They’ve been trying to keep noncommercial Hamptons-Riverhead stalwart WLIU-FM going despite the plans of the Long Island University to spin the station off, and now, finally, a deal has been filed with the FCC. Peconic Public Broadcasting will take over the station for a combination of cash and services.
Hamptons-Riverhead encompasses the eastern end of Long Island.
The station is officially licensed to Long Island University Public Radio Network, and to the town of Southampton NY. The licensee turned over operation of the station to Peconic 12/1/09 in a form of LMA they are calling a “revised management operating agreement.”
PPB will pay $850K cash for the station, due by closing time, with payments under terms of the RMOA counting toward that amount. Also, if not handled under the RMOA, PPB will be liable for an estimated $25K in moving and construction permit costs.
Additionally, PPB will enter into what amounts to a consulting agreement, called a PESA: a “programming and engineering services agreement.” It will provide such services to LIU’s WCPW-FM Brookline NY in the adjacent Nassau-Suffolk market, encompassing the western end of Long Island. The PESA is good for three years.
Noncommercial brokerage firm Public Radio Capital helped put the transaction together.
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