Equity Stations Get $21 Million in Auction

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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.

Michael Malone
Michael Malone

Michael Malone is content director at B+C and Multichannel News. He joined B+C in 2005 and has covered network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television, including writing the "Local News Close-Up" market profiles. He also hosted the podcasts "Busted Pilot" and "Series Business." His journalism has also appeared in The New York Times, The L.A. Times, The Boston Globe and New York magazine.