South Florida's WXEL-TV/Channel 42 may be purchased by its current management for $700,000, the Palm Beach Post is reporting today (April 1). That's "a bargain price any way you look at it," said station President Bernie Henneberg. He said he'd need $1.5 million for both the sale and initial station operating costs. About 15 of 30 invitees showed up at a potential backers' meeting Thursday.
The station went up for bids more than six years ago (Current, Nov. 29, 2004). Current owner Barry University agreed last year to sell WXEL-FM to American Public Media's Classical South Florida in Broward County for around $4 million.
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