Station switches back to GAP Broadcasting format

After less than six months of new ownership, Thibodaux’s lone radio station, KTIB-AM, was returned to its previous owner last week.

KTIB employees found out on Oct. 2 that the Virginia-based Faith Broadcasting Corp. would no longer run the station.

On March 31, Faith Broadcasting bought KTIB from Dallas-based GAP Broadcasting for $700,000.

According to various radio industry publications, Faith Broadcasting president Katrina Chase paid a $70,000 deposit. GAP financed the note and gave Faith Broadcasting five years to pay off the debt.

The news/talk station was converted to an all-gospel station. KTIB was one of several radio stations Chase purchased around the country last spring.

Published reports said Chase got into financial straits with KTIB and her other stations. Payrolls were missed, expenses outpaced advertising revenues and staff members paid money out of their own pocket to keep the station afloat, according to reports.

New KTIB station manager Linda Bourgeois said the format was switched back to news, sports, talk and oldies over the weekend.

She had no further comment pending a formal announcement by GAP Broadcasting later this week.

GAP president George Laughlin and former KTIB station manager Bethany Burns could not be reached for comment by press time.

KTIB was founded on Christmas Eve, 1953, by local investors.

GAP originally purchased the station in 2006 when its previous owner Delta Starr filed for bankruptcy.