According to and article in 27 East News, Peconic Public Broadcasting and Long Island University have agreed to another extension in PPB's efforts to raise enough funds to buy WLIU. Since they were granted the extension, I'm assuming PPB has made significant progress in raising more than $600,000 needed to close the deal.
The station is situated in the Hamptons on the east end of Long Island featuring local public affairs, jazz and public affairs programming.
If Peconic Public Broadcasting fails to meet its obligation, the station will be sold to the highest bidder. The rumor (not confirmed) is the highest bidder is a faith based organization.
Right now PPB is seeking matching funds for a George Soros grant. They're also working with a bank to get a loan for the remaining amount. The extension is for 25 days.
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