Richard French is buying the independent zombie from Lenfest Broadcasting. The deal includes a channel sharing agreement with WPHY-CD Philadelphia.
WMCN Atlantic City Sold For $6 Million
RNN, a New York-based company led by the French Family (Richard French), is buying zombie WMCN Atlantic City, N.J. (part of the Philadelphia market, DMA 4), from Lenfest Broadcasting. The sale price is $6 million.
WMCN sold its spectrum earlier this year in the FCC incentive auction for $63.1 million. However, like other full-power stations that sold their spectrum, WMCN retains its FCC license including must-carry rights. This transaction includes the construction permit and a channel sharing license with WPHY-CD Philadelphia.
RNN also owns television stations in New York and Boston. Separately, RNN News produces three 24-hour news channels for Verizon — FiOS1 News Long Island, FiOS1 News New Jersey and FiOS1 News Lower Hudson Valley.
The seller is a Philadelphia-based company headed by H. Chase Lenfest.
Kalil & Co. brokered this transaction.