Buyers of struggling little TV stations could make big money in airwave auction

On March 29, the Federal Communications Commission will take its latest step toward using multimillion-dollar payoffs to urge broadcasters to give up their airwaves, which in many cases would force them off the air. The spectrum then would be auctioned to telecommunications companies to be used to deliver mobile broadband and Wi-Fi services for America's fast-growing wireless appetite. The biggest winners in the first-of-its-kind auction could be a handful of the nation's newest — and most anonymous — station owners.

Companies such as NRJ TV, OTA Broadcasting and LocusPoint Networks have kept a low profile the last few years while snatching up dozens of small TV stations in Los Angeles (CA), San Diego (CA), San Francisco (CA), New York (NY), Chicago (IL) and other markets. The buyers, which include one involving computer magnate Michael Dell, are widely seen as speculators in on the 21st century frontier of wireless spectrum. They have purchased sometimes-struggling TV stations on the cheap and are expected to try to sell the rights to their airwaves in the FCC auction that begins March 29. There's potential for a huge windfall.