HC2 BROADCASTING NATIONAL MAP CIRCA 2019 - LICENSED, BUILT AND CP'S
TROUBLE IN HC2 BROADCASTING LAND?
ACTIVIST SHAREHOLDERS ACUSE HC2 CHAIR & CEO FALCONE WITH MULTIPLE ABUSES OF POWER, AND OFFER NEW SLATE OF DIRECTORS
HOW WILL THIS BATTLE OF WALL STREET PLAYERS AFFECT THE LARGEST LICENSEE OF CLASS-A AND LPTV SPECTRUM?
TODAY'S HC2 STOCK TICKER
Falcone has made a huge bet on TV spectrum, with indie full powers, Class-A's, licensed LPTV, and LPTV CP's. While we are unsure of the exact total amount of invested capital, it is far in excess of $100 million. And HC2 now runs the largest ATSC 1.0 channel lease business model, with dozens of networks under contract for carriage.
Last we reviewed their quarterly report they were cash flowing revenues of about $10 million a quarter, and had expenses of a little more than $12 million a quarter. And they seem on track for opex breakeven late in this calendar year. They borrow each fall at a high interest rate and pay it off over the year.
It has been a rough time for them though, integrating over 350 properties, repacking, and applying for relo funds (more on that below).
For full disclosure, our sister organization, Airwaves USA brokered 8 stations to HC2 in 2018/2019.