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This comes courtesy of John Tudenham:
Springfield radio
station gets no bids on eBay
Published Friday, July 8, 2005 SPRINGFIELD (AP) - The majority owner of a small radio station in Springfield got no takers when he put his stake up for auction online - and now he might have to find a new staff. Matthew Johnson of Houston put the shares of KTOZ-AM on Internet auction house eBay with a minimum starting bid of $300,000. The auction ended Wednesday with no bids listed online, although Johnson said he received about 35 responses. "When I sell my 67 percent to person A, B or C, then it would allow the new owner to make any changes they see fit," Johnson said. "I would like to find somebody who would make me a reasonable offer for my shares and that would allow the station to continue operating in Springfield." All of this was news to the stationâs general manager, Bill Thomas, who said yesterday he plans to resign. That could turn out the lights for the station, run largely by volunteers. "He told me nothing whatsoever about it," Thomas, a minority shareholder, said. "Unless they get together and appoint new leadership, it will probably shut down." Johnson said the station employees could buy out his shares. But Thomas said the volunteers arenât willing to pour more money into the station, which he said has trouble selling advertising and isnât in good financial health. KTOZ, which its DJs call "The Unforgettable Station," features an eclectic blend of music, ranging from oldies to jazz and blues. |
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