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DMA 13

WDWO-CD Detroit Sells For $2 Million

TCT Ministries (Garth Coonce, president) is buying the religious-formatted low-power station from spectrum aggregator LocusPoint Networks (Ravi Porharlanka and Bill deKay) for $2 million. Greg Guy of Patrick Communications was the broker.

By Staff | February 23, 2017 | 2:16 p.m. ET.
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Ellen Samrock says:

February 23, 2017 at 3:07 pm

Looks like the auction was a bust for spectrum speculator, LocusPoint. They bought WDWO-CD back in March 2013 for 4 million, obviously with dreams of a major payday (darn that tricky Greenhill Report!). Instead, they’ve just sucked up a 2 million dollar loss on this station. Makes me wonder what other stations they’re going to unload at fire sale prices? The lesson: unless you’re prepared to be a broadcaster, buying a station for the sole purpose of speculation can be a bitch.

    Matt Lawson says:

    February 23, 2017 at 4:53 pm

    Michael Dell will likely loose FAR more than LocusPoint, Cannot wait to see the FCC report on the auction in April.