KALW Gets Loan From S.F. School District
January 17, 2011 at 4:22 AM (PT)
SAN FRANCISCO UNIFIED SCHOOL DISTRICT noncommercial KALW/SAN FRANCISCO is receiving a loan of up to $200,000 from the school district to keep the station operating through financial difficulties. The SAN FRANCISCO CHRONICLE reports that the board voted unanimously to provide the station with a line of credit, despite financial woes for the school system itself.
KALW GM MATT MARTIN told the CHRONICLE that the station has been losing money for three years and is about $120,000 in debt. The loan is for 18 months at 1.5% interest. While the station is licensed to the district, it has operated financially independently since 1992.