Ed Stolz Files Petition To Deny Sale Of Stations By Receiver With FCC

Petition

While a warrant still out for his arrest and his motion to dissolve the receivership established to operate and sell three of his stations, ED STOLZ has filed a Petition to Deny the sale by court-appointed receiver LARRY PATRICK of Top 40 KREV-F (92.7 REV THE REVOLUTION)/ALAMEDA-SAN FRANCISCO, Top 40 KRCK/MECCA-PALM SPRINGS, CA, and Top 40 KFRH (104.3 NOW FM)/NORTH LAS VEGAS, NV, to religious broadcaster VCY AMERICA, INC. for $6 million with the FCC.

The petition claims that by virtue of the deposits he made with the court in the case over STOLZ's failure to pay music licensing fees, and because official court approval for the sale has not been finalized, the deal should be rejected by the Commission. He also claims that the price for the stations is too low, basing his own valuation of more than $24 million on declarations from broker ROBERT W. MAHLMAN. STOLZ's claims of fully satisfying the judgement and complying with court orders have been disputed by PATRICK.

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