Local Businessman Says He's In Talks To Buy, Save WEEU/Reading

Possible Buyer?

A READING, PA businessman says that he is in talks to buy and rescue News-Talk WEEU-A/READING from being shut down when MEDIANEWS GROUP closes on the purchase of the radio station's parent newspaper business, the READING EAGLE COMPANY.

HAMID CHAUDHRY, owner of the WYOMISSING RESTAURANT AND BAKERY and the SHILLINGTON FARMERS' MARKET, told independent WFMZ-TV/ALLENTOWN that he "can't imagine BERKS COUNTY without WEEU. It has a strong base. It just needs somebody with a little bit of a vision who can change things.... why not? Just like I revived this restaurant, SHILLINGTON FARMERS' MARKET, LUKOIL, DAIRY QUEEN. Hey, I would love to do that."

MEDIANEWS is paying $5 million to buy the EAGLE out of Chapter 11 bankruptcy but said it will shut WEEU down upon closing the deal, no later than JULY 31st, and will look for a buyer for the license. A buyer will be given up to 5 years' use of the current towers, antenna, and transmitter unless MEDIANEWS sells those assets earlier.

« see more Net News