Sale of Palm Beach station to WNET falls through
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.
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