Church, College Revamp KCBI Ownership
July 30, 2009 at 4:58 AM (PT)
CRISWELL COMMUNICATIONS Contemporary Christian KCBI/DALLAS will be transferred by CRISWELL COLLEGE to a new ownership entity as part of the FIRST BAPTIST CHURCH OF DALLAS' move to end its ownership of the college.
BAPTIST PRESS reports that the church voted JULY 8th to end its ownership of the college and form a new ownership entity for the station 50% owned by the church and 50% by the school. The church will be the operator and manager of the company, with CRISWELL COLLEGE as a non-voting member. Each party will also have options to buy out the other. The change in the college's ownership is scheduled for JANUARY 1st.