Spectrum Speculator LocusPoint Picks Up Two Stations for $5 Million

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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.

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.