Spectrum aggregator LocusPoint Networks has closed on two station buys. It has bought WMKE-CA Milwaukee (DMA 35) from KM LPTV of Milwaukee (Myoung Hwa Bae, president) for $2.5 million and WLEP-LD Erie, Pa. (DMA 150), from Hapa Media Properties (Kevin Joel Bae, president), also for $2.5 million. Greg Guy of Patrick Communications was the broker of both deals.
LocusPoint Networks has added two more stations to its growing portfolio. It’s purchasing WMKE-CA Milwaukee (DMA 34) and WLEP-LD Erie, Pa. (DMA 152) for $2.5 million each. WMKE is being sold by KM LPTV of Milwaukee (Myoung Hwa Bae, president) and WLEP has been sold by Hapa Media Properties (Kevin Joel Bae). Headed by William deKay and Ravi Potharlanka, LocusPoint in an investment firm that is acquiring stations with plans to participate in the FCC’s incentive auction. That two-step auction aims to buy spectrum from broadcasters and resell it to wireless carriers. Greg Guy of Patrick Communications was the broker of both deals.