BusinessFriday, November 13
A Scientology affiliate has agreed to buy Tampa Bay's WFTT-TV for $30 million
The 5AM St. Petersburg team
If you watch channel 62, the station could soon have a new owner. An affiliate of the Church of Scientology has agreed to buy WFTT-TV for $30 million, pending Federal Communications Commission approval. Entravision Communications Corporation signed with Sunset Boulevard Broadcasting Corporation, a California nonprofit, on Nov. 3, according to a company update.
$30 millioncash price for WFTT-TV
Sunset Boulevard Broadcasting would pay it, and the sale needs FCC approval.
Sources: TBBW, The Globe and Mail
WFTT is licensed to Venice and serves the Tampa-St. Petersburg market. It has aired the Scientology Network since Christmas Day 2022, and the sale is expected to close by early 2027.
- Deposit: $1.5 million in escrow
- If unfinished after Dec. 31: $125,000 a month to Entravision
- Entravision's temporary operations support: ends by March 31, 2027
The WFTT sale is expected to close by early 2027
- Dec. 2022WFTT begins airing the Scientology Network.
- Nov. 3Entravision and Sunset Boulevard Broadcasting sign the sale agreement.
- Dec. 31If the sale is unfinished, the church will pay $125,000 a month from Jan. 1.
- Early 2027The sale is expected to close, pending FCC approval.
- March 2027Entravision's temporary operations support must end.
Source: TBBW
Sources: TBBW, The Globe and Mail