Finding Santa Barbara Foundation’s KDB a New Operator
CLIENT(S)Santa Barbara Foundation
ADDITIONAL PARTICIPANT(S)KCRW, KUSC
TOPIC(S)Brokerage, Business Modeling, Station Valuation, Negotiations, Operational Agreements
When the Santa Barbara Foundation decided to find a new operator for their classical station KDB 93.7 FM, they turned to Public Media Company (PMC) for guidance. PMC assisted the Foundation in discussions and negotiations to select an operator that would preserve the classical music format and have the business experience and financial capability to sustain the station. Santa Barbara Foundation sold KDB 93.7 FM to KCRW, a leading National Public Radio affiliate. KCRW then swapped KDB for KUSC’s 88.7 signal. KUSC will offer classical music on 93.7, while KCRW will provide its hybrid format of music genres, news and cultural programming to the Santa Barbara community on 88.7. Securing a suitable noncommercial buyer preserved this station from being open to commercial buyers.