SAN DIEGO, Calif. (AP) -- The financially troubled Catholic Family Radio Network is looking for a buyer and could go off the air soon if no one is interested, an investor said.
''The only thing certain is we can't continue to run the network with the revenues not covering the expenses,'' said the Rev. Joseph Fessio, whose Ignatius Press in San Francisco invested in the network.
Fessio was unsure how many offers, if any, the network has received or how much money it had lost.
The struggling company is increasingly using programming from another Catholic network, EWTN, which is owned by another of the investors, Domino's Pizza founder Tom Monaghan. Catholic Family Radio's Web site has merged with that for Monaghan's Credo weekly, based in Ann Arbor, Mich.
The idea of nonstop religious radio programming, common for Protestants, remains a possibility for Catholics, said Fessio, but this company's ''business plan didn't work.''
The San Diego-based network purchased seven stations from Children's Broadcasting Corp. for $37 million in fall 1998. Former Pittsburgh Steelers linebacker John Lynch, the founding chief executive officer, was dismissed about six months ago, Fessio said.
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