BREAKING NEWS:

Daystar Television Network, the Christian broadcaster that sued the Coast Community College District over the sale of KOCE-TV, has reached a settlement with the district to drop the suit and its bid for the station, Daystar attorney Richard Lloyd Sherman said today.

Hoping to raise money for academic programs, the district in 2003 put KOCE up for sale and ultimately sold the station to its own foundation. Daystar also bid for KOCE and sued, claiming its $25.1 million cash bid trumped the foundation’s $8 million cash and $24 million credit offer.

An Orange County Appellate Court judge voided the sale in 2006, but Daystar’s suit was not resolved until now. Sherman would not disclose details of the settlement, but said, “KOCE will continue to be owned and operated by the foundation. Daystar is very pleased with the agreement.”

In a written statement, district board President Jerry Patterson stated, “The Coast Community College District Board is pleased to learn that this settlement will allow the KOCE-TV Foundation to retain the station license so that it can continue to serve the public’s interest by providing quality PBS and educational television to our community.”