Broadcasting Telecasting (Jan-Mar 1960)

amendment. NAFI engages in automotive and carpet, oil and gas business in addition to broadcasting. NAFI has arranged to buy all outstanding stock of the Chris-Craft Corp., well-known boat manufacturer, and intends to use part of the money raised through the stock issue to repay a bank loan of $6 million, borrowed for this purpose, the statement says. Financial statements on KCOP and KPTV are included in the prospectus: For the year ended June 30, 1959, KCOP made $4,214.792 in tv revenues, but showed a net loss of $481,838; KPTV, in the four months of 1959 that NAFI owned it, showed a net profit of $133,473 before deduction of $66,257 for "amortization of intangibles." The prospectus stated that "since its inception, KCOP has operated at a loss." Paul V. Shields is chairman of the board of NAFI and a partner in Shields & Co.. N.Y., which is underwriting the stock offering. John G. Bannister is NAFI's president. NAFI earned $990.935 for the year ended Dec. 31, 1959, or $1.01 per share on the outstanding 1,029,155 shares of capital stock. Changing hands ANNOUNCED • The following sale of station interests was announced last week, subject to FCC approval. • KRAM Las Vegas, Nev.: Sold by A.R. Ellman and Anthony C. Morici to Suna Broadcasting Corp., Leonard Blair, president, for $328,000. Messrs. Ellman and Morici continue holdings in KIST Santa Barbara and KGMS Sacramento, both California. KRAM operates on 920 kc with 1 kw daytime and 500 w nighttime. David Jaret Corp. was broker. • WSBS Great Barrington, Mass.: Sold by John Parsons, James Miller and Dorothy Crane to J. Leo Dowd for $122,000. Mr. Dowd is a marketing consultant and was formerly sales director for International Silver. WSBS operates on 860 kc with 250 w daytime. Broker was Paul H. Chapman Co. • KVNA Flagstaff, Ariz.: Sold by Frontier Tv Corp., group headed by John L. Hogg, to Albertson Broadcasting Corp. for $70,000. Purchaser is headed by Roy L. Albertson Jr., 73%, Roy L. Albertson Sr., 9%, and others. The Albertsons formerly owned WBNY-AMFM Buffalo, N.Y. Mr. Albertson Jr. has an interest in KNOT Prescott. Ariz. KNVA is on 690 kc with 1 kw daytime, 500 watt nighttime. Sale was handled by Wilt Gunzendorfer & Assoc. • WDAL Meridian, Miss.: Sold by Southwestern Broadcasting Co., headed by Louis Alford, to Mr. and Mrs. Roth Hook, Hugh Hughes, Willie Weems and others for $65,000. Mr. and Mrs. Hook have interests in WDOB Canton. WELZ Belzoni, WMAG Forest, all Mississippi, WKIZ Key West, Fla., WRUS Russell ville, Ky., and WRAG Carrollton, Ala. Messrs. Hughes and Weems are associated with WMAG Forest, Miss. Southwestern continues its holdings in WAPF McComb and WMDC Hazelhurst, both Mississippi. WDAL is 1 kw daytimer on 1330 kc. Sale was handled by Paul H. Chapman Co. • KLOG Kelso, Wash.: Sold by James D. Higson to K-L Broadcasting Inc. for $65,000. Purchasers include Marcus and Myra De Launay. Mr. De Launay was formerly manager of KVAN Vancouver, Wash., and Mrs. De Launay was employe of KISN Portland, Ore. KLOG is a 250 w daytimer on 1490 kc. The sale was handled by Wilt Gunzendorfer & Assoc. APPROVED • The following transfers of station interests were among those approved by the FCC last week (for other commission activities see For The Record, page 143). • KTRN Wichita Falls. Tex.: Sold by Texoma Broadcasting Company, headed by A. Boyd Kelley, to Broadcasting Associates Inc. for $379,450. Broadcasting Associates is controlled by C. A. Sammons who, through holdings, has majority stock in KWAT Watertown, S.D. Raymond Ruff, who purchased 20% of KTRN, has a minority interest in KITO San Bernardino, Calif. • WINE-AM-FM Amherst, N.Y.: Sold by John W. Kluge and Marcus J. Austad to the McLendon Corp., Gordon McLendon, president, for $287,500. McLendon owns KLIF and KOST (FM) Dallas, KILT and KROW (FM) Houston, both Texas, and WAKY Louisville, Ky. Through subsidiaries or affiliates, the corporation owns KTSA San Antonio, Tex., KEEL Shreveport, La., and KABL, Oakland, Calif. Commissioner Robert T. Bartley dissented. • KCLE-AM-FM Cleburne, Tex. : Sold by George Marti to Jim Gordon for $145,000. Mr. Gordon has been regional sales manager for KCEN-TV Temple, Tex., for six years. AP radio-tv awards WCYB-AM-TV Bristol, Va., took first place in the annual AP broadcast competition for cooperation in exchange of news in 1959. President Daniel W. Kops (WAVZ New Haven, Conn., and WTRY Troy, N.Y.) of AP Radio & An invitation to visit us during the NAB convention Chicago Conrad Hilton Hotel Suite 1323 April 3-7, 1960 NEGOTIATIONS FINANCING APPRAISALS ^Blackbium & Compmu/ Incorporated RADIO TV NEWSPAPER BROKERS WASHINGTON, D. C. James W. Blackburn Jack V. Harvey Joseph M. Sitrick Washington Building STerling 3-4341 MIDWEST H. W. Cassill William B. Ryan 333 N. Michigan Ave. Chicago, Illinois Financial 6-6460 ATLANTA Clifford B. Marshall Stanley Whitaker Robert M. Baird Healey Building JAckson 5-1576 WEST COAST Colin M. Selph Calif. Bank Bldg. 9441 Wilshire Blvd. Beverly Hills, Calif. CRestview 4-2770 134 (THE MEDIA) BROADCASTING, March 28, 1960