LocusPoint Picks Up Another Top 20 Market Station
After acquiring mostly unaffiliated stations in New York, Orlando, Philadelphia, Tampa and other markets, LocusPoint Networks has agreed to acquire Class A station WLPH Miami for $5.1 million. LocusPoint has Blackstone Group as a limited partner. It is fronted by Ravi Potharlanka and Bill DeKay, both who come from the wireless industry. Potharlanka indicated to B&C that LocusPoint hopes to sell spectrum at auction, but expressed some frustration with what he called a lack of transparency on the matter at the FCC.
Marksteiner AG is the seller; Gunter Marksteiner is president.
M.C. Alcamo & Co. represented the seller and Patrick Communications represented the buyer.
LocusPoint focuses on low power stations in major markets. On April 23, it agreed to acquire W33BY Detroit for $1.63 million, following deals for WDVB New York for $20 million, WMGM in the Philadelphia market for $6 million and WRCF Orlando for $1.25 million, among others.
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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.