Peconic Public Broadcasting Gets Another Extension

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.

Peconic Public Broadcasting Could Default August 31

WLIU still needs to raise $300,000 by August 31. If they fall short, Long Island University says they will sell the station to the next highest bidder.
There's more on this story in the Riverhead News Review. If you're interested, you can donate on-line at http://www.wliu.org/site2009/index.php

Royalty Rates For Music Stations

Jazz | AllAboutJazz.com

According to the proposal presented in this article...most non-commercial stations would have royalties capped at $1,000 a year. Commercial broadcasters would be on the hook for considerably more. The fee for a station earning more than $1.25 million a year would be 1%. A station with yearly revenue of $4 million would pay $40,000 a year in royalties.

The deal is being hammered out between NAB and Music First. Fees for streaming are said to considerably less. The agreement is still in negotiations.

Peconic Makes Down Payment

The community group that wants to keep WLIU local to Long Island's East End made their first payment to the University that owns the station. Long Island University accepted $158,000 from Peconic Public Broadcasting according it Radio Ink. The group still needs to raise $850,000 by June. It's as serious undertaking by a radio station that had about 300 contributors a year ago.
There's more detail in 27East.

WLIU Looking For A Home

WLIU is looking for a new home after the successful bid by a community group to purchase the station from Long Island University. They also finished their first fund drive as a community based station. The $90,000 they raised isn't anywhere near the $2.4 million needed to pay Long Island University. But, by far, it's the most they've ever raised during an on-air appeal.
There's more information about the station at 27 East News.

Bids For WLIU Due This Week.

Long Island University is taking bids Wednesday for their radio station WLIU. There's a local group in the running to make a successful bid. The unknown factor is that there might be a religious broadcaster with deep pockets that might outbid Peconic Public Broadcasting.

Robert Altholz, Long Island University's treasurer and vice president for finance, told the AP he has a fiduciary responsibility to accept the highest bid. Those trying to save WLIU as a local public radio station are hoping community goodwill will also be a factor. LIU says it is spending $1million a year on the station. They say they can no longer afford to do that.

Read the rest Frank Eltman's article from the AP.