A new article in the Morning News yesterday sounds like there are some on the City Council, who don't want to lease WRR to NTPB, but would rather sell it now. Adam Bazaldua represents the area around Fair Park and is the chair of the Arts and Culture Committee:
Selling the station would bolster the city’s Arts Endowment and allow the city to increase access to audio streams of public meetings, Bazaldua said during the committee meeting and reiterated later. He sees this as the best time to sell.
“It’s 2022, and I know how much I listen to the radio compared to what I used to, and the same for my family,” he said. “We’re not headed in a direction where more people are going to be listening to analog radio.”
I'm not sure exactly how a 7 figure war chest would "increase access to audio streams of public meetings". A live stream from the city's website is not expensive to run and they can put them up on YouTube, Facebook, etc. for free.
Funny enough comparing 2022 to the last two years, there actually are more people listening to "analog radio".
Nico Leone, the CEO of KERA, doesn't seem to have much confidence that they would prevail if the station was put up for sale:
“It’s a commercial station. Anyone can bid on it,” Leone said. “There are people out there with pretty deep pockets and no way to place a restriction on [the format of the station]. My expectation is that if the city sold the station, there would be no classical radio in Dallas.”
A lease is clearly considered more favorable with less downside to NTPB.
Also, of note: WRR has apparently racked up 5.6 million dollars of debt and is appraised at 13.5 million.
If the City were to put it up for sale, they estimate it would take
18-24 months to complete! Which seems nuts to me if it really is currently a money-losing operation.
If the City is that committed to classical music radio, and I personally don't think that they should be, then get a second appraisal and offer WRR to NTPB for the less of the two with a 10 year commitment to the format and be done with this nonsense.
If they just want to extract what the asset will bring, cut all expenses, put on Classical 24 until the new buyer closes and get that done this calendar year.
If Bazaldua is correct about "analog radio" being in decline, then it serves the City, its residents, and taxpayers, to sell this white elephant as soon as possible before its value declines further.
Dallas City Council committee discussed the future of station; public meeting set for May 23.
www.dallasnews.com