Now, Kapur is expanding his holdings by traveling north to Redding.
Kapur’s Major Market Broadcasting is acquiring “NEW” low-power TV station K13AAX-D in Redding from Roseland Broadcasting.
The agreed-to price is structured so that Roseland gets $500. Then, Kapur has agreed to pay 50% of the FCC filing fee ($335), plus reimbursement of any Roseland legal expenses (if any) up to a maximum of $1,000.
Roseland is headed by Matthew Davidge and Julie Huang. That’s the licensee that earlier this year agreed to a series of deals with HC2 Broadcasting.
As the clock strikes Midnight, low-power TV stations that haven’t been built yet and haven’t secured extensions from the FCC will disappear into the ether, with their respective licensees forfeiting the right to create them.
For some, the race against the clock meant engaging in deals before time expires. These fresh transactions involve such companies as HC2 Holdings and Gray Television, and noted brokerage Kalil & Co.
By 11:59 p.m. local time on July 13, all LPTV/translator stations must terminate all analog television operations regardless of whether their digital facilities are operational.
But, what about stations that have not yet constructed a digital facility?
Too late. They must cease analog television operations as clock strikes Midnight, and remain silent until construction is completed.
If a station went silent prior to completing construction of its digital facility, it had the opportunity to file a request for silent authority. The FCC granted one last extension of time of digital construction permits, of not more than 180 days, but they had to be filed no later than March 15.
That was four months ago, and in that time some licensees have opted to spin their unbuilt facilities to others willing to get them up and running.
In Fargo, N.D., this sees Roseland Broadcasting, headed by Matthew Davidge and Julie Huang, acquiring K40NO-D.
The seller is HC2, and it is earning $7,000 from the sale.
As RBR+TVBR reported in December 2017, Davidge considers himself a “media entrepreneur” and since January 2015 has been co-founder and CEO of Bluestream Health, a telehealth company.
Davidge has also been a digital strategy consultant to MTV Networks, and owned in-hospital TV networks housed under The Wellness Network through the end of 2015.
From 2013-2018, Davidge was the co-owner of Price Hill Television, owner of NBC affiliates WRDE-31 in Salisbury-Ocean City, Md., and WVNC-45 in Watertown, N.Y.; and CBS affiliate KSWL-17 in Lake Charles, La., which debuted on Feb. 15, 2017.
HC2 is also spinning three stations tied to DTV America Corp., an entity it has majority ownership in, and a permit for a HC2 Station Group-licensed facility.
From DTV are W23DV-D in Athens, Ga.; K26PF-D in St. Cloud, Minn.; and W15DC-D in Florence, S.C. From HC2 is K21LB-D in Lincoln City, Ore.
The buyer of these four permits is Innovative Media Technologies, and it is paying just $35,000 for them. The broker: Sterling BCG, representing the buyer, led by Virginia-based Vince Castelli.
The Asset Purchase Agreement is misleading, as the four facilities are listed by DMA, rather than their actual city of license and immediate coverage areas.
Then, there is the Vern Fotheringham-controlled licensee CTB Spectrum Services Two LLC. Through this entity, Fotheringham is spinning four LPTVs-to-be to Gray Television.
CTB has been a seller, and on June 25 sold a collection of unbuilt facilities to Jeff Winemiller‘s Lowcountry 34 Media alongside facilities licensed to Landover 2 LLC, controlled by Laurence Zimmerman.
Zimmerman is teaming up with Fotheringham by also selling unbuilt LPTVs to Gray.
And, the transaction was finalized on Monday (7/12), with the Landover 2 and CTB stations going to Gray in a single asset purchase agreement.
This sees Gray agree to acquire the following permits:
Call Sign
Community of License
Facility ID
Permittee
W49DU-D
Chula, GA
186162
Landover 2 LLC
W45EA-D
Columbus, GA
185775
CTB Spectrum Services Two
W49DR-D
Iowa, LA
185547
CTB Spectrum Services Two
W50EJ-D
Lake Charles, LA
185817
CTB Spectrum Services Two
K33MW-D
Sherburn, Minnesota
186443
Landover 2 LLC
K45LQ-D
Bismark, North Dakota
186094
Landover 2 LLC
K39LK-D
Dickenson, North Dakota
186119
Landover 2 LLC
K46ME-D
Williston, North Dakota
187437
Landover 2 LLC
K38OK-D
Minot, North Dakota
187460
Landover 2 LLC
K46LO-D
Deadwood, South Dakota
186050
Landover 2 LLC
K48NF-D
Deadwood, South Dakota
186051
Landover 2 LLC
K42KU-D
Caputa, South Dakota
186060
Landover 2 LLC
K40MR-D
Caputa, South Dakota
186061
Landover 2 LLC
K23MQ-D
Duluth, Minnesota
185810
CTB Spectrum Services Two LLC
K43OH-D
Racine, Minnesota
186458
Landover 2 LLC
K45MO-D
Racine, Minnesota
186459
Landover 2 LLC
K19KE-D
Jolly, Texas
186356
Landover 2 LLC
Gray is paying $712,000 for the LPTV CPs.
Kalil & Co. served as the sellers’ broker of record in this transaction.
The LPTVs will likely be operated alongside existing Gray stations. In Georgia, the Chula facility will be controlled from Albany; Gray owns a station in Columbus.
Iowa, La., is to the east of Lake Charles, where Gray has a property, too. The Sherburn, Minn., LPTV will likely be used to rebroadcast its Mankato station.
Jolly, Tex., is within the Wichita Falls DMA, where Gray has a presence.
One month ago, a licensee headed by Matthew Davidge and Julie Huang agreed to purchase a trio of yet-to-be-constructed low-power TV stations serving small communities in Illinois, New Mexico and North Dakota, respectively.
They’ve now struck a series of bigger deals with the entity that in May agreed to spin those three unbuilt LPTVs — HC2 Broadcasting.
With David O’Connor of Wilkinson Barker Knauer LLP serving as the legal counsel for the seller, HC2-owned DTV America Corporation, Davidge and Huang’s Roseland Broadcasting is acquiring the following properties in the first of multiple deals filed with the Commission:
KJYK-LD, Beaumont – Port Arthur, TX (FCC Facility 187686)
K27LN-D, Fargo – Valley City, ND (FCC Facility 187248)
The purchase price? A $35,000 payment has been agreed to.
There is no broker or finder associated with this transaction, agreed upon June 14.
Three days later, a second asset purchase agreement was submitted with the Commission for approval.
This sees the following properties shift from DTV to Roseland:
Call Sign
Facility ID
File Number
Service
City, State
K19JY-D
187686
00001504465
LPD
Beaumont, TX
K27LN-D
187248
00001504466
LPD
Fargo, ND
K36MT-D
188803
00001504467
LPD
Paragould, AR
K35LN-D
188810
00001504468
LPD
Paragould, AR
K35PC-D
184635
00001504469
LPD
Rochester, MN
A purchase price for these stations was not immediately known.
As RBR+TVBR reported in December 2017, Davidge considers himself a “media entrepreneur” and since January 2015 has been co-founder and CEO of Bluestream Health, a telehealth company.
Davidge has also been a digital strategy consultant to MTV Networks, and owned in-hospital TV networks housed under The Wellness Network through the end of 2015.
From 2013-2018, Davidge was the co-owner of Price Hill Television, owner of NBC affiliates WRDE-31 in Salisbury-Ocean City, Md., and WVNC-45 in Watertown, N.Y.; and CBS affiliate KSWL-17 in Lake Charles, La., which debuted on Feb. 15, 2017.
A low-power Iowa TV station operated by Bahakel Communications via a Shared Services Agreement with a company that assumed would be its new owner is heading back to the company that intended to sell it due to “problems” it suffered.
Instead, a Georgia LPTV is being assigned.
KGLU-LD in Ottumwa, Iowa, is a station Bahakel runs via an SSA with SagamoreHill Broadcasting.
It’s been assumed SagamoreHill would be the owner of the station for months.
Now, via a Memorandum of Understanding filed with the FCC on Monday (6/17), it is now known that SagamoreHill — and Bahakel — will not have KGLU as part of their future plans.
A prepaid amount of $71,000 is being refunded by the facility’s seller, DTV America Corp.
That is a licensee tied to HC2 Station Group, the entity led by Philip Falcone that is rumored to be having difficulty closing many of the deals it struck in 2018 as part of a plan to gain an upper hand on the data delivery benefits associated with the ATSC 3.0 next-gen broadcast TV standard.
Closing of the KGLU did not occur, DTV says, due to “delays engendered by the problems encountered by the licensee” — DTV America.
In lieu of the refund, SagamoreHill successor Roseland Broadcasting is getting another facility: WDMN-LD 14 in Augusta, Ga.
The memorandum of understanding is dated April 4, signaling that the exchange of WDMN for the Ottumwa property has been completed.
Roseland President is led by Julie Huang. It is based in Little Rock.
Aaron Shainis of Shainis & Peltzman served as the buyer’s legal counsel.
The LPTV deal is the third in three months for Huang.
On March 8 Roseland agreed to purchase W34EC-D in Chattahoochee, Fla., from CTB Spectrum Services LLC. One week later, it agreed to an $80,000 deal that saw it acquire the following properties from Spirit of Prayer Ministries:
K04RL-D, Amarillo, Texas, FCC Facility ID No. 187582
K03IT-D, Orange, Texas, FCC Facility ID No. 187584
K13NY-D, Tyler, Texas, FCC Facility ID No. 187585
New, Redding, California, FCC Facility ID No. 183127
A Little Rock-based division of Media Gateway providing ways for stations to produce local newscasts in their markets in a high-tech and “cost-effective” way has been purchased by a pair of broadcast executives who own and manage 18 TV stations across the U.S.
Acquired by Mike Reed and Bill Christian is INN, and once the deal closes the entity will take on the new name of NewsHub.
Christian and Reed officially assumed control of NewsHub on Saturday (6/1), with Matthew Davidge giving them the keys. He’d been overseeing INN and parent Media Gateway since March 6, when company founder Jeff Lyle passed away.
INN, in operation for more than a decade, is the result of Lyle’s efforts in the creation of “news hubbing,” where centrally located anchors read for satellite stations.
“We have been their clients for many years and strongly believe in the quality newscasts they provide,” says Christian. “We believed in them so much, we decided to buy the company.”
NewsHub will remain in Little Rock and will be managed by Elden A. Hale Jr., the newly named Corporate Director of News for Waypoint Media. INN moved to Little Rock from Davenport, Iowa, where it was born under Media Gateway ownership in 1999.
Waypoint will serve as the parent company of NewsHub, joining 18 television and radio stations in Mississippi, New York, Tennessee, Arkansas and Indiana.
NewsHub has multiple news studios, producing simultaneous newscasts for TV stations across the country. “We will continue to serve as a professional outsource that coordinates professional studio, production, and on-air talent with local stations’ reporters,” Hale says. “Our ability to create customized newscasts as well as digital-only platforms in this format is unmatched in local television.”
Jeff Lyle operated and ran Media Gateway in Little Rock for years. He was a pioneer of central casting over IP and was a friend to me and many others in the industry. He went home to Davenport for the Holiday Season in 2018 and suffered a massive stroke. He passed away in March 2019. Brian Short then stepped in at very short notice to take over the management of the Little Rock facility. It was a tremendous shock to lose Jeff. LATER NOTE: In 2020, Brian would move the facility and much of the equipment to an new all-IP plant in Kansas that operates as TV Masters.
Jeff Lyle of Media Gateway in Little Rock is recovering from a stroke, owner Matthew Davidge said.
Jeff Lyle, the Little Rock TV engineer who ran SSN Media Gateway LLC before suffering a stroke last month, died March 9 at the age of 56.
He was general manager of central Arkansas’ major broadcast and master control service outsourcer for TV stations around the country. The 35,000-SF headquarters is at 1 Shackleford Drive.
“Jeff was warm, kind and a technically brilliant TV engineer,” said Matthew Davidge, the British-born New York investor who bought Media Gateway several years ago, helping it emerge from the implosion of the Soul of the South Network.
Since Lyle’s stroke, Davidge has taken a bigger role in managing day-to-day operations at Media Gateway, which takes signals off satellites, lines up programming with local commercials and newscasts, and ships it directly to broadcast transmitters, cable outlets and dish services.
Lyle’s funeral will be at 2 p.m. Saturday at Grace Baptist Church in Austin, Minnesota. The service will be streamed live to a gathering at the Holiday Inn Little Rock-Chenal Parkway, where a viewing room will open at 1:30 p.m., Davidge said.
“Jeff was a leader, mentor and friend to staff, colleagues and associates as well as a pioneer in technical TV matters,” said Lynette Brown, controller at Davidge’s Roseland Broadcasting, based in New York. “He will be deeply missed.”
In every transaction there is a buyer and a seller. But, sometimes the buyer may not be the party set to operate the station it is acquiring.
That may be the case here, as a Beaumont, Tex., LPTV facility is going to a company with 11 television properties — and four separate shared service agreements allowing others to operate eight of them.
The station trading hands is K02RA-D, an LPTV facility in the Texas city that until now has been owned by Spirit of Prayer Ministries.
The buyer is SagamoreHill Broadcasting, operating as licensee “SagamoreHill of Beaumont LLC.”
The company is picking up the LPTV facility for just $23,000, and a $2,000 deposit has been made to the seller.
The licensee is led by member Julie Huang, who is based in Little Rock.
Will SagamoreHill run the LPTV facility, or will one of its shared services agreement (SSA) partners take over operations once SagamoreHill closes on the transaction?
Of the company’s stable of 11 stations, only one — NBC affiliate WLTZ-38 in Columbus, Ga. — is operated by the company.
Bahakel Communications operates WNCF-32 in Montgomery, Ala.; and KGLU-LD 17 in Ottumwa, Iowa.
Morgan Murphy Media operates KVCT-19 in Victoria, Tex., and KFJX-14 in Pittsburg, Kan., a station formerly operated via a SSA by Saga Communications.
Quincy Media is the operator of SagamoreHill-licensed KXLT-47 in Rochester, Minn.
Then, there is Cordillera Communications, owner of KRIS-6 in Corpus Christi, Tex., and the operator of SagamoreHill’s KZTV-10 in the market.
TV Companies with a presence in Beaumont include Sinclair Broadcast Group, which owns CBS affiliate KFDM-6; KBMT-12, a TEGNA station with ABC programming on its main signal and NBC programming on KBMT’s DT-2 signal; TEGNA’s KBMT-LD, a MyNetwork TV station; and Deerfield Media-owned and Sinclair-run FOX-affiliated KBTV-4.
With Hispanics comprising 13.4% of the population, K02RA-D could wind up becoming an affiliate of either Azteca América or Telemundo. Houston-based O&Os presently provide programming to the Beaumont-Port Arthur, Tex., DMA.
A low-power TV station serving a market impacted by Hurricane Harvey in 2017 is trading hands. This facility is the subject of a March 2012 Order to Show Cause issued by the FCC, seeking answers as to why Class A authorization should not be modified to LPTV.
That involved a previous owner. Now, the current owner has decided to part ways with the facility, and it’s the lead deal up for discussion in RBR+TVBR‘s TRANSACTIONS TODAY for Thursday, Jan. 4, 2018.
The station is KYCC-LP 45, licensed to Corpus Christi, Tex.
Abraham Telecasting Co. is selling the station for $30,000, with a $1,000 deposit made by the buyer, Roseland Broadcasting of Corpus Christi.
Roseland is paying a $5,000 brokerage fee, to Kozacko Media. Serving as the buyer’s legal counsel in this transaction is Aaron Shainis of Shainis & Peltzman. The Law Firm of Dan J. Alpert served as legal counsel for the seller.
KYCC is a LPTV, and not a Class A, following a 2012 inquiry from the Commission regarding its programming.
In order to qualify for Class A status, the Community Broadcasters Protection Act of 1999 (CBPA) provides that a LPTV must have broadcast a minimum of 18 hours per day; broadcast an average of at least three hours per week of programming produced within the market area served by the station; and must have been in compliance with the Commission’s rules for LPTV stations. Part 73 requirements except for those that do not apply for technical reasons also must be adhered to by Class A stations.
Commission records show that, on November 12, 2007, then-KXCC-CA went silent pursuant to special temporary authority (STA), citing “financial constraints” but stating that it was “actively working to develop a strategic plan for the optimal use of the station’s resources in order to resolve the situation.”
Then-owner CASA of Corpus Christi briefly resumed broadcasts from Nov. 5-Nov. 7, 2008, presumably to avoid automatic expiration of its license. The station remained silent from Nov. 7, 2008 until Oct. 30, 2009, when it “reportedly” resumed operation. It is unclear for how long the station operated; according to the Children’s Programming Reports filed for the station for all four quarters in 2010, KXCC-CA aired no children’s programming in 2010 citing “severe financial hardship.”
CASA next requested silent authority in November 2010, representing that the station had gone silent on Oct. 31, 2010. Operations then resumed on Oct. 29, 2011, but then ceased once again two days later.
Given the 40 months out of 52 months KXCC-CA was off the air, “it is highly unlikely that CASA adequately maintained a main studio consistent with our rules,” the Commission determined.
CASA’s legal counsel in 2012 was Kathleen Victory of Fletcher Heald & Hildreth.
In other TRANSACTIONS TODAY:
Silent FM translator K264CT in Santa Clara, Utah, is being sold by Morgan Skinner’s Americast Media to Tri-Star Media, led by Ray Carpenter,for $12,500 and forgiveness of a loan to Rockwell Media Services. The translator is at 100.7 MHz and was applied for in August 2017 in FCC Auction 99. This transaction also includes a construction permit for new facility KZEZ-AM 1490 in Santa Clara, which was intended as the originating broadcast station for this translator. These stations serve the non-rated St. George, Utah market, a growing retirement community to the north of Las Vegas by 90 minutes.
NEW YORK — A presently silent low-power TV station serving Ohio’s state capital is heading to a new owner.
This facility was once the market’s home for Azteca América programming. Who’s the buyer? An Oxford-educated, New York-based investor in TV and media who runs a mini private equity portfolio.
In a Form 345 filing made with the FCC, TVO Media is selling WCPX-LP, a low-power TV station with a construction permit to broadcast on UHF Channel 35 in Columbus, Ohio.
The buyer is Roseland Broadcasting of Columbus Ohio Licenses LLC — an entity that lists a post office box at The UPS Store in the Hell’s Kitchen section of Manhattan as its address.
Upon closer inspection of the filing, the owner of this company — and the individual paying for the postbox on Eighth Avenue and West 53rd Street — is Matthew Davidge.
Davidge considers himself a “media entrepreneur,” and in February 2016 acquired the Little Rock-based media communications center previously owned by Soul of the South Network that serves as the home for Media Gateway, which he co-owns. Media Gateway is an outsourced master control and news-reading company.
Based at the Arkansas facilities is “Frixxer,” founded in September 2015 as “a network of short-form (under :30) microvideo content for the channel-hopping TV audience.”
Davidge has also been a digital strategy consultant to MTV Networks, and owned in-hospital TV networks housed under The Wellness Network through the end of 2015.
Today, under his company Box 773, Davidge is the co-owner of NBC affiliates WRDE-31 in Salisbury-Ocean City, Md., and WVNC-45 in Watertown, N.Y.; and CBS affiliate KSWL-17 in Lake Charles, La., which debuted on Feb. 15, 2017.
Now, Davidge is looking at TV ownership in a much bigger market: DMA No. 32.
The purchase price for the Columbus LPTV station, which has been dark for nearly two years, is $25,000. A 10% security deposit has been made to Shainis & Peltzman, the seller’s legal counsel.
WCPX has had a difficult history. It debuted in January 1985, and in 1998 aligned itself with the Pax TV network from the former Paxson Broadcasting. From 2005-2007, WCPX found itself again an unaffiliated station, until adopting ION programming for most of 2007.
In January 2008, the Spanish-language Azteca América network found itself a home in Columbus, an emerging Hispanic market, in WCPX. The affiliation agreement ultimately failed, with WCPX shifting to the Mexicanal network while still targeting first-generation Hispanic immigrants.
Then came the loss of operations on WCPX’s original channel, analog UHF Channel 48. That’s because full-power WSYX-6, Columbus’ ABC affiliate owned by Sinclair Broadcast Group, began broadcasting in digital on Channel 48 on Aug. 30, 2010.
In the repack, WSYX is to move to digital Channel 28, while WCPX holds an application to reclaim Channel 48.
TVO Media, the seller, is led by Sarasota, Fla.-based Cathleen Hancock.
The broadcast building at 1 Shackleford Drive, once the headquarters of Equity Media Holdings Corp., has housed its share of financial controversy over the years. It’s now being run by Matthew Davidge (inset).
Matthew Davidge, through his Truro One LLC, is suing investors in the Soul of the South Network to recover $135,119 allegedly owed on a delinquent promissory note.
The debt originated on Oct. 24, 2014, as a $125,000 loan from Tyrone Burroughs of Memphis to the Soul of the South Network investors.
The Burroughs loan was secured by a mortgage on the 30,800-SF broadcast building at 1 Shackleford Drive, which Davidge bought in February. His Truro One acquired the Burroughs loan in May.
In a separate transaction back in February, Davidge bought out four of the five investors in SSN Media Gateway and renamed the operation Media Gateway.
Some of SSN Media’s pre-Davidge dealings spawned two lawsuits by Mediacom Communications Corp. of New York and a delinquent employee withholding claim of $27,752 by the Arkansas Department of Workforce Services.
Mediacom’s lawsuits concern money allegedly owed on two dedicated internet access fiber agreements.
The claims are linked with SSN Media Gateway tapping service at the WGMD-FM facility in Lewes, Delaware, $46,952; and Eastern Illinois University in Charleston, Illinois, $45,514.
According to the complaints, the lion’s share of the debts is associated with early termination fees. The claims stem from bills dating back to 2014 and into early 2015.
You might recall the SSN Media Gateway investors who sold to Davidge were Dr. Sev Hrywnak of Chicago, an entrepreneurial podiatrist; Edwin Avent of Baltimore, who helped launch Soul of the South Network; and two Little Rock businessman long associated with the property, Larry Morton and Greg Fess.
Under the heading of it’s a small world after all: the Little Rock law firm of Allen & Withrow is representing Mediacom in its litigation against SSN Media Gateway. Lori Withrow, one of Morton’s daughters, hangs her shingle at A&W.
Although legal paperwork concerning the tiffs predates Davidge entering the picture by a couple of months, the lawsuits didn’t get filed until several months after the ownership change.
Jeff Lyle, former managing partner of SSN Media Gateway and now Media Gateway partner with Davidge, signed the agreements with Mediacom.
The co-owner of Interactivation wrote to Arkansas Capital Corp. and offered an ominous assessment: “In my opinion, Soul of the South will fail unless new management is brought in, a new business strategy is adopted and new investment capital is raised. (Good luck with all that.)”
As part of the sale, various creditors with a security claim on the property made concessions.
The Arkansas Economic Development Commission agreed to lower the bar on the original grant reimbursement agreement that was part of the Soul of the South deal.
The $500,000 grant awarded by AEDC will be considered repaid in full if Davidge’s SSN Media Gateway LLC creates 70 new full-time positions with an average salary of $15.50 per hour at the west Little Rock facility by March 1, 2018.
The original agreement with SSN Funding Ltd., representing Soul of the South investors, called for the creation of 111 new jobs with an average salary of $27.11 by Dec. 17, 2017.
The change in terms reflects the equivalent of a $144,844 write-down on the $500,000 grant based on the amended reimbursement agreement.
Enter Frixxer
Davidge, a Brit by birth and East Coast dweller, intends to renovate the facility and base his new micro-content TV show there.
In a press release statement, the former MTV networks consultant noted:
“The people and the business climate in Little Rock are warm and welcoming. This will be a great home for my new show, Frixxer.
“I’ve spent a lot of time here over the last six months and like it a lot. I just wish there was a direct flight to New York.”
Davidge is a co-owner of Mag Rack, a video-on-demand TV service, and a former owner of The Wellness Network, linked with 2,300 U.S. hospitals.
The Soul of the South building at 1 Shackleford Drive in Little Rock.
An offer to purchase the note on the building housing Soul of the South and several related entities fell through after three days late last month.
Matthew Davidge, co-owner of a holding company called Interactivation, submitted a letter of intent June 26 to purchase the building at 1 Shackleford Drive for an undisclosed price. The holding company has offices in New York and Wisconsin and owns several television and health properties.
Several entities have an interest in the building, including Arkansas Capital Corp. and the Arkansas Economic Development Commission, for loans and grants provided to Soul of the South, according to real estate records. The building is owned by Rock City Media LLC, a company with ties to Soul of the South, but ACC holds the note for a $1.5 million loan.
Just three days after submitting the letter of intent to ACC, Davidge withdrew the offer. He gave no reason but noted he had spoken with Ladly Abraham, chairman of Soul of the South’s board of directors, and felt like changes should be made at the company.
As he wrote to Arkansas Capital Corp.: “In my opinion, Soul of the South will fail unless new management is brought in, a new business strategy is adopted, and new investment capital is raised. (Good luck with all that.)”
Davidge did not immediately return a message seeking additional comment.
Soul of the South CEO Doug McHenry said earlier this year that the company was struggling to pay its bills, and he has not called a board meeting in several months. McHenry has not returned messages seeking comment in recent weeks, and board secretary Bill Campbell said he had not heard about the proposal.
Mac Hogan, a board member and early investor in the company, resigned from the board and its related entities last month. He wrote in his resignation letter that he “assume[d] the company has ceased operations.”
