KREM Radio, TV in Station Deal
A new corporation has been formed to buy the physical assets of three broadcasting stations, KREM, KREM-FM and KREM-TV, it was announced Friday by Louis Wasmer, present owner and licensee.
KREM Broadcasting Co., Inc. will buy the individual properties from Wasmer, who will become president of the new corporation.
A principal stockholder will be King Broadcasting Company of Seattle, headed by Mrs. Dorothy S. Bullitt.
According to previously published reports, total vale of the properties is in excess of $844,839. Wasmer would say only the figure was “grossly wrong,” intimating the figure is probably low.
Immediate request will be made to the Federal Communications Commission for transfer of licenses to the new corporation.
King Broadcasting, in addition to operating AM, FM and television stations, also is a principal stockholder in the Pioneer Broadcasting Corporation which owns and operates Radio KGW and KGW-TV in Portland.
The stations are all affiliated with American Broadcasting Company.
Sunday, July 14, 1957