Caruth’s Byrd-House

Despite the monumental boredom generated during recent public hearings over the renewal of Channel 8’s broadcast license, one wonderful bit of levity has turned up in the case’s files. The incident occurs in a deposition taken back in August, released recently by the Federal Communications Commission. It’s the kind of moment that gives lawyers gray hairs and nightmares.

The deposition involves Caruth Byrd, who is a stockholder in WADECO, a company organized by former State Sen. Jim Wade. Wade is trying to wrestle the Channel 8 license away from the Belo Corp., which owns both The Dallas News and WFAA-TV, and currently operates Channel 8.

Caruth Byrd has an agreement stating that if Jim Wade gets Channel 8’s license, Byrd will lend WADECO $3 million. In return Byrd will have an option to purchase 51 per cent of the company’s stock.

During the deposition,a Belo attorney asked Byrd a series of questions about why he wanted to invest in broadcasting. Byrd replied:

A. I like Channel 8. Besides that I heard that Channel 8 nets about a half-million dollars a month.

Q. When you say you like Channel 8, do you mean you like netting a half-million a month, or do you like the programs, or what was it you liked about it?

A. I liked netting that much.

Q. You liked netting that much?

A. Off the record, I don’t care if it’sa whorehouse if it’s netting half amillion a month.