Dave and Linda Miller’s Yaquina Bay Communications’ five stations along the Oregon Coast will cease operations following a foreclosure sale of their studio building and two tower properties.
Yacquina Bay Communications owns News/Talk 1310 KNPT Newport/98.3 K252EQ Depoe Bay and Standards 820 KWDP Waldport OR. The related Pacific West Broadcasting owns Country “U92” 92.7 KNCU Newport, Talk/Standards 1400 KBCH Lincoln City and Classic Rock 96.7 KCRF-FM Lincoln City. All of the stations operate from the studio and office facility in Newport OR. A sixth station owned by the company, 102.7 KYTE Independence OR, lost its license in January after not operating from its licensed facilities for over three years.
YachatsNews.com reports that eight employees were let go as part of the shutdown that follows Oregon Coast Bank bidding $570,005 for the company’s real estate assets of a studio building and two tower sites in a foreclosure auction earlier this month. The bank had gone to court to request a foreclosure after the Millers defaulted on $532,000 in loan payments. The Oregon Department of Revenue and Oregon Employment Department also held liens on the properties as they owe $43,000 in back taxes.
This story first appeared on radioinsight.com