KING, Seattle, Buys Control of KREM Here
Spokane Daily Chronicle
King Broadcasting Company announced in Seattle yesterday an agreement under which it is purchasing the controlling interest in KREM television and radio stations in Spokane.
A new corporation, KREM Broadcasting Company, Inc., has been formed to buy all of the physical assets of the KREM stations for $2,000,000, the announcement said.
The transaction, subject to approval of the Federal Communications Commission, was consummated in Spokane Thursday by Mrs. Scott A. Bullitt, president of King Broadcasting Company, and Louis Wasmer, owner of the KREM stations.
Wasmer will be president of the new corporation, Mrs. Bullitt vice president.
The King company owns the KING radio and television stations in Seattle and is the principal stockholder of the Pioneer Broadcasting Corporation which owns KGW radio and television stations in Portland.
Saturday, July 13, 1957