Jul 12, 2012

University of Texas tables deal to buy second station for its KUT-FM in Austin

The University of Texas Board of Regents has tabled a decision to purchase "classic hits" KXBT-FM as a sister station for its KUT-FM in Austin "while questions about the proposal are answered," reports Radio Insight. The initial plan was to buy the station for $6 million and shift KUT's musical programming to KXBT.

An agenda item for the Board of Regents Wednesday (July 11) meeting said: "By differentiating KUT’s current mixed format of news and music services across two stations, U. T. Austin has determined that the acquisition would contribute to the long-term public service and sustainability of KUT in a number of ways," including providing "a high profile platform for promoting and sharing content from the Cactus CafĂ©," a musical venue in the student union that the station took over two years ago (Current, June 7, 2010).

"It has been the desire," the agenda item noted, "and a core element of KUT’s strategic plan, to differentiate and expand its public service across two FM stations serving the Austin market. KUT has worked with the nonprofit group Public Radio Capital, to identify appropriate station opportunities. In the past several years, KUT has considered and made attempts to acquire a station. These transactions have not gone forward, either because of higher bidders or other strategic reasons. Station management believes this is the most viable and attractive opportunity available now or in the foreseeable horizon."

No comments: