KTRU Sale Filed With FCC; EMF Buys KLVS
November 1, 2010 at 11:52 AM (PT)
The UNIVERSITY OF HOUSTON has filed with the FCC to purchase RICE UNIVERSITY's noncommercial KTRU/HOUSTON and FM translator K218DA/HOUSTON for $9.932 million ($9.5 million cash, plus six paid internships for RICE students for three years, valued at $432,000).
The deal has been the subject of student and community protest at RICE, including the formation of "FRIENDS OF KTRU," a group looking to block the sale through legal action.
In another deal, this one not yet filed with the FCC, SAN JOAQUIN BROADCASTING CO. is selling Contemporary Christian KLVS (K-LOVE)/STOCKTON, CA to EDUCATIONAL MEDIA FOUNDATION for $10 million in stock. The station began broadcasting EMF's K-LOVE format in FEBRUARY. GREG GUY of PATRICK COMMUNICATIONS served as broker for the deal.