Essential Public Media announced its intention to acquire WDUQ-FM from Duquesne University at the beginning of the year. Now, almost five months later, the contract is in at the FCC and it reveals a number of interesting details.
For starters, $4.5K has been added to the $6M price tag. That will defray DU’s expense associated with staying on top of a CP is holds for a new FM in Everett PA.
Oh, yeah, there are not one but two FM CPs included in this deal. The Everett PA station will be a Class A on 90.1 MHz with 460 W @ 1,010’. There’s another headed for Marion Center PA, a Class B on 88.5 MHz with 16 kW @ 663’. There are also four FM translators and a CP for another included.
EPM also gets the rights to WDUQ’s nationally-syndicated program “JazzWorks.”
What it doesn’t get to keep are the call letters. In fact, DU is very protective of its reputation and the relationship of the calls to the University. The contract states, “License may be revoked if in the Seller’s sole discretion, Seller concludes that the use of the WDUQ call sign is detrimental to the Seller or its good name.” It does allow the buyer to mention that the station was formerly WDUQ for 30 days following the acquisition of new calls.
The payment package includes a number of elements. EPM will pay $4,004,500 at closing in cash; it’ll strike a promissory note for $500K. DU will also get $1M worth of underwriting announcements over 10 years, and the station will provide $500K worth of internships for Duquesne students over 10 years.