HC2 Broadcasting Sells Four TV Stations for $35M
Sale said to help reduce HC2’s debt
NEW YORK—HC2 Broadcasting Holdings, a subsidiary of HC2 Holdings, has announced the sale of four of its TV stations to an unspecified party or parties for a total sum of $35 million.
The stations sold include full power stations KAZD Dallas, KYAZ Houston and KMOH-TV Phoenix, as well as KEJR-LD, which operates as a low power translator of KMOH-TV.
KAZD Dallas is an Azteca America station, which HC2 Holdings owns (opens in new tab). After the sale, HC2 Broadcasting still operates 229 stations across 93 U.S. markets and Puerto Rico, which it says makes it the largest operator of Class A and low power TV stations in the country.
TV Technology has reached out to HC2 Holdings for more information on the sale, but has received no comment as of publication.
HC2 said that it is using the proceeds from the sale of the stations to reduce HC2 Broadcasting’s debt.
“We are pleased that this transaction advances our strategic initiative to enhance our capital structure by monetizing non-core assets while we maintain our substantial broadcast TV coverage,” said Wayne Barr, Jr., CEO of HC2.
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