 The station was purchased in 1978 and converted to WPLP.The owners of the new talk station was a conglomerate of three investors, including Paul Bilzerian, who would later go on to become a corporate raider, and Michael Spears, a Dallas radio personality.Bilzerian and the other two investors bickered over finances  and soon the station went into Chapter 11 bankruptcy protection, to be reacquired by Dan Johnson.