Craig’s local TV station for sale
After owning K27 Television for nearly three years, Jerry Thompson is looking for a buyer. He declined to divulge his asking price.
Thompson, who also owns car dealership Craig Ford, said running both ventures was too time-consuming. When he bought K27 Television in December 2002, he thought he would have enough time to run it and the car dealership, he said.
But in recent months, Thomp–son said it became clear he doesn’t have time to manage Craig’s TV station, which broadcasts local news and sports.
“I’ve got too many irons in the fire,” said Thompson, who bought the station in 2002 from Bill Engler. Engler launched K27 in 1986 as a cable television channel. In 1996, the station began broadcasting over the air.
Engler is handling the sale of the business, Thompson said.
Engler, who now lives in Castle Rock, said there are potential buyers.
“I don’t want to say anything that would make anyone feel ill at ease,” he said.
Thompson said the station’s equipment and license are for sale, but not the office on Ranney Street, which is owned by Craig Ford.
It isn’t clear what the sale of K27 will mean for the station’s staff of Michael Phelps and Dan Olsen.
“It will be up to the new owners to negotiate with the staff,” Engler said.
Phelps said he would wait until the station is sold before deciding whether to leave.
Thompson said he hopes the station’s new owners continue to broadcast local news.
“I would hate to see it get away from the format we established,” Thompson said.
Engler said for the 16 years he ran the station, it was always a successful business.
“It was profitable every month (my wife) and I ran it,” he said.
But Thompson said the station has been hampered by a county decision in 2004 to no longer fund free TV over the airwaves. The county’s decision meant K27 was the only station available with an antenna. Fewer people used antennas for their TV reception.
“Our ability to sell to potential advertisers became more difficult,” Thompson said.
Brandon Johansson can be reached at 824-7031, ext. 213, or email@example.com.
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