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Lights out at Martinsburg, W. Va., TV stationMARTINSBURG, W.Va (AP) -The lights are out inside the WYVN-TV studios after creditors took over the building and transmitter and evicted the station’s management and staff.The creditors and bankruptcy trustees now want a bankruptcy judge to retrieve the station’s Federal Communications Commission license from a company, officials saidFM Bank of Martinsburg ordered the station management and staff from the building after it bought the studios and transmitter for $42,000 at public auction last Friday, bank vice president Greg Gamble said“At 4 pm. (Friday), we had awalk-through and changed the locks The station went off the air at 6; 10 p m /' Mr. Gamble said Court-appointed trustee. David Savasten, a Berkeley Springs lawyer, told U S. Bankruptcy Judge L Edward Friend III last week that he inadvertently had sold the broadcast license to Green River Broadcasting Inc. of Martinsburg “We could not sell the station(without the license),” said MrGamble. “However, if the license issue is resolved, it would be m the best interests of the bank and the trustee n WYVN has been under the control of a bankruptcy court since former owner Flying A CommunicationsInc filed last year for protection from creditors under Chapter 11 of the federal bankruptcy codeFlying A owed FM Bank §650,000 and Dana Commercial Credit Corp $1 5 million on mortgages, according to court recordsFM and Dana forced the station off the air Sept. 1? when they forced the company into Chapter 7 receivership for liquidation. But Judge Friend allowed Green River Broadcasting to put the station back on the air a week later while it worked out a financing planNo plan could be put together, and the bank and credit company shut the station again Friday
Newspaper Details
News
Frederick, Maryland, US
Wed, Apr 06, 1994
Page 82
Full Page
Clipped by
Sammi B.
NA 17 Jun 2020
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