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, credits Marc Hand, CEO and Co-Founder of Public Media Company, and the rest of his team for guidance that helped bring about this favorable result. Public Media Company works on sustainability for public broadcasters and has been involved with KCPW for nearly a decade.
If it wasn’t for the initiative and the foresight of Marc Hand and Susan Harmon, co-founders of Public Media Company, dozens of listener-supported public radio and viewer-supported television stations would no longer exist.
Public Media Company submitted comments to the FCC, in response to the Notice of Proposed Rulemaking issued on February 24, 2017 to authorize television broadcasters to use the ‘Next Generation’ broadcast television transmission standard (ATSC 3.0).
By PMC CEO Marc Hand, writing in Current: “Despite eye-popping windfalls for some stations, the FCC broadcast spectrum auction was a disappointment for public media. Here’s why: Prior to the start of the auction, the prevailing wisdom was that the forward auction would generate anywhere between $30 billion and $60 billion in gross proceeds…”
The new ATSC 3.0 broadcast standard won’t wash your car, fold your laundry or provide tomorrow’s winning lottery numbers. Beyond that, though, broadcasters attending PBS TechCon are being promised a wide array of benefits from the next-generation digital TV system that’s a focus of this year’s convention.
As we transition from the FCC spectrum auction and the FCC auction quiet period, public television stations may face unique and interesting post-auction opportunities that could allow them to improve their service, generate additional revenue, or both.
“The FCC’s incentive auction may not have resulted in the jackpot payday that some television broadcasters hoped for, but public broadcasters could still benefit financially through channel-sharing deals.”
CPR was represented in the following transaction by Public Media Company: Colorado Public Radio (CPR) today announced plans to broaden the geographic makeup of its newsroom and expand the broadcast reach of its news service (CPR News) along the Front Range.
Public Media Company represented RIPR throughout its negotiations with U Mass Dartmouth, and also prepared the financial analysis for the transaction. Congrats to both!