Michael Dell was the winning bidder in the auction of a Seattle TV station last week.
As I reported in June, Dell’s personal investment company submitted the opening bid for bankrupt station KFFV TV, which broadcasts Spanish, Mandarin, Cantonese and Korean language shows on channel 44.
The station’s biggest asset may be its spectrum, if the FCC buys the spectrum back and then auctions it to wireless broadband companies.
During the bankruptcy proceeding, Dell’s OTA Broadcasting offered $3.45 million for the station. Another bidder, affiliated with a national broadcasting group, joined the auction and OTA ended up paying $5.05 million.
KFFV had debts of around $2 million and about six employees at an office south of downtown Seattle.
The station’s future is unclear. A call to a spokesman for Dell’s investment group wasn’t immediately returned.
Now the transfer of ownership must be approved by the FCC, a process that could take up to 90 days, according to broker Frank Higney.