Minority Media TV 38’s final bid of $6.8 million was enough to win rights to
build a new TV station on channel 38 in Corpus Christi, Texas.
The bid was part of an auction was conducted by the Federal Communications
Commission that lasted 17 rounds and ended Monday.
Minority Media is led by John Warren, who owns no other broadcast properties.
Warren, who is Hispanic, used a 35% bidding credit that brought his actual
bill to the FCC down to $4.42 million.
Buying three FM-radio stations that were also on the auction block was
Michael Radio Group.
The Michael family paid a total of $235,000 for two FMs in Victor, Idaho, and
one in Glenrock, Wyo.
Victor and Van Michael between them own or have stakes in seven radio
stations in Wyoming and Michigan.