Southeastern Media is buying UHF WUPV from Lockwood Broadcasting, says broker Patrick Communications.
WUPV Richmond-Petersburg, Va., is changing hands—from one small TV station group to another.
Southeastern Media Holdings is buying the CW (formerly UPN) affiliate from Lockwood Broadcasting for $47 million, according to Patrick Communications, the firm that brokered the deal.
Southeastern is a division of Community Newspaper Holdings Inc., of Birmingham, Ala., primarily a publisher of daily and weekly newspapers. It also owns WFXG Augusta, Ga.; WXTX Columbus, Ga: and WSFX Wilmington, N.C.
Lockwood Broadcasting, based in Hampton, Va., and headed by President Dave Hanna, also owns WHDF Huntsville-Decatur-Florence, Ala., and KTEN Sherman, Texas-Ada, Okla.
Despite the sale, Lockwood is committed to broadcasting. Hanna said fhe group did not intend to sell WUPV, but was approached with an offer that “made sense for us.” The group’s other two stations are not on the block, he said. Lockwood is actively looking to acquire more stations, Hanna said. In fact, he said Lockwood has a “letter of intent” to buy a station but he declined to identify it.