Alaska Stations Placed In Receivership
August 3, 2010 at 4:26 AM (PT)
SPIRIT OF ALASKA BROADCASTING, the parent of Talk KBYR-A (SMART RADIO 700)/ANCHORAGE and AC KMBQ-A (Q99.7 VALLEY RADIO) and the construction permit for KMBQ-A/WASILLA, AK, has been placed in receivership, reports the ANCHORAGE DAILY NEWS. GLADSTONE CAPITAL CORP., one of the company's lenders, filed to put the stations in receivership in federal court in ANCHORAGE, claiming that owner JOHN KLAPPERICH fell behind on debt payments and payroll taxes, and BOB WOODWARD has been appointed receiver.
KLAPPERICH told the paper that the receivership is "an unbelievable situation ... The truth is, my wife cleaned the potties on SUNDAYs and we did everything we could for the station and the community. I thought the storm was behind me because we were finally showing a $10,000 profit in JUNE and with all the political advertising coming in with the upcoming elections, I thought we'd be okay."