LocusPoint Picks Up Another Major Market Station
LocusPoint Networks has agreed to acquire the Detroit Class A station W33BY Detroit for $1.63 million. With Ravi Potharlanka as president and chief financial officer, and he and Bill DeKay as cofounders, LocusPoint has been stockpiling broadcast assets in major markets. It is presumed that LocusPoint, which is backed by Blackstone Group, looks to sell the spectrum in auction.
Potharlanka did not respond to an email at presstime.
Acquisitions include WDVB in the New York DMA for $20 million, WMGM in the Philadelphia market for $6 million and WRCF Orlando for $1.25 million. LocusPoint defines itself as “an early stage wireless communications company” on its website.
W33BY is an independent station. Highland Park Broadcasting, with Robert J. Watkins as president, is the seller.
Patrick Communications brokered the deal.
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Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.