The NBC affiliate in the Philadelphia DMA is being sold by Access.1 Communications to spectrum aggregator LocusPoint Networks.
DMA 4 (PHILADELPHIA)
WMGM Wildwood, NJ, Selling For $6 Million
Access.1 Communications is selling its only TV station, WMGM Wildwood, N.J., to LocusPoint Networks for $6 million. WMGM is an NBC affiliate, operating on the fringe of the Philadelphia market (DMA 4).
Access.1 is principally owned by Todd Boehly. Although Access.1 has no other TV stations, it owns 13 radio stations in New Jersey, New York, Texas and Louisiana.
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.
According to the application, LocusPoint has bought or is in the process of buying 12 low-power TV stations, 11 of which are Class A facilities.
Kalil & Co. represented the seller, while Greg Guy of Patrick Communications represented the buyer.
Comments (1)
Ashley Messina says:
November 7, 2013 at 6:54 pm
Sad to see it go… In the days of analog, it had great coverage -often making it to D.C.’s Virginia suburbs…