Sale of Palm Beach station to WNET falls through

Originally published in Current, May 27, 2008

With no FCC approval two years after filing, the owner and would-be buyer of WXEL-FM/TV in Florida’s Palm Beach area have given up their 2005 sale agreement, the Palm Beach Post reported today.

Richard Zaretsky, president of a local nonprofit created to become WNET’s partner in the purchase, told the Palm Beach Post the group has been raising money and can buy the station on its own from licensee Barry University. Former suitor Miami’s WPBT said it’s still interested in some arrangement with WXEL, the Post reported.

Zaretsky said the FCC held up the license transfer because it prefers local ownership of TV stations.

Web page posted June 2, 2008
Copyright 2008 by Current LLC

EARLIER ARTICLES

After a CPB-led push for cost-efficient collaborations between nearby stations, WNET and sister station WLIW created the only outright merger, 2001.

WXEL-FM is one of several public stations that have formed news partnerships with local newspapers, 2004.

Bidders prospect for licenses on Gold Coast, 2004. Barry University had taken control of WXEL in 1997.

The state government okays the sale of WXEL, 2006.

LINKS

Barry University withdrew its pact to sell WXEL station to the New York licensee, the Palm Beach Post reports.

A Palm Beach Post editorial slams Barry University for "machinations" to sell WXEL without public scrutiny, June 1, 2008. Among preferable buyers, the Post mentions Miami's WPBT.