, Patrick Communications will conduct an auction of 104 stations in 41 markets, including Univision and Fox affiliates.
Patrick Communications will auction off the 104 TV stations of bankrupt Equity Media Holdings in Dallas next Thursday (April 16) at 10 a.m.
Of the 104 stations, only 19 are full power. The rest of low-power or Class A stations. They cover 41 markets and approximately 25 percent of U.S. TV homes.
Any party interested in participating should submit an initial bid and proof of financial capability on of before Monday, Patrick said in announcing the auction.
According to Patrick’s Greg Guy, many of the stations have already attracted bids, but the bankruptcy code requuires an auction before finalizing any deals.
Among the prizes are a cluster of stations, all Fox affiliates, in three Montana markets: Missoula, Great Falls and Butte/Bozeman. Patrick has set the minimum bid on the cluster at $2 million.
Also on the auction block will be Univision affiliates in such markets as Ft. Myers-Naples, Amarillo, Tex.; Oklahoma City: and Kansas City, Mo.
Equity Media sought bankruptcy protection last December after defaulting on a $41.5 million loan.