HC2 Broadcasting Sells Four Television Stations
January 04 2021 - 7:00AM
HC2 Broadcasting Holdings, Inc., the broadcasting subsidiary of HC2
Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC), announced
today that HC2 Station Group, Inc. has completed the sale of three
full power television stations and a low power television
translator for $35 million. The stations included in the sale are
KAZD Dallas, KYAZ Houston and KMOH-TV Phoenix, as well as KEJR-LD,
which operates as a low power translator of KMOH-TV.
HC2 has used the proceeds from the transaction to reduce HC2
Broadcasting’s debt. HC2 Broadcasting continues to have six
television stations in Dallas, five stations in Houston and three
stations in Phoenix as part of its network of 229 stations serving
93 U.S. markets and Puerto Rico. HC2 Broadcasting is the largest
operator of Class A and low power television stations in the
U.S.
“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., Chief Executive
Officer of HC2.
About HC2
HC2 Holdings, Inc. (NYSE: HCHC) has a class-leading portfolio of
assets primarily in Infrastructure, Life Sciences, Spectrum,
Insurance and Clean Energy. HC2 is headquartered in New York, New
York and through its subsidiaries employs 2,864 people.
About HC2 Broadcasting
HC2 Broadcasting Holdings Inc. is the broadcasting subsidiary of
HC2 Holdings, Inc. As of January 4, 2021, HC2 Broadcasting operates
229 broadcast television stations. In addition, HC2 Broadcasting
has approximately 210 silent licenses and construction permits. The
total HC2 Broadcasting footprint, including construction permits,
covers approximately 130 U.S. markets, including 34 of the top 35
markets across the United States and Puerto Rico. For more
information, please visit www.hc2broadcasting.com.
Media Contact:ReevemarkPaul Caminiti/Pam
Greene/Luc HerbowyHC2@reevemark.com (212) 433-4600
Investor Contact:FNK IRMatt Chesler,
CFAir@hc2.com(212) 235-2691
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