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KCSM-TV faces the airwave chop shop; hedge fund wants it for its spectrum

Tuesday, May 14, 2013

The College of San Mateo public television station could move a step closer to oblivion today, with the college’s board of trustees set to consider its sale to upstart wireless provider LocusPoint Networks, an entity owned by hedge fund Blackstone Group. The San Mateo Daily Journal says that under an agreement with the prospective buyer, which is interested in the station for its spectrum for potential mobile use rather than its future as a TV station, KCSM would continue to operate until the spectrum is auctioned off.

No word yet on the sales price. Blackstone is a player in the rush to buy up underperforming television properties in advance of an expected FCC push to free up the spectrum they use to expand mobile services. The college tried to sell the station last year, but pulled it off the market after disappointing bids. San Mateo Daily Journal

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