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Catholic Family Radio Seeks Buyer

June 10, 2000|Associated Press

SAN DIEGO — The financially troubled Catholic Family Radio Network is looking for a buyer and could go off the air soon if no one is interested, an investor said.

"The only thing certain is we can't continue to run the network with the revenues not covering the expenses," said Father Joseph Fessio, whose Ignatius Press in San Francisco invested in the network.

Fessio was unsure how many offers, if any, the network had received or how much money it had lost.

The struggling company is using programming from another Catholic network, EWTN, which is owned by Domino's Pizza founder Tom Monaghan.

For the Record
Los Angeles Times Tuesday June 20, 2000 Home Edition Metro Part B Page 3 Metro Desk 1 inches; 30 words Type of Material: Correction; Wire
Network ownership--An Associated Press brief published June 10 incorrectly reported the ownership of EWTN, a Catholic broadcast network. EWTN is a nonprofit charitable corporation with no private stockholders.

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