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Angelos.• Union,U ol U PresidentKBLI Director Defends Firmlisgeirt1.1anIIS'?r-di-A director id KBLI, Inc, lias denied allegations made by n stockholder in the company in a lawsuit filed in Fifth District Court here.Robert Hughes, an attorney for a defendant in the lnw.su if, Granite Broadcasting Co, of Salt Lake City, fold Hie Associated Press Wednesday lie lias not seen allegations of Lite lawsuit but they will all be denied.The lawsuit was filed by Earl V. Sauers, Black Toot, and asks return of $12,750 he paid for KBLI slock between 1958 and I860 because the corporation's directors mismanaged corporate funds, the suit says.Sauers' lawsuit claimed there had .been ‘'misrepresentations which induced him to buy his stuck.But Hughes said in Salt Lake City The stock was never sold fraudulently and the company did net make misrepresentations.”KBLI, Inc., the parent company ami operator of KBLI radio station in Blackfoot, put KTLE-TV in Pocatello in operation in July, 1953. The Associated Press said Souers was one of about 1,600 persons who boughf $GGO,OQD worth of preferred stock in a public issue to start KTLE.KTLE went off the air Jan. 21 after Ihe National Braodrasting Co. switched affiliations from KYLE to K1FLTV in Idaho Falls.KBIT, inc. has since filed a Sir •10fl,DDO suit in U.S. District Court in Salt Lake City against NBC, The Radio Corp. of America (RCA), XIFI and another Idaho .Falls station, KID-TV on the grounds loss of the netsvork caused a local monopoly and put KTLE at least temporarily out of business,Hughes so id KTLE had the normal business problems at firstof any new TV operation, but was progressing satisfactorily when il lost NBC. This also lost local ad vertising revenue,'* he said.But he said there are plans U put KTLE back on Ihe air, perhaps by Sept. 15, under new local management pending approval of £hr Federal Communications Commission,Hughes said Alex Gold, now gen eral manager of KSHO-TV in La* Vegas, Nev., would become presi deni anti general manager oi KTLE. KBLi has had an interes1 in KiJHG but Hughes said it is be lag said to a California business-man subject to FCC approval.The records will show Ilia: KBIT, Tnc, investments in KSHO-TV a ad activity lo acquire KCIX-TV in Nampa were proper anc ;business like, Hughes said. KCIN-IV has been off the air since Irslt; year.ce
Newspaper Details
Idaho State Journal
Pocatello, Idaho, US
Thu, Aug 10, 1961
Page 1
Full Page
Clipped by
Sammi B.
NA 09 Mar 2021
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