| Subject: Friends of KUNC to acquire station license |
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Date Posted: 14:31:16 03/01/01 Thu
From the "Friends Of KUNC" website
www.frii.com/friendsofkunc
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Friends of KUNC to Acquire Station License
March 1, 2001
For more information call: Ken McConnellogue
970-351-1763 kmcconn@unco.edu
After receiving two excellent offers that would relieve the University of Northern Colorado of $172,000 in annual subsidies and bolster scholarship funds by nearly $2 million, the university today agreed to sell the license of KUNC to the Friends of KUNC, a move that will ensure the station's independence and community base.
Both offers involved the continuation of Public Radio programming and the music format that make KUNC unique. Both were close in their guarantee of the amount of net funds to the university.
The guarantee from the Friends of KUNC, regardless of the value of the station's endowment, could provide a significant advantage for the university in the event that the endowment is drawn down in the coming weeks.
As part of the Friends offer, interest on the $1.3 million deposit could amount to approximately $30,000 by closing, which is expected by summer. The station will move to new office space in the community in the coming weeks.
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