Duquesne May Need To Fork Over $7M After WDUQ Sale

[FreddyE1977]

Looks like the sale has stalled out again for the time being...

http://www.post-gazette.com/pg/10159/1064082-67.stm

Interesting that the article mentions one of the parties involved wants to remain anonymous.
Unless something has changed, I don't believe you can own all or part of a broadcast station
anonymously. Whoever it is will have to be disclosed at some point.

 

[apostate]

They're not going to buy it. They have withdrawn their option to purchase the license. Had they exercised the option, though, they simply would have established a non-profit corporation to own the station and funded it. Not an issue now, in any case, though.

 

[Parttimer]

It's too bad Pitt doesn't have the cash lying around. When we established WPTS, something along the lines of WDUQ is what Dr. Posvar actually wanted...

 

[FreddyE1977]

It's too bad Pitt doesn't have the cash lying around. When we established WPTS, something along the lines of WDUQ is what Dr. Posvar actually wanted...

I suspect that Pitt actually does have the cash lying around. They would just prefer to spend it elsewhere.

I actually think that WPTS as it exists is a much better thing for the students. At least they get to actively participate
and produce most of the programming. WDUQ is an NPR network station run by paid staff. Little to nothing left for
the students to actually do there.

 

[pman44]

I, as an alum who had friends that got valueable experience working at WDUQ, am hoping Duquesne rethinks this and keeps WDUQ. I think it's a bonehead move, but I'm sure the potential money is tempting.

 

[apostate]

Should Pittsburgh Public Media succeed in acquiring the license, there is likely to an ongoing role at the station for student journalists, and potentially other student employees. Duquesne students would undoubtedly figure prominently.

 

[Parttimer]

It's too bad Pitt doesn't have the cash lying around. When we established WPTS, something along the lines of WDUQ is what Dr. Posvar actually wanted...

I suspect that Pitt actually does have the cash lying around. They would just prefer to spend it elsewhere.

I actually think that WPTS as it exists is a much better thing for the students. At least they get to actively participate
and produce most of the programming. WDUQ is an NPR network station run by paid staff. Little to nothing left for
the students to actually do there.

It would be interesting if the university actually had both.

 

[Snafu]

Pitt doesn't have the cash lying around. The state budget crushed them last year. That's not to say that you couldn't get some deep pocketed alum to come up with the money, but state related schools right now would rather that alum buy them a lab or an endowed scholarship.

At some point reality is going to set in and Duquesne is going to have to sell for what the market will bear. Right now they have the equivalent of a cute two bedroom Cape Cod in Greentree and want $3,000,000 for it.

Just because you want $10,000,000 out of something doesn't make it worth that much.

 

[FreddyE1977]

Pitt doesn't have the cash lying around. The state budget crushed them last year. That's not to say that you couldn't get some deep pocketed alum to come up with the money, but state related schools right now would rather that alum buy them a lab or an endowed scholarship.

At some point reality is going to set in and Duquesne is going to have to sell for what the market will bear. Right now they have the equivalent of a cute two bedroom Cape Cod in Greentree and want $3,000,000 for it.

Just because you want $10,000,000 out of something doesn't make it worth that much.

ALL colleges and universities like to cry poor, especially around appropriations and alumni fundraising time.
Pay no attention to those huge endowments lying around in offshore accounts and underground caves.
Pitt is cash-strapped in the same manner that Highmark is a non-profit.

On the other hand I do suspect that Duquesne is having some legitimate cash flow issues. The sale of WDUQ (plus I don't believe that Title IX was the entire reason they nixed the baseball program) points in that direction.