A company owned by the family of Roy E. Disney -- Walt Disney's brother -- has offered to buy the broadcasting operations of San Juan Racing Associates, which owns radio stations WUST-AM and WJBM-FM in Washington.
The Disney family company, Shamrock Broadcasting, offered to pay$62 million and to take over about $5 million in San Juan's debts, said Hyman N. Glickstein, chairman and president of the company.
Besides the two Washington radio stations, San Juan Racing owns eight other radio stations and the New El Comandante Race Track in Puerto Rico.
Several prominent Washington businessmen are stockholders and directors of San Juan Racing, including Robert Philipson, the accounting firm president; Raymond Dickey and Martin Willig, partners in the law firm of Danzansky and Dickey, and Joseph Danzansky, chairman of National Bank of Washington.
Glickstein said he and other major shareholders of San Juan Racing "have received a proposal from Shamrock Broadcasting Co. which they look upon favorably for the acquisition of the radio station and broadcasting assets" of the company.
The sale would require the approval of the Federal Communications Commission, rulings by the Internal Revenue Service and completion of a definitive agreement, Glickstein said.
Glickstein's announcement indicated the sale would involve only San Juan Racing's broadcasting operations, not its other businesses.