RadioInsight

///////////////////////////////////////////
Friends Of 88.5 Sends Letter Of Intent To Purchase KPLU

Posted: 27 Apr 2016 08:10 AM PDT
https://radioinsight.com/blog/headli...purchase-kplu/

The battle over Public News/Jazz 88.5 KPLU Tacoma WA continues as the local
non-profit created to keep the station out of the hands of University of
Washingtons KUOW. KUOW announced its intent to purchase KPLU last November
for $7 million plus $1 million worth of underwriting. KUOWs plan was to
flip KPLU to all Jazz while letting go of the current staff. Following
community backlash, Pacific Lutheran University agreed to sell the station
to a local group should they reach agreement on a similar price offer by
June 30. Friends of 88.5 says it has now raised $4,375,842 towards the $7
million purchase price. As part of its offer all of KPLUs on-air staff
including 16 news reporters, the 12 person jazz/blue music staff, and
Jazz24.org will be retained along with local music education and operating
on the Pacific Lutheran campus. Friends of 88-5 FM, a local non-profit
formed to ensure the future of public radio station KPLU (88.5 FM),
announced today that it has submitted a Letter of Intent to Pacific
Lutheran University setting forth principal terms for its purchase of KPLU.
“We are deeply grateful to the thousands of listeners who continue to give
generously to support a civic and cultural treasure they believe in,� said
Stephen Tan, former chair of KPLU’s Advisory Council who has stepped
forward to chair the governing board of Friends of 88.5 FM. “With a robust
schedule of community events, listener challenges, and support from
regional businesses and major donors, we are confident that we will reach
our fundraising goal by June 30. We look forward to meeting with Pacific
Lutheran University soon to negotiate the Asset Purchase Agreement.� On
November 12, 2015, Pacific Lutheran University announced plans to sell KPLU
to the University of Washington and its own public radio licensee, KUOW,
for $7 million dollars and $1 million of in-kind underwriting. Under KUOW’s
ownership, 88.5’s broadcast towers would be used to further the reach of
KUOW. KPLU’s news service, reporters and community outreach programs would
be disbanded, and current programming would be replaced by a 24-hour
streaming jazz service. Following a public outcry, Pacific Lutheran
University announced on December 17, 2015, that it would sell KPLUs license
to a community group, provided that the group makes a substantially similar
offer and the parties reach agreement on the principal terms of an Asset
Purchase Agreement by June 30, 2016. The nonprofit Friends of 88.5 FM was
formed to oversee the process—and fundraising—necessary to secure a
community license and continue station operations. Under the terms of the
offer made by Friends of 88.5 FM, KPLU would retain its award-winning
16-person independent, local newsroom; a 12-person jazz and blues music
staff; and Jazz24, a 24-hour high-definition streaming service that reaches
100,000 weekly listeners around the world. The station would also continue
a longstanding commitment to local music education (including the widely
acclaimed School of Jazz that pairs leading jazz professionals with local
middle and high school jazz bands). In addition, the Letter Of Intent to
purchase KPLUs license calls for 88.5 to continue to operate out of the
Martin J. Neeb Center, a broadcast facility on the Pacific Lutheran
University campus built specifically for KPLU and funded by KPLU listeners
and supporters (exact timeframe to be determined). About one-third of all
public radio stations in the United States hold community licenses,
including industry leaders such as KERA (Dallas), KQED (San Francisco),
WBEZ (Chicago), WGBH (Boston), and WNYC (New York).

///////////////////////////////////////////
Los Angeles Dodgers Take 49% Stake In 570 KLAC

Posted: 27 Apr 2016 07:43 AM PDT
https://radioinsight.com/blog/headli...e-in-570-klac/

The Los Angeles Dodgers and iHeartMedia announced in November 2014 that the
franchise would take an equity stake in Sports 570 KLAC Los Angeles as part
of their new rights agreement. That deal has finally been filed with the
FCC. KLAC will be spun into Los Angeles Broadcasting Partners, a new
holding company held by the two groups. iHeart will retain 51% of the
ownership of the station as well as control of its day-to-day operations.
The Dodgers, through its LARadioCo will hold 49% of the station. As part of
the deal, iHeart cannot launch another Sports station in the Los Angeles
market for the next fifteen years without the written consent of the
Dodgers.