Word: shedd
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Dates: during 1990-1999
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Cerullo won out because the new bankruptcy trustee, Dennis Shedd, preferred to unload all the PTL remains as a unit. Roberts wanted only the TV network, while Cerullo was willing to offer a total of $52 million for all of Bakker's former empire. There were five other eleventh-hour bidders, including a secular TV-ad broker who offered $8.35 million for the cable operation. But Cerullo is the rightful heir, his lawyer pleaded, because "the men and women who created that partnership were Christians." A court hearing on the non-TV transaction will be held next month...