Spectrum Speculator LocusPoint Picks Up Two Stations for $5 Million

By Michael Malone
( Broadcasting & Cable )
published

LocusPoint Networks, with Ravi Potharlanka as president and CFO, has picked up a pair of stations as it continues to aggregate broadcast spectrum for possible sale at auction. LocusPoint agreed to acquire low power RTV affiliate WLEP in Erie, PA from Hapa Media Properties for $2.5 million, and Class A WMKE Milwaukee from KM Communications for $2.5 million as well.

Greg Guy of Patrick Communications brokered both deals. Kevin Joel Bae is affiliated with the seller in both cases.

After acquiring mostly unaffiliated stations in New York, Orlando, Philadelphia, Tampa and other markets, LocusPoint Networks agreed to acquire Class A station WLPH Miami for $5.1 million in April. LocusPoint has Blackstone Group as a limited partner.

Michael Malone
Michael Malone

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.