Univision is shelling out $6 million dollars to buy WMGM-TV 40, a station licensed to Wildwood, N.J., on the fringe of the Philadelphia market.
Now an independent station, it was formerly an NBC affiliate serving Southeast New Jersey until December of 2014.
That’s the year Spectrum speculator LocusPoint Networks bought the station for $6 million, hoping to sell it at a profit in the incentive auction. WMGM had no takers in the auction and LocusPoint opted to sell the station to Univision at the same price it purchased it for three years ago.
Why would Univision buy a station, when the company also participated in the spectrum auction?
“WMGM presented us with an attractive opportunity to act on and we like the options that this asset offers us in a major U.S. market,” a Univision spokesman tells Media Moves. He would not say what the company’s plans are for the station.
Univision already has WUVP 65, an owned and operated station in Philadelphia.
