Robert O. Copeland, the apparent winner of a 1999 auction for channel 21
Virginia Beach, Va, wants judges to drastically reduce his purchase price.
The Hampton Roads, Va.-based real estate investor and paper broker wants
the Federal Appeals Court in Washington, D.C., to cut his $5.69 million
obligation to $806,000.
Copeland was awarded the permit for channel 21 after initial winner Winstar
Broadcasting Corp. failed to make its payment.
Copeland said he should not be forced to pay more than his initial bid minus a
35 percent bidding credit for new entrants to the industry on the grounds that his
final offer was bid up by competitors unqualified to participate in the auction.
Copeland's attorney said he will make good on the $5.69
million payment in order to secure the permit and ask for a refund if the court
rules in his favor.
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