UPDATES: KPFK & KUSP

WILL KPFK BE DOA ON OCTOBER 1?

Independent, verifiable information regarding KPFK, LA, and Pacifica Radio in general, is hard to come by.  The latest rumor is that KPFK may have to shut its doors as early as October 1^st.

An email from KPFK’s management to staff says they will have a “no-premiums-at-all” emergency mini-drive beginning tomorrow, Thursday 9/24 that will continue until they raise $30,000. If they can’t raise that much, immediate bills will not be paid. There appears to be no viable life-line.

In an email, KPFK GM Leslie Radford, describes the dire situation:

I’ve been trying to get loans to cover us so that we can delay the start of fund drive, but those haven’t come through in time. Assuming [the emergency mini-drive] brings in $20K, I will personally guarantee a loan for the balance. 

Radford instructed on-air hosts to pitch “four times an hour” during the mini-drive. Many phones at KPFK are now disconnected. A new interim Business Manager left in disgust after less than a week on the job.

Last Friday [link] I asked why public radio organizations such as NFCB are not getting involved.  I received this candid anonymous comment:

Where are all those people? Watching the trolls destroy Pacifica faster than they could if they intervened.

Good point. This situation looks more and more like a suicide-in-progress. Pacifica may be on its way to bankruptcy and/or liquidation.

WHAT IS THE MARKET VALUE OF PACIFICA’S LICENSES?

I asked a friend of mine who is a media property broker for an outside opinion about the value of Pacifica’s five FCC licenses. The estimates in the chart below are “stick values” which do not include real estate or other assets.

STATION & MARKET	FACILITY	ESTIMATED MARKET VALUE	WHO MIGHT BUY IT
WBAI New York	99.5, 4.5kw, 1,362’ HAAT commercial freq	$150,000,000+	iHeartMedia, Cumulus, Emmis
KPFK Los Angeles	90.7, 110kw, 2,831’ HAAT noncom frequency	$25,000,000	Educational Media Foundation (EMF)
KPFA Berkeley	94.1, 69kw, 1,329’ HAAT commercial freq	$90,000,000+	Entercom, CBS, AMFM
KPFT Houston	90.1, 100kw, 673’ HAAT noncom frequency	$6,000,000	Local spin off
WPFW Washington DC	89.3, 50kw, 410’ HAAT noncom frequency	$8,000,000	American Public Media (APM), EMF

WBAI and KPFA can be converted into commercial stations so they are worth the most money. The only noncom organization that is flush with money is Educational Media Foundation (“K-LOVE”).

EMF recently purchased WKCP, Miami from APM for $21.7 million [link]. The word on the street is that EMF would pay top dollar for KPFK in LA.

EMF would also like to be in Washington DC but LA is a bigger priority for them. For-profit Salem Communications does operate some noncom stations and already owns commercial station WAVA in DC.  These folks want to affect policy so they might go after WPFW’s license.

A few years ago APM made moves to acquire WGTS-FM but I don’t think they are in a buying mood these days.  That could change, however, for access to the nation’s capital.

Classical KUHA in Houston is up for sale and word is no one seems interested in buying it for $8 million, the amount KUHF needs to pay off the mortgage. Reportedly, KPFT is the only Pacifica station with a positive cash flow. So, a local 501c3 might be a good option.

TERRY GREEN EXITS KUSP – STATION’S FATE IS UNKNOWN

I had mixed emotions when I heard that KUSP’s Board fired longtime GM Terry Green. After all Green did the best he could do to turn the ship around.  He even loaned KUSP $30,000. But maybe he has experienced enough grief already. If he wants another gig he will have no trouble finding one. Green is an honest fellow who is respected by his peers.

I read in Current that Public Media Company (PMC) is advising the KUSP Board about their options. If this is true, I hope KUSP follows PMC’s advice. Also, it appears the KUSP is resisting the flack from the radio survivalists with KUSP Forward. Good move.