Una Vez Mas Wins Texas TV Stations for $28.4 Million
The Federal Communications Commission this week denied petitions opposing the sale of two Texas TV stations in bankruptcy. The commission approved of the sale of KNWS-TV in Katy and KLDT-DT in Lake Dallas, to Una Vez Mas Texas Holdings. Una Vez offered to buy the stations in a bankruptcy proceeding last October from Johnson Broadcasting for a total of $24.8 million. It was to be funded by subsidiaries of Grupo Elektra, one of which owns Spanish-language network Azteca America. UVM represents its largest affiliate group.
Spanish Broadcasting Systems opposed the sale, contending Mexico-based Azteca was directing UVM’s actions during the bankruptcy auction. Azteca’s owners are based in Mexico and therefore cannot entirely own U.S. TV stations. UVM argued that Azteca would have no equity interest in the stations despite its relationship with Grupo.
The FCC found in UVM’s favor, stating, “There is no prohibition on relying on debt financing for all or part of a station acquisition and there is no prohibition on that financing being provided from a non-U.S. bank.”
Azteca America will supply around half of each station’s programming, which the FCC said does not violate its rules. The transfer of licenses was granted.
Deborah D. McAdams