Jul 24, 2012

Station executives finalize WXEL-TV sale

It's finally official: WXEL Public Broadcasting Corp., a nonprofit set up by the TV station’s executives, paid nearly $1.5 million Friday (July 20) to Barry University for WXEL-TV in West Palm Beach, Fla., reports the Palm Beach Post.

The local group, headed by station President Don Sussman, CEO Bernie Henneberg and Development Vice President Debra Tornaben, received a loan from the nonprofit Foundation of Philanthropic Funds, due in five years.

The sale was finalized on the station's 30-year anniversary.

The deal has been a long time coming.  The dual-licensee went up for sale eight years ago (Current, Nov. 29, 2004). The station was nearly sold to New York City's WNET five years ago (Current, March 6, 2006) and, more recently, another local community group and school district.

WXEL-FM was sold to Classical South Florida last year for $3.85 million.

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