The Nation - News from Nov. 3, 1988
The latest bidder for PTL says it is “absolutely necessary” that deposed evangelist Jim Bakker return to head the bankrupt ministry. That statement was made by a group of ministers and businessmen calling themselves Lexalt University, which offered $116 million for PTL last week. Bakker said that he was “thrilled at the thought.” U.S. Bankruptcy Judge Rufus Reynolds is scheduled to choose a buyer for PTL’s assets Nov. 16. He has four bids, ranging from $113 million to $120 million, for the Heritage USA complex in Ft. Mill, S.C., its 2,200 acres and the PTL television network.
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