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July 12, 1944
COWLES BROTHERS NOW ALL SET TO ENTER WASHINGTON, D* C,
Having cleared the formalities of the Internal Revenue Bureau, joint applications were filed with the Federal Communications Commission last Monday for the exchange of ownership of WOL, In Washington, D. C. , and WMT In Cedar Rapids, Iowa, Thus It seems to he only a question of time until the Cowles Brothers through WOL will become a major factor in broadcasting in the National Capital,
Being now In the process of also acquiring WHOM, Jersey City (New York City) and WCOP, Boston, this In a remarkably short space of time really puts them on the front seat of the broadcasting business in the East, It was learned that their present Intention was to acquire no more stations except possibly In Minneapolis, where they are the publishers of the Minneapolis Star Journal and Tribune.
In the Washington, D. C, trade, the American Broadcasting Company would give up ownership and operation of Station WOL, Wash¬ ington, and the station’s ownership and direction would pass to the Iowa Broadcasting Company, Likewise, the Iowa company would give up ownership and operation of Station WMT, Cedar Rapids, and that sta¬ tion would thereafter be owned and directed by the American Broad¬ casting Company,
The contract calling for the exchange is subject to the approval of the Federal Communications Commission, Approval normally is granted about 60 days after applications are filed,
William B. Dolph, Executive Vice President of the American Broadcasting Company, says that when his company takes over WMT, Cedar Rapids, he contemplates no personnel changes. He said William B, Quarton, General Manager of WMT and President of the Cedar Rapids Chamber of Commerce, would continue in his present executive capacity.. The station will continue to maintain supplemental studios inWaterloa
Gardner Cowles, Jr. , President of the Iowa Broadcasting Company, announced that Commander T, A, M, Craven, who recently com¬ pleted a seven-year terra on the Federal Communications Commission and was named a Vice-President of the Iowa company, would become the General Manager of Station WOL, Washington,
“All of us in the American Broadcasting Company are Impress¬ ed with the possibilities for further growth and improvement of WMT", Mr. Dolph said, "Cedar Rapids and Waterloo are Just about the best medium-sized communities in the country with the most consistentlyprosperous trade areas. We expect to give eastern Iowa the finest possible broadcasting service. "
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