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Newspaper Asks Radio Purchase OKThe Lorain Journal has applied to the Federal Communications System for permission to buy the rest of the stock in Radio Station WWIZ.IIt has owned 45 per cent of the common stock and all preferred stock since February, 1959, lour months after the 500-watt station went on the air.The current application is for purchase of 110 shares of common stock for $70,000 from Sanford A. Schaffitz, Farrell, Pa., according to the filed purchase agreement.200 Shares OutstandingThere arc 200 shares of common stock with par value of 520,000 and 200 shares of preferred stock, also with par value ol 520.000.If the FCC approves, WWIZ will be wholly owned by the Lorain newspaper. The Lorain County Printing and Publishing Co.. publishers of The Chronicle-Tele-gram, purchased stock of Radio Station WEOl that had been owned by formfc president Roy Am-meil. Otto B. Schoepfle is president of both WEOL and the publishing firm.The Lorain Journal paid a reported $36,000 for its iraual 90 shares of common stock.That w as $100 a share as compared with $63G a share in the newly-proposed purchase.
Newspaper Details
The Chronicle Telegram
Elyria, Ohio, US
Tue, Jun 20, 1961
Page 5
Full Page
Clipped by
Sammi B.
NA 13 Nov 2019
Other Publications Near Elyria, Ohio
Elyria Reporter
Elyria Evening Telegram
Elyria Chronicle
Elyria Lorain Constitutionalist
Elyria Constitutionalist
