May 29, 2011
Management of New Jersey TV Network going to WNET/Thirteen in deal this week
New Jersey officials are finalizing a deal to allow WNET/Thirteen in New York City to run the New Jersey Network's television operation, the Star-Ledger is reporting today (May 29). State treasury officials are expected to announce the agreement this week. Sources tell the paper that WNET will incorporate a new nonprofit in New Jersey to manage the operation, and will work with several programmers, including Caucus Educational Corp., the nonprofit New Jersey production company run by Steve Adubato Jr., to provide local content. WNET will pay nothing to the state for the right to run the station. The state network also is auctioning off rights to purchase and/or run the radio operation. NJN recently was valued at $51.2 million for its four TV and nine radio stations. NJN asked for its independence three years ago (Current, May 12, 2008) and more recently Gov. Chris Christie decided the state can't afford the network anymore (Current, July 6, 2010).
Posted by Dru at 1:19 PM