Dallas-based Daystar was the biggest buyer, getting seven full-power and nine LPTVs for $7.4 million. Other buyers included Max Media, which netted Fox affliates in three Montana markets for $1.3 million.
Under the protection of Chapter 11 bankruptcy, Equity Media Holdings sold 60 TV stations at auction in Dallas yesterday for $21.3 million, according to Patrick Communications, which conducted the auction of behalf of Equity.
Max Media was the winning bidder of three full-power and three low-power stations in Montana — all Fox affiliates — for $1.3 million. The stations serve Missoula, Great Falls and Butte-Bozeman.
Daystar Television Network, a Dallas-based religious broadcaster, walked away with the most stations. It bought seven full-power and nine low-power stations for $7.4 million.
The full-power stations included in the Daystar buy: WNGS Buffalo; WNYI Syracuse, N.Y.; KQUP Spokane, Wash.; KWBM Springfield, Mo.; KCBU-KNBX Salt Lake City; and WBIF Panama City, Fla.
Equity pulled several stations from the auction, including stations in Kansas City; Mo.; Los Angeles, Ft. Smith-Fayetteville-Eureka Springs, Ark.; Las Vegas; Cheyenne, Wyo.; Waco, Texas; Amarillo, Texas; and Wichita Falls, Texas.
Equity continues to invite bids for the stations.
A hearing to approve the sale of the stations to the winning bidders will be held before the United States Bankruptcy Court in Little Rock, Ark., on April 24, 2009. Sales are subject to higher and better offers until that time, Patrick said.