Financial Briefs

Park Communications Inc. of Ithaca, N.Y., has bought TV station KALB, an NBC affiliate in Alexandria, La., for an undisclosed price. Sellers were the estate of T.B. Lanford of Shreveport, La.; Bill Fox of San Diego; and Sylvan Fox of Alexandria.

If sale is OK’d by FCC, Park Communications will own and operate nine TV stations.

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E.W. Scripps Co. is selling the last of its radio stations, Portland, Ore., country-format KUPL, for $ 23 million to BayCom L.P. of San Francisco. Scripps still owns nine TV stations, 20 newspapers and cable systems with 679,000 subscribers.

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Under a new agency proposal, broadcasters awarded a station license through the FCC’s comparative hearing process would be required to hold the station for at least three years. The three-year-hold rule was reduced to only one year in 1982 amid sweeping deregulation. Relaxing the reg prompted criticism from public interest groups, who claimed the policy encouraged “quick-buck artists” to “flip” broadcast properties for hefty profits.

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