The quixotic saga involving embattled radio station licensee Ed Stolz has taken a new turn, as the Ninth Circuit Federal Appeals Court has affirmed a District Court’s decision to deny the termination of a receivership that stripped Stolz of his radio stations, placed them in a trust overseen by respected media broker Lary Patrick, and saw the stations sold in a single deal to non-secular broadcast ministry VCY America.
“This is a big loss for Stolz,” Patrick said. But, is it more symbolic than a determinative action that will allow VCY America to move forward with the purchase — an action thwarted by a Nevada Federal Bankruptcy Court?
