Broadcasting Telecasting (Jul-Sep 1962)

Goodwill revenues up for first half-year Broadcasters Assn. meeting in Pocatello, Gov. Collins said radio's importance to national life is at an all-time high. "At a time when the U. S. is growing fantastically and bigness tends to breed conformity, radio is keeping pace in its growth but retaining its local identity and distinctiveness," he said. His talk was carried over a statewide radio network. Radio, he said, is the first place most Americans learn of major news happenings. "Radio is the one and only nationwide instantaneous means of communication upon which the government relies to get vital messages to the entire population in event of military or civil disaster." Metro changes headquarters Metro Broadcast Sales has moved its headquarters in New York to 3 E. 54th St. Telephone: Plaza 2-8228. The organization was formerly at 33 W. 48th St. Metro represents all Metropolitan Broadcasting stations. Metropolitan stations are WNEW-AM-FM-TV New York; WTTG (TV) Washington, D. C; KMBC AM FM TV Kansas City: KOVR (TV) Stockton, Calif.: WTVH (TV) Peoria, and WTVP (TV) Decatur, both Illinois: WIP Philadelphia: and WHK Cleveland. Metro also represents WCBM Baltimore. The Goodwill Stations Ire. reports revenues for the first six months of 1962 totaled $3,863,306 compared with $2,576,843 for the same period in 1961. Net income for the 1962 period amounted to $342,900 (51 cents per share) compared with $154,562 (23 cents per share) for the 1961 period. The cash flow of all three Goodwill divisions (WJR Detroit, WJRT [TV] Plough sales, earnings set first half record Plough Inc., a broadcast group owner, reported sales, earnings and earnings per share at a record high for the first six months of 1962. Sales were up 8% to $27.1 million, compared to $25.1 million for the same period of last year. Net earnings after taxes were $1.92 million up from $1.7 million. The increase in sales and earnings resulted in a per share earning of $1.43 (an increase of 13%) compared to last year's $1.27 per share. Plough on June 30 had 1,345,092 shares outstanding. This was before its two-forone stock split efi'ective July 2. The board of directors is scheduled to meet Flint, both Michigan, and WSAZ-AMTV Huntington-Charleston, W. Va.) amounted to $785,389 ($1.17 per share) in the first six months of this year, compared to $243,564 (36 cents per share) for the 1961 period. Goodwill acquired the WSAZ stations on May 1. As of June 30, 1962, there were 671,415 Goodwill shares outstanding. on Aug. 30. Plough Inc. is licensee of WMPSAM-FM Memphis, WJJD-AM-FM Chicago. WCOP-AM-FM Boston, WCAOAM-FM Baltimore and WPLO-AMFM Atlanta. Changing hands ANNOUNCED ■ The following sales of station interests were reported last week subject to FCC approval: ■ KXOA and KCNW (FM) Sacramento, Calif.: Sold by group headed by Riley Gibson to Norwood Patterson for $750,000. Mr. Patterson, with his family, owns KSAN San Francisco. He also owns KBIF Fresno and KICU-TV Visalia, both California. KXOA operates with 5 kw day and 1 kw night on 1470 kc. KCNW is on 107.9 mc with 12.5 kw. Sale was negotiated by Edwin Tornberg & Co. ■ WHAY New Britain, Conn.: Sold by Aldo DeDominicis and associates to Connecticut-New York Broadcasters Inc. for $310,000. Connecticut-New York owns WICC-AM-TV and WJZZ (FM) Bridgeport, Conn. Kenneth M. Cooper is president and 49.41% owner of Connecticut-New York; John Hill owns 23% and Mr. DeDominicis will become a 10% owner. WHAY operates fulltime on 910 kc with 5 kw. ■ WDEB Pensacola, Fla.: Sold by Rose Hood Johnston, executrix of the estate of the late George Johnston Jr. to Mel Wheeler for $125,000. Mr. Wheeler is the former part owner of WEAR-AMTV Pensacola. of WJHP-TV and WSCM Panama City, and of WRKT Cocoa Beach, all Florida. WDEB is a daytimer on 610 kc with 500 w. Broker was Blackburn & Co. ■ KTIL Tillamook, Ore.: Sold by Fred and Geraldine Guyton to Robert Douglas and Philip Tonken, New York freelance radio and tv personalities for $80,000. KTIL operates fulltime on 1590 with 1 kw. Sale was handled by Edwin Tornberg & Co. APPROVED ■ The following transfers of stations interests were among those We never broadcast your identity You are revealed only to serious, financially responsible buyers of broadcast properties. We do not send out lists. Every sale is handled on an individual basis. Most important, too, you benefit from Blackburn's sound knowledge of markets, of actual sales, and of chanefinfi values. BLACKBURN & Company, Inc. RADIO • TV • NEWSPAPER BROKERS NEGOTIATIONS • FINANCING • APPRAISALS WASH., D. C, James W. Blackburn Jack V. Harvey Joseph M. Sitrick Gerard F. Hurley RCA Building FEderal 3-9270 MIDWEST H. W. Cassill William B. Ryan Hub Jackson 333 N. Michigan Ave. Chicago, Illinois Financial 6-6460 ATLANTA Clifford B. Marshall Stanley Whitaker Robert M. Baird John C. Williams 1102 Healey BIdg. JAckson 5-1576 BEVERLY HILLS Bennett Larson Colin M. Selph Calif. Bank BIdg. 9441 Wilshire Blvd. Beverly Hills, Calif. CRestvicw 4-2770 52 (THE MEDIA) BROADCASTING, July 23, 1962