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By Darrell Morrow Feature Editor A bankruptcy reorganization plan has been approved for Oklahoma City Broadcasting Co., owner of KOCB Channel 34, that is anticipated to pay most creditors in full, plus interest, and the station has already begun work to strengthen its operations.
"We saved a business and 38 jobs. I know it is not 5,000 jobs, not enough to raise taxes over, but it is 38 jobs. The people of Oklahoma still have another entertainment channel and the advertisers still have another place to advertise. I think we did well," said Ted Baze, owner, president and general manager of the station.
Baze announced promotions of the station's key executives to vice presidential status and the hiring of Sammye Ctwo-year bankruptcy reorganization period.
Three vice presidents were named. Greg Miller was promoted to senior vice president and director of engineering. T. Dan Loving was named vice president and director of sales. Glen Parker was named vice president and director of business affairs, Baze said.
Culbert previously worked for the Bill Price for governor campaign and at KWTV Channel 9.
No immediate programming changes are anticipated, Baze said.
Baze said the reorganization plan calls for the station to pay all of its secured debts within 21 months based on anticipated cash flow.