The purchase solidifies its position as the nation’s largest TV broadcast UHF spectrum operator.
The total of $36.4 million is the same as a year ago with increases in retrans dollars partially offset by lower local and political ad revenue.
Lower local and national sales were the culprit and weren’t offset by a 32% rise in digital segment revenue to $20.6 million.
Hagerstown, Md.-based independent WJAL will stop broadcasting at midnight Saturday because the Entravision Communications station’s bandwidth was purchased by the federal government for $26.7 million in the FCC’s incentive auction.
The sale of a full-power and LPTV by OTA Broadcasting to Entravision Communications tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA/Kelsey.
It’s paying OTA Broadcasting $21 million for NBC affiliate KMIR and MNT affil KPSE-LD. Spectrum speculator OTA bought the two from Journal in 2014 for $17 million.
Stock prices of six publicly-traded TV station groups had a rocky first half due to concerns over leverage as well as political, automotive and overall sustainability of the television business model. The companies bounced back a bit in the second quarter, but were still well below where they were on Jan. 1. Analysts, however, see signs for optimism.
Entravision Communications today promoted Don Daboub to EVP of integrated marketing solutions, Mountain Region, effective immediately. Daboub previously was SVP of integrated marketing solutions, Colorado. As EVP, Daboub will lead and manage the integrated marketing solutions team in the Mountain Region which includes Entravision assets in Phoenix; Colorado Springs; Denver; Wichita, Kan.; Albuquerque, N.M.; Las Vegas; […]