Broadcasting Telecasting (Oct-Dec 1958)

STATIONS CONTINUED Broadcasting Corp. to Springfield Television Broadcasting Corp. (WWLP [TV] Springfield, Mass.) for 20% interest in Springfield. WWOR-TV is a semi-satellite of WWLP. Christal's Petry Stock Is Acquired by Petry The long-standing anomaly of one station representative owning a sizeable chunk of another was ended last week when Edward Petry & Co. acquired the block of Petry stock owned by Henry I. Christal, of the radio representation firm bearing his name. Mr. Christal, with the Petry company from its inception in 1932 until 1951, owned 44% of voting and one-third of non-voting stock of the Petry firm. The price paid him for it in last week's settlement was not officially disclosed but was estimated to be $600,000 to $650,000. The Petry company, aside from its representation activities, owns about 36% of KFMBAM-TV San Diego and KERO-TV Bakersfield, Calif., and a smaller minority in WIP Philadelphia. Under the new stock arrangement Mr. Petry will continue to control the voting stock and will share the non-voting stock equally with Edward E. Voynow, executive vice president. Under the old arrangement Messrs. Petry, Voynow and Christal each had one-third of the non-voting shares. Mr. Christal opened his own firm, representing only radio stations, in January 1951. CHANGING HANDS ANNOUNCED ^ZZ^l anonunced last week. All are subject to FCC approval. WTEL PHILADELPHIA, PA. • Sold to WTEL Inc. by Foulkrod Radio Engineering Co. (E. Douglas Hibbs, president) for $450,000. Buyers are equal partners John E. and George D. Hopkinson and Quentin C. Sturm, who also equally share ownership of WKAB Mobile, Ala. Mr. Sturm has 6.35% interest in WLOI La Porte, Ind. The application for this sale has been filed with the FCC. WTEL is on 860 kc with 250 w, day. WTAC FLINT, MICH. • Sold to Leonard Chess, president of Chess Producing Corp., Chicago record manufacturer, by First Broadcast Corp., wholly owned subsidiary of multiple owner Founders Corp. for $278,000. The sale was handled by Allen Kander & Co. WTAC is on 600 kc with 1 kw, day, 5 kw, night, and is affiliated with ABC. KSMN MASON CITY, IOWA • Sold to Harry Campbell and Donald F. (Red) Blanchard by Charles V. and Ruth Warren for $140,000. Mr. Campbell is announcer and a farm editor of WLS Chicago; Mr. Blanchard appears on that station as an m.c. The sale was handled by Allen Kander & Co. KSMN is on 1010 kc with 1 kw, day. TRACK RECORD ON STATION SALES, APPROVAL mmmmmmmmmmmmmmmmmmmmmfi IT LOOKS THE SAME, BUT on closer examination it's only made of wood. Broadcast properties may look alike too, but only an expert can correctly identify the true worth. Before negotiating for radio and tv stations, consult the recognized expert, BLACKBURN AND COMPANY, specialists in negotiations, financing and appraisals. NEGOTIATIONS FINANCING APPRAISALS RADIO TV NEWSPAPER BROKERS WASHINGTON, D. C. OFFICE MIDWEST OFFICE James W. Blackburn Jack V. Harvey Joseph M. Sitrick Washington Building Sterling 3-4341 SOUTHERN OFFICE WEST COAST OFFICE H. W. Cassill Clifford B. Marshall Colin M. Selph William B. Ryan Stanley Whitaker California Bank Bldg. 333 N. Michigan Avenue Healey Building 9441 Wilshire Blvd. Chicago, Illinois Atlanta, Georgia Beverly Hills, Calif. Financial 6-6460 JAckson 5-1576 CRestview 4-2770 APPROVED The following transfers of station interests were approved by the FCC last week. Also see For the Record, page 107. Page 94 December 8, 1958 KGMB-AM-TV HONOLULU, KHBC-AMI V HILO, KMAU-TV WAILUKU, ALL HAWAII • Sold (control of Hawaiian Broadcasting System Ltd.) to Hialand Development Corp. by Consolidated Amusement Co. Ltd. for over $8.7 million. New owners have 17 stockholders. Those with other broadcast interests are Roy J. Turner (12.5% in KWTV [TV] Oklahoma City, Okla.) and C. Dale, M. Clare and Lloyd W. Miller (1.57% in KARD [TV] Wichita, Kan.). KGMB-TV is on ch. 9 and is affiliated with CBS-TV. Ch. 9 KHBC-TV and ch. 3 KMAU-TV operate as satellites of KGMB-TV. KGMB is on 590 kc with 5 kw. KHBC is on 970 kc with 1 kw. Both are affiliated with CBS. WCHV CHARLOTTESVILLE, VA. • Sold to Eastern Broadcasting Corp. (WRC-TV Washington sales coordinator RA. Neuhoff, president) by Charles and Emmalou Barham for $200,000, plus $10,000 to Blackburn & Co. which handled the sale. WCHV is on 1260 kc with 5 kw, day, 1 kw, night, and is affiliated with ABC. KLAN RENTON, WASH. • Sold to Walter N. Nelskog and others, doing business as Seattle Musicasters by Interlake Broadcasting Corp. for $192,000. Mr. Nelskog owns 25% KUDI Great Falls, Mont., 80% KUDE Oceanside, Calif., 25% KQDY Minot, N.D., and 58% KQTY Everett, Wash. Comr. Rosel Hyde voted for a McFarland letter in this case. KLAN is on 910 kc with 1 kw, directional antenna same pattern day and night. Bassett Joins Eastman as V.P. Morton G. Bassett, veteran radio salesman, is joining Robert E. Eastman & Co. as vice president and New York manager of the station representation firm, President Robert Eastman is announcing today (Dec. 8). The appointment is effective immediately. Mr. Bassett was with John Blair & Co., radio station representative, for 10 years until he bought WROD DayMR. BASSETT tQna Beach? pla ^ last December and left to operate the station. He sold WROD in September. M-Q Offers Connecticut Lineup McGavren-Quinn, New York, radio-tv station representative, is announcing today (Dec. 8) the formation of a new Connecticut radio station group, consisting of WNHC New Haven, WKNB Hartford, WNAB Bridgeport, and WATR Waterbury. The group will be sold to advertisers under a single buy. Broadcasting