[Kzyxtalk] New GM at KZYX has bankruptcy expertise

[sako4 at comcast.net]

from the AVA's "Mendocino County Today>, 13 November 2016... 










Green 


TERRY GREEN has been hired as KZYX’s new General Manager. Mr. Green was General Manager of Santa Cruz’s public radio station KUSP until the Fall of 2015 when, according to the Santa Cruz Sentinel, “The general manager of struggling KUSP 88.9 FM was laid off at the end of the day Wednesday. For 12 years, Terry Green ran the public station that is now on the brink of bankruptcy. The station shoulders $280,000 in loan debt and $435,000 of unpaid bills to National Public Radio. With an annual budget of about $1 million, it operates at an annual loss of $150,000 to $200,000.” 




(Apparently there were the equivalent of ten full time staffers at KUSP at the time.) 




After Mr. Green was “laid off,” the station dumped its costly NRP-heavy programming, laid off most of its employees, and went to a young-adult music format hoping to cut costs and attract new members/listeners. They also asked the Santa Cruz area — known for its high percentage of wealthy liberal residents/donors — for an emergency donation of $300k so they could survive for another six months. But they got less than $100k in response and, a few months later, filed for bankruptcy. Now, KUSP is no more and has been sold. 




According to Tyler Falk of current.org which follows “news for people in public media,” writing on October 28, 2016: 



KUSP License, Assets, Wine Sold Off To Religious Broadcaster — A religious broadcaster emerged as the top bidder Tuesday in an auction for the broadcast license and other assets of bankrupt KUSP in Santa Cruz, Calif. 

Educational Media Foundation won with a $605,000 offer, outbidding two competing parties: a local organization with ties to KUSP, and public radio station KCRW in Santa Monica, Calif. The religious broadcaster reached an initial agreement to sell at $400,000, before continued bidding drove up the price. 

KCRW ended up as a backup bidder, putting it in line to buy the assets at $600,000 if EMF can’t complete the sale. 

Community nonprofit Media Watch/Central Coast Community Radio raised nearly $95,000 on youcaring.com and failed in its bid. “Now the group is hoping to obtain a different radio frequency that would serve Santa Cruz, Watsonville, parts of Monterey and Pacific Grove, and possibly the Big Sur coast,” according to a press release. 

KUSP filed for bankruptcy in August under nearly $850,000 in debt. 

According to court documents, KUSP’s assets included broadcasting equipment, furniture, a music collection and ‘1 Lot Misc. Wine’.” 



In other words, it sounds like Mr. Green will perfect for KZYX. 


-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://lists.mcn.org/pipermail/kzyxtalk/attachments/20161113/74a9c497/attachment.html