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Public Radio Capital

7409 S Alton Court
Centennial, Colorado 80112

Contact: Susan Harmon, Managing Director
Phone: 720-493-4185
Fax: 720-493-4186
URL: www.publicradiocapital.org
Email: sharmon@publicradiocapital.org
Public Radio Capital

Public Radio Capital's mission is to strengthen and expand noncommercial media to provide more in-depth information, unbiased news, diverse music and cultural programming nationwide. In 2007, PRC launched the Public Radio Fund to benefit public radio organizations in need of short-term capital for asset-based projects. Loans from the Public Radio Fund may be used for station acquisitions, transmitters and production facilities to increase and diversify public radio in communities across the country.

Program

Public broadcasters must move aggressively in buying stations and keep their production facilities current, and that requires significant debt capital. The Public Radio Fund makes loans in four categories:

Client Population

PRC's clients are visionary public broadcasting leaders in both large and small markets in every region of the country, and represent a diverse range of systems from multiple-station operations such as Minnesota Public Radio and Puget Sound Public Radio, organizations that reach millions of listeners, to smaller systems such as Laytonville, California's Radio Bilingue and Vermont Public Radio, each of which cover much smaller populations. PRC's clients are not-for-profit public broadcasting licensees that are either separate 501(c)3 organizations governed by a board of directors or not-for-profit institutional licensees such as universities, colleges or school districts.

Impact

38 station projects increased public radio listening by 15 percent between spring 2001 and spring 2008, a period in which public radio added some 4 million listeners. Thirty-one PRC transactions helped public radio stations expand their signal reach by adding a new signal or increasing transmission power to reach more people or differentiate their services, such as adding a new channel to program news exclusively. PRC work has also helped preserve seven public radio stations on noncommercial frequencies which would otherwise have been sold to religious broadcasters.

Story

Public Radio Capital
PRC represented KERA, public television and radio for North Texas, in the 2009 acquisition of 91.7 FM and the Public Radio Fund is an important part of the financing mix. PRC served as the broker and financial advisor for the acquisition, which will increase public media options for more than 5 million residents of the Dallas Fort Worth area. Full Story

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