Broadcasting Telecasting (Apr-Jun 1961)

Changing hands ANNOUNCED ■ The fallowing sales of station interests were reported last week subject to FCC approval: ■ WAVY-AM-TV Portsmouth (Norfolk), Va.: Sold by Tidewater Teleradio Inc. (J. Glen Taylor, president) to Gannett Co. Inc. for a net figure of about $4.5 million. Gannett board approved acquisition last week, Paul Miller, Gannett broadcasting chief announced. Sale must be approved by WAVY owners, although this is considered a formality. Gannett owns WHEC-AM-TV Rochester, N.Y., where it publishes Rochester Times-Union and Democrat & Chronicle; WINR-AM-TV Binghamton and WENY Elmira, both New York, and WDAN Danville, 111. It also publishes newspapers in other New York cities, New Jersey, Connecticut and Illinois. WAVY is 5 kw on 1350 kc. WAVY-FM is 26 kw on 96.9 mc. WAVY-TV, established in 1957, is ch. 10 and NBC-TV affiliated. Broker was Blackburn & Co. ■ KTRC Santa Fe, N. M.: Sold by Garfield C. Packard to Carl S. Goodwin for $100,000. Mr. Goodwin was coowner for the past four years of KRIG Odessa, Tex., recently sold. KTRC is 250 w on 1400 kc. Broker was Hamilton-Landis & Assoc. ■ KSLY San Luis Obispo, Calif.: Sold by Rex O. Stevenson to Berry Broadcasters Inc. for $50,000. Berry comprises Reginald D. Streeter, John W. Barba and Sylvain Lassalette. Messrs. Streeter and Barba were formerly employed at KWIP Merced, Calif.; Mr. Lassalette is an automobile dealer. KSLY is on 1400 kc with 250 w. Broker was Blackburn & Co. 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 133). ■ WKST-AM-TV New Castle, Pa.Youngstown, Ohio: Sold by S. W. and Wanda E. Townsend to Communications Industries Inc. for $975,000 for 81.2% interest plus $200,000 to S. W. Townsend for 10 years consultancy and agreement not to compete. Sale includes option to purchase remaining stock for $225,000. Communications Industries is headed by Lazar Emanuel, New York attorney, and includes Blair Walliser and Paul Smallens. It is a majority stockholder in WACE Chicopee, Mass., WEOK Poughkeepsie, N. Y. ■ WGSM Huntington, N. Y.: Remaining stock sold by Byron T. Sammis and others to Edward J. and Gertrude C. Fitzgerald, present 36.76% owners, for $287,885. The Fitzgeralds also own WGBB Freeport, N. Y. FCC Chairman Newton N. Minow did not participate. ■ WPLH Huntington, W. Va.: Sold by The Tierney Co. to George H. Clinton for $125,000. Mr. Clinton has a minority interest in WTMA-AM-FM Charleston, S. C. Record radio billing reported by Storer The "greatest" March radio billing period in the 34-year-old history of Storer Broadcasting Co. is seen as an indicator of the end of the business recession, according to George B. Storer, chairman of the multiple broadcasting company. Mr. Storer made his announcement at the annual Storer stockholders meeting in Miami last Wednesday. He explained the reason for his "cautious" optimism by noting that radio reflects the broadcasting business and the overall economy more quickly than television because an advertiser can prepare a radio schedule, or increase an existing schedule, in a matter of hours. Storer's first quarter showed a decline, mainly attributed to a dip in television sales plus the lack of a tax loss carryover included in the 1960 figures. Announced was the election of George B. Storer Jr. to the presidency of the company; Mr. Storer Sr. retaining the chairmanship. Other new elections were also announced (see Week's Headliners, page 10). Earnings Dip ■ First 1961 quarter earnings of $1,055,418 (42.6 cents per share) compared to $1,423,079 (57.5 cents per share) in the same 1960 quarter were announced at the meeting. Both are net after taxes. The 1961 earnings were based on 2,474,950 shares outstanding; 1960 on 2,474,750 shares. One reason for the decline, it was pointed out, was that the first quarter last year included a loss tax carry-forward at WITI-TV Milwaukee. No such carryover was applicable in 1961. Storer owns WJBK-AM-TV Detroit, WJW-AM-TV Cleveland, WSPD-AMTV Toledo, WITI-TV Milwaukee, WAGA-TV Atlanta, WIBG Philadelphia, WGBS Miami, WWVA Wheeling (W. Va.) and KGBS Los Angeles. It also owns the Miami Beach Sun and a majority interest in Standard Tube Co., Detroit. Media reports... Lower rates ■ WTCN-TV MinneapolisSt. Paul, which went independent yesterday (Sunday) as its ABC-TV affiliation switched to KMSP-TV there, has anounced a new rate card with lower rates effective immediately. WTCN-TV has dropped its Class AA (7:30-10 p.m.) one time one-hour rate from the only serious buyers will learn your identity We do not send out lists. Every sale is handled on an individual basis. You are revealed only to serious, financially responsible buyers. You avoid the risks of selling without our deep knowledge of markets . . . and are further protected by our reputation for reliability! BLACKBURN & Company, Inc. RADIO • TV • NEWSPAPER BROKERS NEGOTIATIONS • FINANCING • APPRAISALS WASHINGTON, D. C. CHICAGO ATLANTA BEVERLY HILLS James W. Blackburn H. W. Com// Clifford 8. Marshall Colin M. Se/p/i Jack. V. Harvey William B. Ryan Stanley Whitaker Calif. Bank Bldg. Joseph M. Silrick 333 N. Michigan Aye. Robert M. Baird 9441 Wilshire Blvd. Washington Building Chicago, Illinois Healey Building Beverly Hills, Calif. Sterling 3-434) Financial 6-6460 JAckson 5-1576 CReslview 4-2770 52 (THE MEDIA) BROADCASTING, April 17, 1961