Equity Stations Get $21 Million in AuctionDaystar, Valley Bank the big buyers 4/17/2009 03:33:23 PM Eastern
Equity Media Holdings Corporation auctioned off 60 stations yesterday for a total price of $21.28 million. The big buyer was Daystar Television Network, which purchased seven full-power, eight low-power and one Class A station for $7.4 million, including WNGS Buffalo.
Equity was obligated to bring its stations to auction as part of its bankruptcy agreement. Other buyers include Max Media, which shelled out $1.3 million for three full power and one low-power station, and Valley Bank, which grabbed three outlets, including KQCK in Cheyenne, for just over $7 million.
Patrick Communications acted as the broker.
Several stations remain for sale, including Kansas City Univision outlet KUKC and Cheyenne ABC affiliate KDEV.