Radiant Life Ministries is acquiring the the Cleveland independent from the trust set up to manage four Multicultural Television Broadcasting stations after the group defaulted on loans. The price was not disclosed.
Radiant Life Ministries is buying WOAC Cleveland from the trust of Multicultural Television Broadcasting, according to Kalil & Co., which represented the trust in the deal.
The parties did not disclose a price.
WOAC along with three other MTB TV stations were put in the hands of Multicultural Capital Trust after MTB defaulted on loans. Lee Shubert, of Columbia, Md., is the trustee.
The other three stations: WMFP Boston; WRAY Raleigh-Durham, N.C.; and KCNS San Francisco.
Multicultural Television Broadcasting is a unit of Multicultural Broadcasting, owned and operated by Arthur Liu.
Multicultural Broadcasting also owns a large radio group and two other TV stations, WSAH New York and KHIZ Los Angeles.
Radiant Life is a non-profit religious broadcaster.