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$20 Million in TV Sales Approved

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$20 Million in TV Sales Approved &Media $20 million in TV sales approved KFDIVI -TV, KOAT -TV, WDCA -TV, WIBF -TV green light; KUAB(TV) sale announced Sales of four television outlets aggregat- missioner Kenneth A. Cox abstaining. Broadcasting Inc. to Houston Broad- ing about $20 million were approved by A Washington independent, WDCA-TV casting Co. for $61,728.46 pending the FCC last week and United Artists (ch. 20), was sold by Capital Broad- FCC approval. Corp. filed an application to sell the casting Co. to the Superior Tube Co. United Artists Broadcasting is a construction permit of its KUAB(TV) for $1.5 million for stock and deben- wholly owned subsidiary of United Houston to facilitate the still pending tures and $700,000 for an agreement Artists Corp. which in turn is owned merger of its parent, Transamerica not to compete. The buyers must also by Transamerica Corp. Under terms of Corp. with Metromedia. assume $2,664,527 in liabilities, jacking the merger agreement between Trans- Approved were the sales of KFDM -Tv the total price up to about $4.9 million. america and Metromedia, if Metro- Beaumont, Tex.; KOAT -Tv Albuquerque, Superior Tube Co., Wynnewood, Pa., media sought to acquire a UHF TV N. M.; WDCA -TV Washington, and WIBF- manufactures speciality metal tubing. C. station in a market larger than Houston, TV Philadelphia. A. Warden Jr. is chairman and chief Transamerica would dispose of KUAB's KFDM -TV (ch. 6) was sold by D. F. executive officer and Paul E. Kelly is CP to keep the combined number of Cannan Sr. and family and C. B. president. TV stations owned by Metromedia and (Blakey) Locke and others to the A. WDCA -TV was built in 1966 by Wash- Transamerica within the FCC's seven - H. Belo Corp. for $5.5 million. Mr. ington broadcast personality Milton station limit. Metromedia two months Cannan and family own KFDX -TV Grant and associates. Mr. Grant, presi- ago filed an application to buy WFLD- Wichita Falls, Tex., and the buying dent and general manager, will remain TV (ch. 32) Chicago. group, headed by Joe M. Dealey, owns in charge of the station. The KUAB sale is contingent on FCC the Dallas Morning News as well as approval of both the WFLD -Tv purchase Superior Tube said it plans improve- WFAA- AM -FM -TV Dallas. and the Metromedia- Transamerica mer- In December 1967 Beaumont Broad- ment of facilities and new program ger. acquisitions. casting Corp., licensee of KFDM -TV, Houston Broadcasting is owned in sought to sell the CBS -TV affiliate to the In granting the transfer of control, equal amounts by Glendon E. Johnson, publisher of the Beaumont Enterprise the FCC noted that the licensee, Chan- Orsen C. Clay, Robert K. Franklin and Journal (the only daily newspapers nel 20 Inc., had lost substantial sums in and Franklin D. Johnson. G. E. John- in the city), but the deal fell through operating WDCA -TV, and that, since no son is president of Great Southern Life when the Justice Department's antitrust more funds were reasonably available, Insurance Co.; Mr. Franklin is presi- division contended the proposed sale the three -year holding rule could be dent of RFK Industries Inc., a Houston would violate the Clayton Act, prohibit- waived. Superior Tube told the commis- firm. Mr. Clay is executive assistant for ing acquisitions that tend to lessen corn- sion it was willing to take substantial Pennzoil United Inc., Houston, and F. petition, or create a monopoly (BRoAD- financial risks to make WDCA -TV profit- D. Johnson is partner in a law firm. CASTING, Aug. 12, 1968). able in the long run, but realizes this The KIJAB construction permit is for The FCC approved the KFDM -TV sale may take a long time. Commissioner 255 kw visual and an antenna height of to the Dallas interests by a 5 -to -2 vote, Bartley abstained from voting. 501 feet above average terrain. Commissioners Robert T. Bartley and WDCA -TV has 1,120 kw visual and an Nichols Johnson dissenting. The station antenna height of 770 feet above av- went on the air in April 1955 and has erage terrain. Race -track group buying 100 kw visual and an antenna height of WIBF -TV (ch. 29) is being sold by 960 feet above average terrain. WIBF Broadcasting Corp., owned by two D.C. radio stations The Steinman station group sold William L. Fox and family, to group Four brothers are selling two of their KOAT -TV Albuquerque, N. M., to the owner. Taft Broadcasting Co. for $4.5 radio a Pulitzer Publishing Co. which paid $5 million which includes assumption of stations to publicly held race million for the channels 7 ABC -TV $2.8 million in long -term obligations track owner in a stock exchange ag- affiliate. and short -term debt of $300,000. gregating about $1.2 million. Pulitzer, which publishes the St. WIBF Broadcasting is also the licensee Wusr. and WJMD(FM) Bethesda, Louis Post-Dispatch, also owns KSD -AM- of WIBF-FM Jenkintown, Pa., which is Md.- Washington have been sold by TV St. Louis and KVOA -TV Tucson, Ariz. being retained by the Fox family. Daniel, Walter, Milton and Jack Diener Pulitzer purchased KVOA -TV from Stein- WIBF -TV, an independent established to San Juan Racing Association Inc. man last July for $3 million. The Stein- in May 1965, has 1,060 kw visual and subject to the usual FCC approval. man group bought KVOA -Tv and KOAT- an antenna height of 1,110 feet above Messrs. Diener will retain WFPG -AM -FM TV in January 1963 for a combined average terrain. Atlantic City. price of $3,250,000. The vote was 3 -to -2 with Commis- Milton and Walter Diener operate KOAT -TV, established in September sioners Johnson and Bartley dissenting Diener's Inc., a carpet company, and 1953, has 73.5 kw visual and an an- and Commissioners Cox and H. Rex Jack Diener is a dentist. tenna height of 4,240 feet above average Lee abstaining. San Juan Racing Association, which terrain. The vote was 5 -to -1 with Com- The construction permit for KUAB is listed on the American Stock Ex- missioner Johnson dissenting and Corn- (ch. 20) is being sold by United Artists change, will swap 35,000 of its shares 48 BROADCASTING, May 12, 1969 .
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