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WYBC one step closer to acquiring WNHC
By Anika Singh
Following Buckley Broadcasting's withdrawal on a bid for community-based WNHC
on Wed., Mar. 11, the Yale Broadcasting Company (WYBC) and the station's owner,
Willis Communications, Inc., have proposed a reorganization plan under which
WNHC would be acquired by WYBC.
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| LIZ OLINER/YH |
| Eight days after a judge rejected its disclosure method, Buckley Broadcasting withdrew its $650,000 bid for WNHC on Wed., Mar. 11. |
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In a hearing on Tues., Mar. 3, bankruptcy court Judge Albert S. Dabrowski
rejected a method of disclosure supported by Buckley Broadcasting. A week after
this rejection, Buckley Broadcasting withdrew its bid on WNHC.
WYBC, as well as a number of Willis Communications' creditors, had objected to
the disclosure statement, under which the competing bidders would have had to
enter a time brokerage agreement (TBA). The TBA mandated that the bidder
operate the station for a period of 60 to 90 days before an official transfer
of ownership had taken place. Dabrowski believed that such an agreement would
be "unfair" to other potential bidders on the station.
Another disclosure statement, drafted by Willis Communications attorney Andrew
DiPietro and approved by the WYBC Board of Governors, is expected to be filed
with the court in the next few days. According to Ken Devoe, SY '69, chairman
of the Board of Governors, WNHC President and General Manager Edie Rozie,
DiPietro, and members of the WYBC Board of Governors met on Fri., Mar. 13.
Devoe believes that the new plan is "in the best interests" of all involved,
and said that he hoped that the process would be left to the court. "At this
point, we just want to get it done," he said. The details of the newly
proposed disclosure statement were not made public.
Following the submission of the statement, another hearing will be scheduled
for its approval. Until a specific plan is approved, the table is open to bids
on Willis Communications and WNHC. According to DiPietro, two undisclosed
entities, in addition to WYBC and Buckley Broadcasting, have expressed
interest in acquiring WNHC. Moreover, although Buckley Broadcasting has
formally withdrawn its bid, DiPietro said that he expects to hear from them
again.
Richard Buckley, president of Buckley Broadcasting, denied any intention to
resubmit a bid at the present time and expressed frustration with the court
proceedings. "This has taken 10 months and we're back to square one; it
should've taken 10 minutes," he said. Buckley added that unlike WYBC, his
company would have maintained WNHC's current programming schedule.
Rozier continues to voice concerns about WYBC's intention to devote a
substantial portion of WNHC airtime to student programming. "Yale has no
interest in serving the black community; that's what I'm interested in," she
said. "Their concern is making money." Rozier maintained that she would
support any company wishing to acquire WNHC if they were committed to serving
the New Haven community. However, WNHC cannot submit a disclosure statement
without a buyer, and only WYBC has put forth a formal bid.
Although a WYBC takeover would create airtime for student DJs displaced last
December by format changes, the station's General Board continues to
voice concerns. In a series of resolutions passed by the General Board on Wed.,
Feb. 25, the Board opposed "entrance into any contract of financial arrangement
which impacts, directs, or includes stipulations...which entails major
financial commitments or the purchase of another station(s)" until the Board
approves such an arrangement.
Many individual members of the Board have stated that they are not in favor of
such an arrangement. Christine Michelopoulos, TC '98, former format head for
the "Frequency" programming, cited the proposed takeover as another example of
how WYBC has become more commercially-minded. "That's not the point of a
college radio station," she said. She also had doubts about student programs
being aired on an AM station. "What we want," she explained, "is one radio
station, one WYBC, one FM station."
In response to these concerns, Program Director Emad Abdelnaby, DC
'99, whose resignation was called for by the General Board, stressed the
importance of long-term planning. "The difference between the Board of
Governors and the General Board is that the General Board doesn't have the
long-term interests of Yale Broadcasting in mind," Abdelnaby said.
As to concerns about WNHC remaining a community-oriented station, although he
could not specify what the program schedule would look like, Abdelnaby said
that airtime would be split between student and community programming.
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