Nonprofits Buy Option To Put Brakes On WDUQ Sale For Two Months
May 5, 2010 at 4:26 AM (PT)
The PITTSBURGH POST-GAZETTE reports that a group of four local foundations has joined forces to buy a 60-day option to purchase noncommercial WDUQ/PITTSBURGH from DUSQUENE UNIVERSITY.
The PITTSBURGH FOUNDATION, the HEINZ ENDOWMENTS, the RICHARD KING MELLON FOUNDATION, and an anonymous foundation paid an undisclosed sum for the option, but PITTSBURGH FOUNDATION President GRANT OLIPHANT said that the foundations are not interested in actually taking over ownership, instead intending to buy some "breathing space" for the station so they can determine the "strongest vision for what the station should be."
The college put WDUQ up for sale late in 2009 and seeks about $10 million in the deal; the option puts a halt to any sale negotiations until the last week of JULY.