The Nation - News from Sept. 7, 1988

Former PTL leader Jim Bakker was given a two-day extension to come up with a $3-million down payment as the first step of his $172-million proposal to buy the television ministry’s assets. Bakker and PTL bankruptcy trustee M.C. (Red) Benton said they were still working out details of a contract for Bakker to buy assets of the Ft. Mill, S.C., ministry he gave up last year after a sex and money scandal. Benton had said on Friday that if the $3 million was not available by Tuesday he would be forced to consider other bids.