Battle Over Silent Louisiana AM Continues, Offer Made
July 11, 2006 at 6:22 AM (PT)
The battle over silent KTIB-A/THIBODAUX, LA continues with an offer from an as-yet-undisclosed party to buy the station from the company's warring investors for $550,000. The DAILY COMET reports that partner VINCENT BRUNO says he heard about the offer in a bankruptcy court hearing but does not know the identity of the party making the offer.
MICHAEL STARR of KTIB parent LA-TERR BROADCASTING CORP. put the station in Chapter 7 bankruptcy after BRUNO and partner JOHN TREEN put the station in Chapter 11 reorganization. BRUNO and TREEN allege that STARR had no authority to file Chapter 11, and BRUNO is appealing the bankruptcy move and declined to put up a $200,000. bond under a court offer to put the proceedings on hold, saying that it's unnecessary because "it's our station."