WBUR Sells WRNI for $2 Million
Deal promises future for Rhode Island public radio
In a deal that promises the continued presence of public radio in Rhode Island, WBUR, Boston University’s National Public Radio station, has announced that it will sell WRNI-1290AM to the nonprofit Rhode Island Public Radio (RIPR) for $2 million. The agreement, pending state and federal approvals, gives the country’s smallest state its first locally owned and operated National Public Radio network. BU acquired WRNI in 1998.
RIPR also announced that it will purchase WAKX-102.7FM in Narragansett, dramatically expanding the station’s coverage to include nearly all of southern Rhode Island. RIPR’s purchase of WAKX will be financed through a loan from the Rhode Island Foundation, and the acquisition is expected to be completed within 60 days. WBUR will continue to provide programming and engineering support to the new broadcast entity for a period of five years.
Paul La Camera, WBUR group general manager, says that he believes public radio in Rhode Island is best served by local ownership and control. “This agreement creates an opportunity for that,” he says. “It provides the best of both worlds: the people of Rhode Island own and direct the future of their public radio station while allowing us to provide continuing support through what will be some formative but exciting years.”
Under the terms of the agreement, the nonprofit organization will pay the $2 million to WBUR, which has made a $3.6 million capital investment in its Rhode Island public radio operation since 1998, over a 10-year period.
“This historic agreement ensures that Rhode Islanders will control the destiny of this important media outlet,” says Eugene Mihaly, RIPR president, who acknowledges the critical role of Boston University in incubating WRNI for the past nine years. “Local NPR stations are the crown jewels of communities across the country. RIPR is thrilled to bring WRNI home.”
Once WAKX is on the air throughout the region, says La Camera, WXNI-1230AM, the Westerly-based station that currently carries WRNI programming, will no longer be needed, and the University will sell it. Proceeds from that sale, he says, will be credited towards the $2 million RIPR is paying for WRNI. WBUR also will provide help and support in the transition and assist with regulatory and related licensing matters in the coming months.
Art Jahnke can be reached at jahnke@bu.edu.