Home » NEWS » One family may end up owning all four network television affiliates in the Greenwood-Greenville market

One family may end up owning all four network television affiliates in the Greenwood-Greenville market

GREENWOOD — One family may end up owning all four network television affiliates in the Greenwood-Greenville market.

The Greenwood Commonwealth reports that WXVT-Channel 15, a CBS affiliate, is in the process of being sold for $2.65 million by Saga Broadcasting to a company controlled by Charles Harker’s three children.

The Californian already owns the ABC, NBC and Fox stations — WABG, WNBD and Delta Fox — in the area through the Commonwealth Broadcasting Group.

The deal requires approval of the Federal Communications Commission, which could come by September.

According to documents on file with the Federal Communications Commission, the sale works this way:

Harker, sole stockholder of Commonwealth Broadcasting, has agreed to guarantee a $2.65 million loan to H3 Communications LLC of Century City, Calif.

The officers of H3 Communications are Harker’s three children.

After the sale, H3 Communications will enter into an agreement with Commonwealth Broadcasting to “sell advertising on WXVT and provide traffic, billing, marketing and related services to WXVT.”

A 53-page purchase agreement dated April 3 spells out what each side must do.

It says, in part, that the new owners are under no obligation to hire WXVT’s employees but can do so. The new owners must give a list of the employees they plan to keep to the current owners by June 1.

Harker bought WABG in 2007.

His company launched an NBC station in late 2010. This caused some backlash in Greenwood because cable viewers could no longer get the more-established WTVA of Tupelo.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *

*