Financial Crisis at Pacifica Threatens Local Stations
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FEATURING BILL CROSIER – Pacifica Radio, the oldest public radio network in the nation, is on the brink of complete financial disaster. You may have heard this before. After all, the network that I work for teeters on the edge of insolvency as a matter of course. But this time, it’s for real.
The crisis originates from a $1.8 million unpaid debt from New York based Pacifica station WBAI to Empire State Realty Trust (ESRT) from transmitter rental fees. ESRT sued and won and now may seize Pacifica’s assets to cover its debt – including the four other stations in the network: WPFW in Washington DC, KPFT in Houston, KPFA in Berkeley, and my home station of KPFK in Los Angeles.
Against the advice of Interim Executive Director Bill Crosier, the Pacifica National Board of Directors voted against filing for bankruptcy, instead holding out hope that the network may be able to secure a loan to pay off ESRT.
Bill Crosier, Interim Executive Director of Pacifica Radio Network.