Loan problem in the details for Peoria station

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WTVP in Peoria, Ill., must restructure its capital loan by Jan. 15 or pay its $6.9 million balance, the station said, announcing that it would postpone its December pledge drive, the Peoria Journal Star reported Saturday. To prepare for DTV and move to new quarters in downtown Peoria, WTVP borrowed $10.3 million in 2001, but was found in default after some 2002 pledge figures slipped below the level required by the banks.

Probably unrelated dispatch from Peoria: John Morris, v.p. for development at the station, is a candidate for the Republican nomination for Congress. The former two-term Peoria City Council member has two prominent opponents for the nomination: a state legislator and the head of a big local chamber of commerce/economic development nonprofit. They’re running for the 18th District seat to be vacated by retiring Rep. Ray LaHood (R).

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