WLIU is an FM radio station that has been affiliated with Long Island University out on Eastern Long Island. LIU transferred the Southhamptom campus to SUNY in 2006, and SUNY didn’t want the radio station. LIU has been trying to sell the station for a while. LIU has a tower lease until 2024 from SUNY, but no studio facilities on their former campus. They thought they had a buyer for the station for $2.4 million (details here)
The deal required $850k in cash up front, and when the deadline came, the buyers didn’t have the cash. The deal was extended, and George Soros eventually ponied up $50,000 which bought another extension. Now it appears the buyers finally have the cash (SBA loan perhaps?) and the transfer will go through. I’m sure George Soros was motivated by altruism, not any other motives.
But running a radio station costs money, in addition to the $2 million in debt being used to acquire the station. The station is far from being out of the woods. Why don’t all those rich people out on the Hamptoms appreciate their NPR station?
Alec Baldwin and Christie Brinkley think you should help, too.
