Not So Fast: Receiver Appointed For Recently-Sold Florida AM
March 19, 2012 at 4:22 AM (PT)
GB ENTERPRISES COMMUNICATIONS CORP., former licensee of Regional Mexican WHNR-A (LA PODEROSA)/CYPRESS GARDENS, FL, has been placed into involuntary receivership after debtor EDWARD OLIVARES won a judgment of $48,020.85 against GB ENTERPRISES principal MARTIN SANTOS, and REED has filed to take the station over as receiver. GEORGE R. REED of MEDIA SERVICES GROUP has been appointed receiver for the station by Judge J. MICHAEL MCCARTHY of POLK COUNTY Circuit Court after the POLK COUNTY Sheriff's Office reported that SANTOS has "thwarted the Judgment Creditor's efforts to have the (sheriff) seize" the stock in the licensee. SANTOS sold the station to FLORIDA SPANISH COMMUNICATIONS CORP. for $1,000, leading to the judge, agreeing with the creditor that SANTOS failed to provide notice of the sale to the court, granting emergency relief and an expedited hearing for the involuntary receivership.
In another filing with the FCC, BROADCAST ENTERPRISES, INC. is applying for a Silent STA for KIXK/WHEATLAND, MO because of financial difficulties. President RANDY WACHTER wrote on the application that "the poor economy continues to adversely affect the ability of the station to operate with the necessary staff resources. While the Federal Reserve makes billions of dollars available to wall street banks, none of that money trickles down as loans to mom and pop broadcasters operating on main street. The inability of stations such as KIXK to continue to stay on the air bears witness to the absence of any meaningful economic plan on the part of our country's leadership."
Trustee SCOTT SAVAGE has closed on the sale of 10 of the 12 former LUNA COMMUNICATIONS/MOON BROADCASTING stations to CASA MEDIA PARTNERS, LLC for $3.5 million.
And the announced sale of former PBS affiliate WMFE-TV/ORLANDO to religious broadcaster DAYSTAR has been called off, according to the ORLANDO SENTINEL's HAL BOEDEKER. WMFE remains in the hunt for a buyer to allow it to get out of the TV business and concentrate on its noncommercial News-Talk WMFE-F/ORLANDO, but station President/CEO JOSE FAJARDO told BOEDEKER that "it became clear to WMFE that the current deal we had in place was being drawn out longer than we anticipated. The market conditions have changed in a favorable way to be able to pursue other options for WMFE.... Our options are to continue to seek a strong buyer and focus on public radio."