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Entrepreneurs believe it's time to return to small-market television, where viewer loyalty still flourishes
Jason Elkin and John Heinen represent some of the new money coming into the TV business and giving the station-trading maket a lift.
Backed by Arlington Capital Partner, a private-equity firm whose principals include former AT&T chief Ray Smith, and a generous lender, Elkin and Heinen just closed on stations in San Luis Obispo, Calif. (NBC affiliate KSBY[TV] for $39.5 million), and Amarillo, Texas (ABC affiliate KVII-TV and satellite KVIH-TV Clovis, N.M., for $16.85 million),...