from Trans America Broadcasting Corp, buying the license of KTYM-FM in Inglewood, California for $321,000, including actual facilities at 6803 West Boulevard in Inglewood, and FCC licensing fees, renaming it KAGB-FM. Using a $199,900 promissory note and stock purchase warrants from the Urban National Corporation of Boston, Massachusetts (a Venture Capital company founded in July 1971), Avant partnered with two investment bankers. Del Shields from the National Association of Radio and Television Announcers (NARTA) served as Executive Vice-president. Management refused to accept all counsel or advice on how to run the station, despite never turning a profit. Ultimately, AVG was forced into bankruptcy by Urban National on November 20, 1975, when it defaulted on promissory notes and warrants of around $400,000. Avant lost about $611,168.67 in the bankruptcy, $71,500 from Interior Music Corporation advances between August 1973 and September 1974, and $13,887 from Sussex Records loans. Comedian Bill Cosby was an additional investor in Avant Garde Broadcasting, investing approx. $200,000 through his company SAH Enterprises. Save the Children In September 1973, Paramount Pictures released Save the Children, with Avant serving as executive producer. Filmed at the Operation PUSH Black Expo in Chicago, the production mixed performances of top black entertainers with footage depicting blacks, especially children, in various conditions, including war-ravaged and malnourished refugees. The film premiered at the Apollo Theater in Harlem. Awards On February 10, 2008, the National Association of Recording Arts and Sciences awarded him the Trustees Award. On October 7, 2016, Avant received a star on the Hollywood Walk of Fame for his contributions in the recording industry, located at 6363 Hollywood Boulevard, next to Jimmy Jam and Terry Lewis' star. In February 2018, Avant received the President's Merit Award as a Grammy Icon at the Clive Davis Pre Grammy Gala in Los Angeles. On May 12, 2021, the Rock and Roll Hall of Fame announced that Avant received the Ahmet Ertegun award and will be inducted to the 2021 class. Previous inductee Bill Withers, as well as Vice President Kamala Harris and former President Barack Obama spoke about Avant's impact in a video package. Personal life In 1967, Avant married Jacqueline "Jackie" Alberta Gray (born March 6, 1940, in Jamaica, Queens, New York). The couple had two children. Daughter Nicole Avant (born March 6, 1968) is a former United States Ambassador to the Bahamas, and wife of Ted Sarandos (an executive at Netflix). Son Alexander