KTIB-Am (Thibodaux) reverts ownership back to Gap Broadcasting

[RFLA]

According to a news article in the Thibodaux Daily Comet, Faith Broadcasting which had bought KTIB-Am from George Laughlin for $700k earlier this year, had financial issues and is given till this Friday to be out the building.

For More Info: http://www.dailycomet.com/article/2...aux-radio-station-reverts-to-its-former-owner

 

[smashedcd]

Any word on the format? Will it go dark agian?

 

[RFLA]

George never had it dark longer than neccessary for repairs and such that I was aware of, but since the Gospel was syndicated, my guess is the oldies will be back with the talk shows that the new owner kept in place from when George had it.

Also wondering if he will try to keep it, fold it over to GAP broadcasting with OakTree or put it back on the market to someone who has more capital?

 

[BarryATL]

RFLA, what is happening with KTIB?

 

[RFLA]

Been too busy to listen go figure.. actually been out of town to check real good but tuning currently has them back doing 50s-60s oldies (Chuck Berry/Beach Boys) and my guess is he's still carrying Moon Griffon and the local Dialogue show. As it was still gospel Friday at 4pm when I checked headed toward North Louisiana

 

[gjroussejr]

You Can File This in the See I Told You So folder. Rev Al Carter stated a possible lawsuit I wonder if they are going to use the courts to take KTIB from GAP so they don,t have to pay the money owed. If Gap went back to the old format I might reset a preset button back to 640

 

[RFLA]

No my guess is Gap filing a lawsuit against Faith for the bad faith loan ...In other words, She either showed more than what she had or something to require that much money to be put out that she couldn't cover. Even if there was transmitter issues for instance, she still should have had the funds to cover it IMO

 

[CaptainShowbiz]

Re: KTIB-Am (Thibodaux) Public Auction

They've announced an auction of the assets of KTIB-AM (Thibodaux, LA) securing a loan from GAP Broadcasting, LLC ("Seller") to Faith Broadcasting Corp of Louisiana. The assets will be sold by Seller on November 6, 2009 at 9:00 a.m. (CST) at the offices of Hallett & Perrin, P.C.
2001 Bryan Street, Suite 3900, Dallas, TX 75201. The assets will be sold to the highest bidder for cash only, "AS-IS, WHERE-IS" and without recourse against Seller. Seller reserves the right to refuse any and all bids and withdraw any or all of the assets from sale.
So, KTIB got any good equipment? I'm always looking for a tasty broadcast console. What is the problem with this station--just not enough population to support in around Thibodaux?

 

[RFLA]

No , I just don't think it's found it's niche yet. It was broadcasting Rush And Hannity among other Conservative talkers when Gap had it and I figured that would be a great niche (But it was removed basically before it got a foot hold, espcailly since the new Rush Radio has issues on the Bayou sometimes), either that or a classic country format. Basically other formats are taken currently in the area that work great on AM such as the cajun music.

Basically she got a turn key station, as George from what I understand put some big bucks in the station before selling it. If he would gut it out, he would be hurting his resale value of the station, which I don't think he will do. I would love to see the list of stuff, but my guess is just the stuff Faith brought into the deal, what George put in the station before he sold it to her; I expect for him to keep. Especially since the paperwork was filed 2 weeks ago for the station to legally go back to him. Cause I figure he could get more holding on to it on the open market than what some people are going to want to give for it at auction (Also key word of personal property Assets would be my guess)

Just hoping it isn't another religious group... Am stations in other places still have way more variety than we do here with either sports,religion, or talk (with only two playing any kind of music outside of the oldies currently on KTIB)

 

[RFLA]

I've been mulling over this one, and I'm surprised that Sunburst media hasn't tried to buy this station. It owns 3 FMs and a AM cluster on the bayou , and this station could become their news station, or when they move the 107.5 frequency to New Orleans, They plan on moving 96.7 to Gray (My guess is to put country on) leaving a hole for the oldies that this Amer could fill IMO