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PSAINC RECEIVES FCC CONSENT FOR TRANSFER OF 10 TV LICENSES.
(Full text of a statement. Contact details below.)
LOS ANGELES, March 30 /PRNewswire-AsiaNet/ -- PSAINC (OTC Bulletin Board: PSAX) announced today that the Federal Communications Commission (FCC) has granted the transfer of 10 TV licenses from New York Network (WBVT Television, Inc.) to PSAZZ TV, Inc., a subsidiary of PSAINC.
The FCC Consent to Transfer concludes the application review process.
PSAINC anticipates that the FCC will issue its formal Transfer Order within the next 45 days, after which PSAINC expects to conclude its transaction with New York Network. In September 2000, PSAINC executed an agreement for its subsidiary, PSAZZ TV, Inc., to acquire WBVT Television, Inc. from New York Network, LLC.
PSAINC also has options to purchase 3 additional TV licenses from New York Network and is negotiating for the acquisition of 3 more TV stations in the New York area.
New York Network (WBVT) is a cellular network of ten low power television licenses and construction permits that are linked by high capacity fiber optic cable. The network currently serves a dynamic regional market that spans Vermont, New York, New Hampshire and Montreal, Canada. Operating under the call sign WBVT TV, it is an affiliate of the rapidly growing United Paramount Network (UPN). As an affiliate, WBVT has exclusive broadcast rights within the region to UPN programming that includes such widely viewed hit shows as Star Trek, WWF Smack down, Seven Days and, premiering in February, the XFL.
The station has exclusive broadcast rights to Boston Red Sox Baseball and Big East College Football and Basketball.
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