Gap Takes Back Control Of KTIB
October 8, 2009 at 4:18 AM (PT)
GAP BROADCASTING, LLC has taken back control of Gospel KTIB-A/THIBODAUX, LA after buyer/LMA operator FAITH BROADCASTING CORP OF LOUISIANA apparently defaulted on its payments. The DAILY COMET reports that GAP informed FAITH's staff at the station that the station was reverting to GAP operation and that the FAITH staff had to be out of the building by 5p.
GAP sold KTIB, then in a Talk-Oldies format, to FAITH in MARCH for $700,000 plus an LMA before closing.