A $1.7 Million Write-off and a New Chapter for Local Public Radio
KCPW has reached an agreement that significantly improves its long-term outlook. The deal restructures the 2008 loan used to purchase the station, and eliminates more than $1.7 million of long-term debt.
Lauren Colucci, KCPW’s General Manager, says that the arrangement means a new day for the local news and information outlet and its listeners.
“The debt burden that was taken on in 2008 saved KCPW; we would not be here today if those loans had not been made,” Colucci said. “But it also has been the biggest threat to the station since. It became unsustainable for all parties involved and finding a resolution has been a priority. We are thrilled by what this means for the station’s future.” READ MORE AT KCPW…