Saturday, April 16, 2011

Deal to Buy WDUQ Stalls

The 90-day deadline for Essential Public Media to pull its financing together to purchase the licenses to broadcast at 90.5 FM in Pittsburgh has come and gone without a deal being made.

Duquesne University announced in January that it had reached a deal to sell WDUQ’s licenses to Essential Public Media, which is a joint venture of Pittsburgh radio station WYEP and Colorado based Public Media Company. Essential Public Media is a non-profit formed by California based Public Radio Capital to purchase and help operate public radio stations across the country.

Duquesne University Spokesperson Bridget Fare says there are still a few details to hammered out on the $6 million deal. WYEP Board Chair Marco Cardamone says he expects the deal to be done some time next. Public Media Co. did not respond to a request for comment at a California phone number listed on its website.

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