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BlueStone Mines Lamco Station Group

Sandy DiPasquale’s BlueStone Television, formed after Sunrise Television Corp. was aborbed into LIN TV in 2002, has bought its first stations, Lamco Communications’ 12-station group.

BlueStone bought the stock, rather than the assets, which avoids a double tax hit for Lamco. BlueStone called the purchases platforms for future expansion. The company is backed by Providence Equity Partners, a $5 billion media fund.

Because Providence has an interest in a newspaper in the Greenville market, the purchase will require the spin-off of one of the stations, WCTI(TV) Greenville, S.C., into Newport Broadcasting, a separate company controlled by DiPasquale, former president of Sunrise.

Among the outlets listed by BlueStone as stations in the group are a low power in San Angelo, Texas, and UPN and The WB digital affiliations in Bristol, Va., and Greenville, N.C.

Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.