KORC Goes Dark After Deal Falls Apart
June 4, 2009 at 6:21 AM (PT)
LARRY PROFITT Active Rock KORC/WALDPORT, OR fell silent on MAY 16th after a deal to keep the station on the air collapsed, reports THE SOUTH LINCOLN COUNTY NEWS. "I am very disappointed in this turn of events for a number of reasons," said LARRY PROFITT, who along with his wife MARGIE has owned KORC since 2003. "WALDPORT’s only radio station is now silent at a time when it’s needed most."
Just days before the PROFITTS were scheduled to shut the station down on MARCH 31st, GEORGIA TRIANGLE BROADCASTING signed a letter of intent to purchase the station for an undisclosed sum. GEORGIA TRIANGLE is based in THOMASVILLE, GA, and owned by WOODY NELSON.
On APRIL 1st, NELSON switched KORC’s format from oldies and country music to a blend of hard rock and shock jock shows and in a phone message to the SOUTH LINCOLN COUNTY NEWS referred to himself as the "man who is going to save KORC." GEORGIA TRIANGLE had been operating the station under a time brokerage agreement since APRIL, which expired on MAY 16th when no offer to purchase was forthcoming.
KORC is now listed for sale through WINDERMERE REAL ESTATE for $125,000.
In response to the SOUTH LINCOLN COUNTY NEWS article, NELSON responded to ALL ACCESS, contending that "the sale fell thru under the advisement of IRA LITTMAN as the station lacked processing, had a short tower that did not send the signal into the coverage area as represented and several other technical issues. The Tower site was not owned and could not be leased for a long term which was a concern. The studio was leased and could not be locked in to our satisfaction as well. In essence the selling price was for a 1 KW transmitter, a lot of antiquated equipment and the license. Not what we thought it was and that is why I sent IRA in before rendering any offer further. "