What happens next is really up to those 44 employees at WPSU. They've been told the university wants to wind down it's operations. That means they will be out of work. Perhaps the stations GM could look into forming an independent ownership of the station, along the lines of KUNC in Colorado. Find some local businesses to work with, and give support. Put them on the board of directors. Reach out to community groups. Tell the university they will welcome help from students. Maybe the university will still transfer the license to the community group as long as there's no financial commitment. Perhaps allow them to stay in the current building for a few years until they find a new location. I've seen stations do things exactly like this. It can be done, and wrapped up by June.
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Penn State considering transferring WPSU to WHYY, Inc.
- Thread starter Rollo-Smokes
- Start date
I would not count out WITF Harrisburg coming in to play on making a deal for WPSU. Like WHYY, however, WITF is now a union shop.
WHYY's reluctance to absorb the WPSU employees (and possibly a sticky point for talks with WITF) could be from taking on more UNION
employees. It's also possible WPSU-FM could be "handed off" to a local board agreeing to take the radio employees (which would certainly
be only a fraction of the 44), but where would that leave WPSU-TV? Nonetheless, the WPSU signals are far from going dark and silent.
WHYY's reluctance to absorb the WPSU employees (and possibly a sticky point for talks with WITF) could be from taking on more UNION
employees. It's also possible WPSU-FM could be "handed off" to a local board agreeing to take the radio employees (which would certainly
be only a fraction of the 44), but where would that leave WPSU-TV? Nonetheless, the WPSU signals are far from going dark and silent.
It's an interesting option. WITF is also an FM-TV combo. Same with WQED in Pittsburgh.
And with WHYY Wilmington-Philadelphia. And with WVIA Scranton. It seems the FM-TV combo is popular.
This is being pointed out elsewhere, but with WPSU facing oblivion Penn State nonetheless has money for this: Penn State Fires James Franklin, Will Pay Nearly $50M Buyout
Priorities, you know.🤑
Priorities, you know.🤑
We always say that sports makes money. So they have a much bigger budget. Especially in the Big 10. Most college radio stations carry the college sports. Not WPSU. In fact there doesn't appear to be much interaction between the university and the stations. They look at resources like this to make money, not cost money. To me, the sticking point was the university wanted WHYY to hire their staff. WHYY wanted them to pay for it. They said no. But I still feel there's room for a deal.
And now, this. No holiday for the PSU Trustees tomorrow:
Penn State trustees to consider WPSU sale for a second time Monday (Oct. 13)
Penn State trustees to consider WPSU sale for a second time Monday (Oct. 13)
The fact that the potential purchaser of WPSU's assets is not named is *not* a good sign.
That's interesting. The notice doesn't mention the prospective buyer.
This is more what the board seems to want. They want to receive money, not pay it.
Perhaps they're just considering the concept of a sale, and not an actual offer. Hard to say.
Earlier, I suggested that management might put together a group offer:
Do a Google search for “Highest paid government employee in every state” and you will find that for most of the country it is a football or basketball coach. Stark reminder of where our priorities are.
If you watch college football, at the end of every game, the coaches walk on the field to shake hands. They do so with the protection of two state policemen. Those state policemen are from the team's home state. They travel with the team all at taxpayer expense. Just to protect the coach.
And now they have to find a new coach, for a similar boatload of money.
The PSU board has approved WHYY's outright purchase of WPSU unanimously. No other details yet.
Penn State's Trustees just approved that a revised purchase offer from WHYY be accepted. The revised agreement pays WHYY about $7 million, WHYY is on the hook to raise about $8 million to operate the stations, and WHYY agrees to operate the stations for a minimum of 3 years. Before the sale closes, the University will consider other offers for 30 days. WPSU employees will be considered for open positions deemed necessary by WHYY.
That may have been the big sticking point. State university employees work under a very different arrangement from places like WHYY.
"Before the sale closes the station will consider other offers for 30 days." WPSU is definitely on the way to staying public radio but it isn't all the way there yet.
That's not what I'm interpreting in their announcement.
"Instead, WHYY will have a 30-day Exclusivity Period after the vote to seek financing commitments of at least $8.36 million."
WHYY has 30 days to get the funding, not for other offers to be considered.
Here is a quote reported by Current:
current.org
Here's the story from Penn State:
www.psu.edu
Penn State approves sale of WPSU to WHYY
WPSU had faced a wind-down in operations after a Penn State board committee rejected a proposed deal last month.
current.org
Here's the story from Penn State:
Penn State Board of Trustees approves new deal for WPSU | Penn State University
The Penn State Board of Trustees today unanimously approved the material terms of a proposed transaction to transfer the operating assets of WPSU public radio and television stations to WHYY, a public media organization based in Greater Philadelphia (licensed out of Wilmington, Delaware), which...