WYEP And Public Media Co. to Acquire WDUQ
January 18, 2011 at 9:12 AM (PT)
The Executive Committee of the Board of Directors of DUQUESNE UNIVERSITY in PITTSBURGH voted to accept an offer to acquire the University’s radio station, WDUQ. The new owners, a new local ownership and operating entity, ESSENTIAL PUBLIC MEDIA (EPM), will pay $6 million dollars.
EPM is a joint venture of WYEP, an independent, public Triple A radio station that has been serving PITTSBURGH for 37 years, and PUBLIC MEDIA COMPANY (PMC), a nonprofit launched by PUBLIC RADIO CAPITAL -- an organization with a mission of helping communities nationwide build public media services since 2001.
The station will remain focused on news and information as well as Jazz programming -- WDUQ has a legacy of more than 60 years of service to the community and the distinction of being the first public radio station in PITTSBURGH. Further, EPM will continue DUQUESNE UNIVERSITY student employment and internships at the station.
MARCO CARDAMONE, chair of the WYEP Board, said, "Through WDUQ, ESSENTIAL PUBLIC MEDIA has an amazing opportunity to transform local journalism, offer reliable news and information, spark civic conversation and shed light on important issues. In partnership with PMC, we have access to relationships and public media organizations that will allow us to draw upon the best resources and practices in the public media space."
"ESSENTIAL PUBLIC MEDIA is planning to develop and sustain a vibrant media service that brings NPR, global and national news to the region, building on today’s media technologies and a deeper emphasis on local journalism," said SUSAN HARMON, PUBLIC RADIO CAPITAL’s managing director and PMC director. "The University deserves credit for choosing to make this transaction one that will continue to benefit the University community as well as the regional community. We are confident that this deeply valued asset will gain in significance and service going forward."