Johnston, Allison & Hord recently represented Central Piedmont Community College (“CPCC”) in its acquisition of the PBS television station for the Charlotte region, known as WTVI, from the Charlotte-Mecklenburg Public Broadcasting Authority (“PBA”). Closing occurred on July 3, 2012 after the FCC approved the transfer of three licenses previously held by the PBA (television station license, educational broadband service license, and earth station registration) on July 2, 2012.
The complex transaction, which also involved Mecklenburg County and the Charlotte-Mecklenburg Board of Education, was structured as an acquisition of all of PBA’s assets and selected liabilities. If CPCC had not stepped-in to acquire WTVI, the station likely would have shut down due to financial constraints. The acquisition was considered a success by all of the parties involved and an important victory for the future of public television in the Charlotte region. The team of attorneys from Johnston, Allison & Hord representing CPCC included Jim Allison, Brian Schoeck, and Mark Hanson.