New Group Seeks Channel 51, Will Aim for Young Audience

New Group Seeks Channel 51 Will Aim for Young AudienceV o IF HIE Federal Communications Commission gives its approval — and there is no reason to believe it won’t — Fort I auderdale’s UHF Chan-net 5! will be re-activated this fall The channel was operated as WSMS-TV from Novem-her 1968 to February 1970 when its then licensee Gold Coast Television Corp ran into financial difficulties and suspended operations Now a new group Channel 51 Inc owned by Recreation Corp of America Inc which operates Dania’s Tirates Racetrack Securities IRS Probing Slock By Ex-Governor of CHICAGO — (AP) — Four Chicago newspapers say the Internal Revenue Service is looking into the way Federal Judge Otto Kerner reported upwards of $125000 in profit from a racetrack stock transaction while he was governor of Illinois The newspapers quoting unidentified federal authorities also said that a federal grand jury is reviewing the transaction in its investigation of gains that Illinois political figures made on racetrack investments THE NEWSPAPERS said that in 1966 Kerner bought 25 shares of racetrack stock at $1000 a share and sold his holdings 10 months later for $6000 a share Tcstcd lit Europe New Drug Cuts t By JACK E aNdersov Harold tedto — a TV ! World and Film World Studios has asked the FCC to transfer the license BILL JOHNS a radio and Judge Otto Kerner no comment Kerner now a judge on the 7th US Circuit Court of Appeals declined to comment on the reports by The Chica- TV brondcasting veteran Is president of the group C T Robertson president of Recreation Corp is vice-president Paris Singer an attorney is secretary-treasurer Singer was president for the old licensee company and has a minority interest in this one Johns who stopped by to see me the other day reports that the new station will lave the call letters WKID which reflects the youth-or-iented kind of programming the station will go into THE STATION’S studio Deal Illinois go Sun-Times The Chicago Tribune Chicago Today and The Chicago Daily News The papers said Kerner reported his profits from the sale of the stock but claimed they were capital gains eligible to be taxed at a lower rate than the one applied to regular income Half of a capital gain — the difference between the market value of a stock when bought and the market value when sold — - is not taxed if the stock was held six months THE IRS contends that Kerner was not eligible for the capital gains rate on all of the profit from the stock sale because he bought the shares at less than their market value the reports said Kerner’s holdings were In Chicago Thoroughbred Enterprises Inc which owns and operates Arlington Park and Washington Park racetracks near Chicago the newspapers said Kerner a Democrat was will be located at Tirates World In the TV and film production sound stage where Film World Studios produces syndicated film shows most of them for children’s viewing The new company will make a major Improvement in Channel 51’s technical facilities — elevating its transmitter tower from a present height of 549 feet to 1049 “We think this is going to give the station a lot more range than it had and whlrh was one of the old operation’s chief handicaps” Said Johns When will the station get on the air? “We hope hy early fall — possibly mid Qc-tober” he said “We may just may get FCC approval of the license transfer bylthe end of September” -I O THE STATION plans- a seven-day broadcast schedule of from 3 to about 11:30 pm Program details will be released later but they are in the main intended to attract small and teenage viewers But there are community service sports and musical programs for viewers of all ages too The station’s broadcast day will end with double movie features aired from 7 and to 11:30 the same pair of movies repeated for seven nights in a row THE FEATURES produced by United Artists include such titles and stars as "Alexander the Great” with Richard Burton “Barefoot Contessa” with Ava Gardner and Humphrey Bogart and “Moby Dick” with Gregory Peck and Orson Wells - Johns said the station has no present plans for resuming the extended stock market reports and business news reports and analysis which were the chief stock in trade of the old Channel 51 operation M

The Miami Herald

New Group Seeks Channel 51, Will Aim for Young Audience

New Group Seeks Channel 51, Will Aim for Young Audience

The Miami Herald