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Independence Media – Relinquishing WYBE

Independence Media will receive a one-time payment of $131.5 million from the FCC in exchange for the WYBE license. As part of the Broadcast Incentive Auction, the FCC is purchasing licenses from broadcasters to make spectrum available for wireless broadband use.

Independence Media will terminate its broadcast, cable, and satellite television services after the FCC distributes the proceeds to television stations across the country. Independence Media broadcasts on channel 35 and operates on cable systems as MiND.  Independence Media, a nonprofit corporation, will remain in operation.

For more from Independence media, please see the PRESS RELEASE.

And for more comments from Independence Media, see the article from Philly.com.