Buyer Steps Up For Bankrupt Va. Beach AMs
October 11, 2007 at 6:00 AM (PT)
A bankruptcy trustee has applied to the court to sell Gospel WVAB-A (PRAISE 1550) and Talk WBVA-A/VIRGINIA BEACH to TERRY "TERRY LOVE" SUGGS' TL COMMUNICATIONS for $275,000, according to VARTV.COM. The move opens the door to a possible auction for bidders who want to pay more for the stations; the hearing and auction are set for OCTOBER 16th, and new potential buyers are being asked to contact broker RAY H. ROSENBLUM at (412) 362-6311.
The stations are being operated by CHESAPEAKE-PORTSMOUTH BROADCASTING CORP., which withdrew its $775,000 offer for the pair, under a temporary LMA.