Spectrum Speculator LocusPoint Picks Up Two Stations for $5 Million

Blackstone Group betting on payoff for low power stations in Erie, Milwaukee
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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.

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