With Judge Jesus Bernal denying Ed Stolz most recent attempt to overturn the sale of his stations to VCY America, an LMA has been reached allowing VCY to begin operating them.
VCY America will pay receiver Larry Patrick $5000 plus expenses per month to begin operating the former CHRs “Rev 92.7” KREV Alameda/San Francisco, 97.7 KRCK-FM Mecca/Palm Springs, and “104.3 Now” KFRH North Las Vegas. The LMA will run for 12 months starting on Monday, March 15 giving the deal plenty of time to close.
Judge Bernal dismissed Stolz’ motion to have the receivership ended and return the stations to him last week and that the pending sale to VCY America should be completed. Stolz has taken his arguments that he has successfully satisfied the terms of the ASCAP judgment to the FCC through petitions to deny. The most recent petition is pending although precedent is that the FCC acquiesces to court rulings in these cases.
