Trustee Lee Shubert has found a buyer for another piece of the failed Multicultural Television group. This time it’s WRAY-TV in the Raleigh-Durham DMA. The buyer is the same one Shubert tapped the last time he and Kalil & Co. peddled a former Multicultural station.
Non-commercial Radiant Life Ministries Inc., headed by Garth W. Coonce, is the buyer. It’ll pay $4.5M for the station in cash, with $225K plunked down into an escrow account beforehand to seal the deal. Shubert’s selling them under licensee name MTB Raleigh License LLC.
Radiant previously acquired WOAC-TV Canton OH, serving the Cleveland DMA, also a former Multicultural station run by Shubert as trustee in a deal brokered by Kalil. That one went for $7M. The WOAC deal was filed at the FCC 4/20/09.
Multicultural, after a long (and on-going) career in the multicultural radio business, picked the wrong time to try to expand the concept to television. It acquired its stations from a Scripps, but was soon forced to turn them over to trustee Shubert.
Shubert is still in charge of KCNS-TV San Francisco and WMFP-TV Lawrence MA (Boston). He’s also overseeing WUFX-TV Vicksburg MS and WBMS-CA Jackson MS in an entirely unrelated situation.