NATION : Roberts U. to Buy PTL Network
Oral Roberts University has agreed to pay $6 million to take over the PTL broadcast empire once ruled by Jim and Tammy Faye Bakker.
PTL’s trustee, attorney Dennis Shedd, said Thursday that he had signed the pact with the university, based in Tulsa, Okla., but still hopes to find a buyer to acquire the entire PTL complex.
“I do have a firm deal with Oral Roberts University. However, in the contract, I expressly reserved the right to sell all the assets until the point of approval of the sale of just the network,” Shedd said.