Sterling radio station foreclosed, sold | SummitDaily.com

Sterling radio station foreclosed, sold

THE ASSOCIATED PRESS

STERLING – A Sterling radio station is in the hands of its previous owners after it was foreclosed.KSTC-AM was bought at a public auction Monday by Arnold Broadcasting., who had sold the company to Track 1 Media of Sterling and Direct Capital Corp. in 2004. Arnold Broadcasting sued and obtained a foreclosure order from the now-former owners.The winning bid for the station was $2,770,462.The station’s new owner said he would not change the current format and that radio play will not be interrupted.The previous owners have to pay all debts in 75 days if they want to retain ownership of the station.