D&H Broadcasting has announced the sale of its two Lake Tahoe stations, NewsTalk 1490 (KOWL-AM) and 93.9 The Lake (KRLT). The company filed for Chapter 11 bankruptcy at the end of 2023, citing severe financial setbacks caused by the COVID-19 pandemic.
There appeared to have been several previous sale attempts that fell through, as hinted at by Harness in comments to South Tahoe Now in late 2023. This possibility was bolstered when KRLT morning host Howie Nave indicated on social media in mid-April that his morning show would continue under new ownership. However, sale documents confirm that KOWL and KRLT are being sold to Rothschild Broadcasting LLC, pending FCC approval.
Rothschild, led by Robin Rothschild, agreed to purchase the stations for $275,000, with a $10,000 deposit placed in a trust account with Harris Law Practice LLC. No broker or finder was involved in the transaction.
Steve Harness, the owner, General Manager, and afternoon host at KRLT, purchased the stations in 2015 for $650,000 alongside co-owners Jay Harness and Stacy Driskill. Despite the group’s efforts to maintain the stations’ operations, including launching a GoFundMe campaign to raise $100,000, the fundraising initiative only managed to collect $7,500.
The bankruptcy documents list the company’s assets valued between $100,001 and $500,000, while liabilities are significantly higher, ranging from $500,001 to $1 million. This includes substantial debts owed to creditors such as Jerry Evans Broadcasting, which is listed as the largest unsecured creditor with $298,000 in claims, and the US Small Business Administration, owed $198,000.
