Wasmer’s Sale of KREM Gets FCC Approval
Spokane Daily Chronicle
The Federal Communications Commission in Washington, D.C., today authorized Louis Wasmer to sell radio and television stations KREM in Spokane for $2,000,000, the Associated Press reported.
The commission denied a petition by Television Spokane, Inc., once an applicant for television Channel 2, that the proposal be considered at a public hearing.
KREM Broadcasting Corporation, the newly organized purchasing company, is owned 40 per cent by Mrs. Dorothy S. Bullitt and 60 per cent by King Broadcasting Company, of which Mrs. Bullitt is president and majority stockholder, according to papers filed with the FCC. King Broadcasting Company operates KING radio and television stations at Seattle and has an interest in KGW at Portland.
Deal Reported Made
Television Spokane, Inc., of which Burl C. Hagadone of Coeur d’Alene is president, formerly was a subsidiary of the Inland Empire Broadcasting Company, which operated radio station KNEW. The Mount Rainier Radio and Television Broadcasting Corporation purchased Inland Empire Broadcasting May 1, 1957.
Television Spokane, Inc. said in its petition for a public hearing that it withdrew its application to permit Wasmer to get the Channel 2 grant. The petition said the firm had an understanding with Wasmer that it would have “first option” to buy his TV outlet if he should decide to sell, the Associated Press reported.
Thursday, September 26, 1957