Former owner Dick Robinson appeared with Connecticut state officials to announce that a federal bankruptcy court has approved a deal to have him acquire 11 locations of the Connecticut School of Broadcasting. The facilities, which closed abruptly in March, are to reopen this summer.
“Since 1964, the students have been our priority. My family and I, along with a dedicated staff of over 100 radio and TV media specialists, have focused on providing students with an outstanding hands-on, learn-by-doing experience. I would not have agreed to repurchase the schools unless students were made whole. Students who have graduated from Connecticut School of Broadcasting, and who were in good standing with the School, will continue to receive the benefit of our job placement resources,” Robinson said. All students with outstanding deposits are to receive full tuition reimbursements.
Robinson founded the Connecticut School of Broadcasting in 1964 and, in 2006, sold the schools to DLJ Merchant Bank, an affiliate of Credit Suisse. Without warning, the school closed all 26 locations and filed for bankruptcy in March.
According to the Hartford Courant, Robinson is paying about $1 million to buy the 11 locations in seven states in the deal approved by the bankruptcy court.
Robinson appeared at a news conference with Connecticut Attorney General Richard Blumenthal and Commissioner of Higher Education Michael P. Meotti to announce the reopening plans. Blumenthal and Meotti had previously been instrumental in negotiating a “teach out” of the Spring 2009 semester to enable students at the Farmington and Stratford schools to complete unfinished classes and receive their diploma.
Reopening of the two Connecticut locations of the school is dependent on receiving approval of the new owner by the state Department of Higher Education. “We anticipate absolutely no difficulties in approving the Connecticut School of Broadcasting’s change of ownership,” said Meotti.