Iron County Record | 1957-01-17 | Page 1 | Local Stockholders Assume Ownership of KSUB

Local Stockholders Assume Ownership of KSUB After considerable talk of one and another groun purchasing the KSL holdings in radio station sta-tion KSUB in Cedar City, four local stockholders of the Southern South-ern Utah Broadcasting Company completed a transaction Friday in which they purchased the KSL stock of KSUB. The four men, Durham Morris, W. Arthur Jones, L. C. Miles and Lanell Lunt, were all stockholders In the company com-pany prior to the purchase made this week. KSL had controlled about 80 percent of the stock of the local company, and the purchase made Friday by Morris, Jones, Miles and Lunt, places about 85 per cent of the stock In the hands of these four men, It Is understood, and makes the broadcasting company entirely locally owned. The remaining stock was previously held by lo-cal lo-cal people. Each of the four men involved In the purchase has served on the board of directors of the company com-pany for a number of years. They report that there will be no change In the operation or policy of the radio station, under present plans. Nor will there be any change in personnel at least for the present This change of ownership has no direct bearing on the television televi-sion situation In this area. The transaction is merely a transfer of ownership control of the business busi-ness from KSL to local business men.