Peconic Public Broadcasting, which wants to keep local noncommercial radio programming flowing on the eastern end of New York’s Long Island, bid $850K to acquire WLIU-FM from Long Island University. It’s facing an 8/31/10 deadline to pay up, and according to local reports, isn’t even halfway there yet.
According to the New York Daily News, the group, comprised of long-time staffers, is $500K short of achieving the purchase price.
NYDN suggests that the station may be one donor away from achieving its goal – this is one market that has no shortage of well-heeled residents.
On the other hand, nobody has stepped forward and offered to support to station, and at least one well-heeled native, actor Alec Baldwin, has declined to provide the support.
If Peconic is unable to close on the station, Long Island University will have the options of finding a new buyer, who may move into a completely different format, or simply cut out local programming and rely on noncommercial syndicated fare to keep costs down.