Deal for sale of Bonham home falls through
Prospective buyer had said she wanted to build Internet TV studio
Kerry Craig | News-Telegram Assistant Editor

Feb. 6, 2006 -- The deal is off. 

After more than a month of speculation about development of an Internet television production facility and the purchase of the Mary Bonham home on Interstate 30 east, as well as the Rafter L Training Stables, the deal was called off late Friday afternoon.

Joy Walker of Florida said in December her group was buying the Mary Bonham home on Interstate 30 and would construct the television production facilities on property adjacent to the approximately 12,000 square foot home.

Walker said during the December press conference that their plans called for architects to begin work on the facility in early February.

�We want it done as fast as we can,� Walker said in December. �We also start casting that week for additional programming.�

Walker’s attorney, Terry Taylor of Colleyville, said Monday morning that Walker asked for additional time — two more weeks — before closing on the transaction in order to explore what he termed “information that was given to us” about the property.

Bonham’s attorney suggested a slightly shorter extension might be acceptable if another $20,000 in non-refundable earnest money was paid.

Walker and her attorney apparently did not want to pay the additional money, and Bonham rejected the request.

�Basically, she said �No,� and to get off her property,� Taylor said. �All we wanted was additional time to check out this information.�

When asked if there were problems in getting the $15.5 million for the property, Walker's attorney said there were not, and that he stopped a transfer of funds.

�Joy was going to put the funds in escrow, and I stopped her,� he said. �I asked her to go get a certified check instead, because I wanted to demonstrate, when I went in the [closing] meeting, that we had the funds, because I knew there was such a question about it, and [Joy] was unable to get that certified check.�

Older Archives

Looking for News-Telegram Sports and News Archives for January 2004 - November 2008