January 19, 2018

Historic alternative radio network in financial trouble

Current - The Pacifica Foundation is seeking a loan to avoid bankruptcy and seizure of its assets.

The foundation is close to acquiring a $2 million loan from supporters of KPFK in Los Angeles, according to Bill Crosier, interim executive director of the Pacific Foundation, and board member Grace Aaron.

Pacifica is at risk of asset seizure following a judgment in October that ordered the network to pay $1.8 million in back rent plus interest to the Empire State Realty Trust. The rent is for the transmitter of WBAI, Pacifica’s New York City station.

1 comment:

William Boyd said...

With the financial challenges faced now by Pacifica, now is the time for us all to offer our support, in my view.

While never residing in California, I became a donor to the Houston Pacifica-affiliate during my nearly 4 years in Texa. Since then, I've been a faithful donor to KPFA, KPFT, and WPFW.

Admittedly, apart from the 4 Pacifica stations, there are many other community radio stations across the country with many offering worthy programming equal to or exceeding that offered by NPR stations.

Thanks, Sam, for allowing me this platform.

Bill in Fredericksburg, VA