LKLDtv, the European Entertainment Network (or EEN), has announced that its website will be “postponed” and its station, KPST-TV, canceled effective March 1, due to equity requirements as a regulated broadcaster.

“Moving our operations to Digital Wave is about economic sustainability,” said Randy Borden, president and CEO of LKLDtv. “LKLDtv has been exploring structural options for a number of years and with most of those efforts coming to naught, we have finally come to the conclusion that this is the only path for us to take to maximize value. KPST-TV was put on the air in 1982 and we will continue to deliver news, weather and information to Lakeland viewers in the future.”

According to a company statement: “LKLDTV is a Modern Media company and it is a matter of economic sustainability that our interests and those of our shareholder are aligned. We are part of the cable and satellite system, and as such, we need to produce programming that will fit well into our affiliate base of 28 territories. KPST-TV, with stations in Lakeland and Tampa Bay, Florida, fits perfectly within our mix, and the stations are a bargain in today’s local broadcasting environment.”

Read the full statement here.

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