MVP Capital (“MVP”) is proud to announce that it advised OTA Broadcasting (“OTA”) on its recent sale of KMIR-TV, the NBC affiliate, and KPSE-LD, the MyNetworkTV affiliate, serving Palm Springs, California to Entravision Communications Corporation (NYSE: EVC). The purchase price was $21 million.
MVP has been OTA’s advisor since 2011, when the company was formed, assisting with both the purchase and sale of over 25 television stations during that timeframe.
Bill Tolpegin, CEO and co-founder of OTA, commented that “OTA is very pleased with the outcome here. We are happy to see these high-quality assets moving into the hands of our friends at Entravision; we know they will do an excellent job with them. And we are once again pleased to have selected MVP to handle this sale for us: their expertise, credibility, and professionalism added real value at every step of the deal.”
The transaction, which is subject to customary closing conditions, including the prior consent of the Federal Communications Commission, is expected to close in the fourth quarter of 2017.
About MVP Capital
MVP Capital provides mergers and acquisitions, private debt and equity capital raising, and strategic and valuation advisory services focusing on the technology, media, telecom and renewable energy sectors. Founded in 1987, MVP has completed over $20 billion of transactions and has offices in San Francisco, New York, Boston, Kansas City and Boulder.
About OTA Broadcasting
OTA Broadcasting (“OTA”) was formed in early 2011 to own and operate independent television stations in large markets throughout the United States. OTA Broadcasting is owned by company management and Torchlight TV Investments, LLC, an affiliate of MSD Partners, L.P., and is headquartered in Fairfax, Virginia.
About Entravision Communications Corporation
Entravision Communications Corporation is a leading global media company that reaches and engages U.S. Latinos across acculturation levels and media channels, as well as consumers in Mexico and Latin America. The company’s comprehensive portfolio incorporates integrated media and marketing solutions comprised of acclaimed television, radio, digital properties, events and data analytics services. Entravision has 56 primary television stations and is the largest affiliate group of both the Univision and UniMás television networks. Entravison also owns and operates 49 primarily Spanish-language radio stations featuring nationally recognized talent, as well as the Entravision Audio Network and Entravision Solutions, a coast-to-coast national spot and network sales and marketing organization representing Entravision’s owned and operated, as well as its affiliate partner, radio stations. Entravision’s Pulpo digital advertising unit is the #1-ranked online advertising platform in Hispanic reach according to comScore Media Metrix®, and Entravision’s digital group also includes Headway, a leading provider of mobile, programmatic, data and performance digital marketing solutions primarily in the U.S., Mexico and Latin America. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.