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Black economic history was made in Memphis this week as Art Gilliam closed the deal and became the owner of WLOK Radio, making him the only black to own a radio station in many years.
Gilliam says it is difficult for the average person to conceive of how hard it is to buy a radio station. From the time he contacted Star Broadcasting, the previous owners of WLOK, in April, 1975, he thought many times "that I had bitten off more than I could handle". The first price Star set for sale was $1 million in cash. Gilliam said he backed off for awhile...