Paperwork Filed With FCC For Transfer Of Ownership Of WCAP To Sam Poulten
Fri Aug 12 18:00:03 EDT 2011
The Lowell Sun reports that paperwork has been filed with the FCC this week for the transfer of ownership of WCAP entirely to Sam Poulten. Poulten will be buying out co-owner Clark Smidt's share of ownership according to a purchase & sale agreement signed by both parties on June 28th, with Poulten paying Smidt over $170,000, plus depositing $40,000 into the station's operating account at a local bank. As a result of this agreement, both Smidt & Poulten will be withdrawing lawsuits each filed against the other. Smidt recently vacated his office at WCAP's Lowell studios. FCC approval expected in early October.
Link to Sun article:
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