Sale to Friends of 88.5 FM would make public radio station community owned
$7 million goal will be reached in less than six months
The backers behind the effort to purchase KPLU are on the verge of reaching their goal: raise $7 million to keep the station out of the hands of the University of Washington’s KUOW.
It took supporters of the Tacoma-based public radio station only five months and change to raise the money.
The effort could make the record books. Never has so much money been raised in so little time to buy a public radio station.
After the public outcry officials at both UW and PLU agreed in December to allow a community-based nonprofit group to make their own offer on the station’s license for $7 million — the same price KUOW would pay.
Supporters created Friends of 88.5 FM to raise the money needed to buy the station’s license and other assets. They face a June 30 deadline and a number of other steps including FCC approval.
“When KPLU was in trouble, the community reacted,” said University of Washington meteorology professor and KPLU weather commentator Cliff Mass on Monday. UW owns KUOW.
READ THE REST OF THE STORY HERE AT THE NEWS-TRiBUNE WEBSITE
