Madison Tech sub to acquire Phoenix low-power TV station KPHE-LD for $2M cash

Madison Technologies Inc.

Subsidiary Sovryn Holdings buys KPHE-LD (Phoenix) from Lotus TV of Phoenix LLC.
Purchase price $2,000,000 cash; $100,000 escrow deposit already paid.
Closing subject to FCC consent; occurs 3 business days after FCC grant and conditions satisfied.
Assets include FCC licenses, tangible personal property, contracts, and intangible property.

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