LocusPoint Picks Up Another Top 20 Market Station - Broadcasting & Cable

LocusPoint Picks Up Another Top 20 Market Station

Scoops up low power Miami outlet for $5.1 million in likely spectrum grab
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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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