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Nbc, Rko General Trades

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Nbc, Rko General Trades of RKO General. NBC, RKO GENERAL TRADES Aside from the appropriate govern- mental approvals, one tag end remains Three -city station sales are announced to be disposed of: sale of RKO Gen- eral's WGMS -AM -FM Washington in Sale of NBC's Washington radio and adephia properties), and then by FCC. order to comply with FCC's duopoly television stations to RKO General for In addition, the contract for the sale of rule. $11.5 million and the exchange of the WRC stations stipulates that it will NBC's Philadelphia properties for RKO not become effective until FCC ap- General's in Boston were officially an- proves NBC's purchase of KTVU. Changing hands nounced Friday. Properties Involved The exchange ANNOUNCED The following sale of The transactions, which must have phase of the NBC -RKO General trans- station interests was announced last government approval, would complete action-said to be tax - free -gives the week, subject to FCC approval. NBC's multi- market parlay ensuing network a ch. 7 television station from the RCA -NBC consent decree re- (WNAC-TV) in return for a ch. 3 prop- WMBD- AM -FM -TV Peoria, Ill.: Sold quiring the network to dispose of its erty (WRCV -TV) plus a 50 kw radio by Charles C. Caley and John E. Fet- Philadelphia outlets. NBC's acquisition station on 680 kc (WNAC) in return for zer (Fetzer stations) to Midwest Tele- of KTVU (TV) Oakland (San Francisco) a 50 kw outlet on 1060 (WRCV). NBC vision Inc. (WCIA [TV] Champaign, for a reported $7.5 million -first step also acquires the fm affiliate of WNAC. Ill.). Price was $1,850,000 for all assets in the parlay -was announced three WRC -TV, bought by RKO General, with $225,000 payment over eight years weeks ago (BROADCASTING, Feb. 29). is on ch. 4 and WRC is a 5 kw outlet to Mr. Caley for agreement not to com- pete and as All three transactions are subject to on 980 kc. WRC -FM goes too. to serve consultant. Midwest is 51% owned August one or more conditions. Purchase of KTVU -whose acquisition by NBC by C. Meyer and wife. Among is KTVU and sale of WRC- AM -FM -TV was protested bitterly by KRON -TV other stockholders WSOY-AM -FM Decatur, Washington must, like all transfers of San Francisco, which would lose the Ill., affiliated with Lindsay -Schaub newspaper group's station ownership, be approved by the NBC affiliation in that area -is on ch. Decatur Herald and Review and FCC before they can become effective. 2. It is being bought by NBC from Wil- prin- cipals The swap of WRCV -AM -TV Philadel- liam D. Pabst, Ward D. Ingram, Edwin of Champaign News- Gazette (WDWS). phia for RKO General's WNAC -AM- W. Pauley, Willet H. Brown and Stod- Other Lindsay-Schaub broad- cast properties are WVLN - AM - FM-TV Boston must be cleared first by dard P. Johnston. FM Olney and WSEI (FM) Effingham, the Justice Dept. (because of the consent The Philadelphia- Boston -Washington both Illinois. WMBD is 5 kw on 1470 decree, which stemmed from NBC's ex- transactions were announced by Robert kc. WMBD -FM operates on 92.5 me change of its Cleveland stations for W. Sarnoff, chairman of NBC, and with 2.5 kw. WMBD -TV is ch. 31. All Westinghouse Broadcasting Co.'s Phil- by Thomas F. O'Neil, who is chairman are affiliated with CBS. No changes in personnel are contemplated, Mr. Meyer announced. WJHL Johnson City, Tenn.: Sold by SOUTHWEST S.'l.iO.0O0 W. Hanes Lancaster Jr. and associates Full time top rated excellent facility to James C. Wilson, Bristol, Tenn., in one of most attractive top 100 mar- businessman and one -time stockholder kets. A real growth area. Earning good in WOPI that city. Price was $230,000, profit. 29% down and 6 year payout. with $67,000 in cash. CBS -affiliated WJHL is on 910 kc with 5 kw daytime and 1 kw at night. Broker was Black- PENNSYLVANIA SIi%000 burn & Co. KHSJ Hemet, Calif.: Sold by Wil- Absentee -owned daytimer in single - station market. Earning small profit. liam B. Miller and Luther Pillow to Ideal for owner -operator. $20,000 Paul S. Sprague and Robert B. and cash will handle. Robert T. Griffin for $85,000. Robert B. Griffin was formerly with KITO San Bernardino, and is currently pro- MID-WEST S12.1. gram and promotion director for 000 KWKW Pasadena, both California. Fulltimer in single-station market. KHSJ is 500 -w daytimer on 1320 kc. $30,000 puts you in. Favorable terms Transaction was handled by Jack L. on balance. Stoll & Assoc. WRKH Rockwood, Tenn.: NEGOTIATIONS FINANCING APPRAISALS Sold by Herman and Ray Spivey to J.A. Galli- more for $67,000. Mr. Gallimore is lackawrnz multiple broadcast owner, with interests f in WSNW Seneca, WBAW Barnwell, Incorporated WNBC Hampton, WSSC Sumter, all RADIO - TV - NEWSPAPER BROKERS South Carolina and WLFA Lafayette, Ga. Daytimer WRKH is 1 kw on 580 WASHINGTON, D. C. MIDWEST ATLANTA WEST COAST James W. Blackburn H. W. Cassill Clifford B. Marshall Colin M. Selph kc. Transaction was handled by Paul Jack V. Harvey William B. Ryan Stanley Whitaker Calif. Bank Bldg. H. Chapman Co. Joseph M. Sitrick 333 N. Michigan Ave. Robert M. Baird 9441 Wilshire Blvd. Washington Building Chicago, Illinois Healey Building Beverly Hills, Calif. STerling 3-4341 Financial 6 -6460 JAckson 5 -1576 CRestview 4 -2770 WHAP Hopewell, Va.: Sold by Charles E. Springer and S.L. Goodman 52 (THE MEDIA) BROADCASTING, March 2L 1960 .
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